Energy demand forecasting

Abstract Energy demand forecasting is crucial for ensuring future economic growth and environmental security. It plays a vital role in energy supply demand management by private companies and government agencies for ensuring proper allocation of available energy resources and assisting in deciding the construction of infrastructure to meet future demands. In this chapter, discussions about the importance, challenges, and general methodology of energy demand forecasting are provided. In addition, different sorts of energy demand forecasting methods such as time series models, regression models, and the artificial neuron network method are discussed by explaining the theoretical and mathematical bases of these methods as well as highlighting their appropriateness and limitations. Finally, accuracy of energy demand forecasting is discussed by describing the general matrices of forecasting accuracy.