Probabilistic Electricity Demand Forecasts
Which Metric Is Best?
With behind-the-meter renewables, climate change, and the rise of EVs, probabilistic demand forecasts are gaining popularity.
In this white paper, see how to review probabilistic forecasts and assess their reliability. We explore four key metrics: the Probability Integral Transform (PIT), Chi-square test, Pinball loss function, and Continuous Ranked Probability Score (CRPS).
/Demand%20Forecasts/hd-demand-forecasts.webp?width=789&name=hd-demand-forecasts.webp "Yes Energy demand forecast compared to SPP ISO load forecast and real-time load data")
.png?width=600&name=CAISO%20EDAM%20blog%20%20(4).png)
/Demand%20Forecasts/hd-demand-forecasts.webp?width=600&name=hd-demand-forecasts.webp)
