A comprehensive evaluation of machine learning algorithms for precise energy consumption forecasting in smart homes

Abstract

Energy is one of the most critical and costly resources, playing a vital role in our daily lives. As technology advances, the demand for energy also increases. This work proposes a model for predicting energy consumption in smart homes, consisting of data preprocessing, performance evaluation, and application. Once the data is processed, it is fed into the prediction module, where various machine-learning algorithms are applied to forecast energy consumption. As smart home environments grow in complexity, selecting the most effective machine learning algorithm becomes increasingly crucial. The persistent challenge lies in manually discerning the best-performing algorithm, given their potential variance in efficacy across diverse use cases or datasets. In the dynamic landscape of energy conservation and cost-effective power generation, precise forecasting of energy consumption is essential, playing a pivotal role in advancing energy sustainability and bolstering economic stability. This introduction explores the intricate terrain of predicting energy utilization within smart homes, a domain that has seen increased interest due to the integration of machine learning algorithms. The primary focus of this exploration is the rigorous evaluation of these algorithms, using key performance metrics such as mean absolute error (MAE), mean squared error (MSE), and R-squared.