Application of Gray Forecasting Model Optimized by Genetic Algorithm in Electricity Demand Forecasting

The traditional gray forecasting model is widely used in various fields, but it has some limitations. In this paper, a method based on genetic algorithm optimizing gray modeling process is introduced, and the flow chart of modeling is given. This method makes full use of the advantages of the gray forecasting model and characteristics of genetic algorithm to find global optimization. So the forecasting model is more accurate. The result shows that the model can be used as electricity demand an effective tool for forecasting.