Inaccurate Predictions
Hazard: Inaccurate predictions can cause energy supply issues, grid failures, and poor decision-making by stakeholders.
Solution: Disclaimers about the model's limitations shall be established, but the model shall also be continuously monitored and updated to improve accuracy.
Overreliance on the Model
Hazard:Â The model may be used as the only decision-making tool instead of there being human input and oversight.
Solution: The model shall be used as one factor when making decisions, but there shall always be human intervention when implementing certain policies and decisions.
The Effect of Time
Hazard: Over time, there may be changes in demographics and energy consumption behaviors. If the model is not able to adapt to new patterns, inaccurate predictions might be generated.
Solution: The model shall be retrained using recent data and its performance shall be monitored at regular intervals.