Abstract:
Residential Electricity consumption accounts for 25% of electric energy consumption consumed
in India and is expected to increase in the future to rapid urbanization, growing income levels,
etc. In this project we have tried to build models which can help us predict electricity consumption .An ability to do so will aide in managing demand , help estimate wear and tear of the
system and most importantly reduce wastage. In this project we have explored 3 approaches to
do so: ARIMA model , the VAR model and Neural Network model.