Evidence of long memory behavior in U.S. renewable energy consumption

Evidence of long memory behavior in U.S. renewable energy consumption

0.00 Avg rating0 Votes
Article ID: iaor20121622
Volume: 41
Issue: 1
Start Page Number: 822
End Page Number: 826
Publication Date: Feb 2012
Journal: Energy Policy
Authors: , ,
Keywords: statistics: inference, statistics: regression, demand
Abstract:

This study examines the degrees of time persistence in U.S. total renewable energy consumption using innovative fractional integration and autoregressive models with monthly data from 1981:1 to 2010:10. The results indicate that renewable energy consumption is better explained in terms of a long memory model that incorporates persistence components and seasonality. The degree of integration is above 0.5 but significantly below 1.0, suggesting nonstationarity with mean reverting behavior. The presence of long memory behavior (persistence) in renewable energy consumption suggests that random shocks may very well move renewable energy consumption from pre‐determined target levels for a period of time.

Reviews

Required fields are marked *. Your email address will not be published.