Using neural nets to predict tomorrow's electric consumption

Electricity distributors stand to save hundreds of thousands of dollars by decreasing their peak demand charge. Some have tried to discharge batteries or turn off customers' water heaters at peak hours to reduce their demand. But these efforts are only as effective as the utility's ability to predict the day's energy consumption. The smallest inaccuracy can mean the difference between tens of thousands of dollars--implementing a peak-shaving strategy with incorrect load predictions can often increase demand cost. Thankfully, advances in deep learning and neural networks can offer utilities an incredibly accurate picture of the next day's energy consumption.