A review on time series forecasting techniques for building energy consumption

TLDR: The various combinations of the hybrid model are found to be the most effective in time series energy forecasting for building and the nine most popular forecasting techniques based on the machine learning platform are analyzed.

Abstract: Energy consumption forecasting for buildings has immense value in energy efficiency and sustainability research. Accurate energy forecasting models have numerous implications in planning and energy optimization of buildings and campuses. For new buildings, where past recorded data is unavailable, computer simulation methods are used for energy analysis and forecasting future scenarios. However, for existing buildings with historically recorded time series energy data, statistical and machine learning techniques have proved to be more accurate and quick. This study presents a comprehensive review of the existing machine learning techniques for forecasting time series energy consumption. Although the emphasis is given to a single time series data analysis, the review is not just limited to it since energy data is often co-analyzed with other time series variables like outdoor weather and indoor environmental conditions. The nine most popular forecasting techniques that are based on the machine learning platform are analyzed. An in-depth review and analysis of the ‘hybrid model’, that combines two or more forecasting techniques is also presented. The various combinations of the hybrid model are found to be the most effective in time series energy forecasting for building.