Forecasting Japan’s Solar Energy Consumption Using a Novel Incomplete Gamma Grey Model

Peng Zhang, Xin Ma and Kun She
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Peng Zhang: School of Information and Software Engineering, University of Electronic Science and Technology of China, Chengdu 610054, China
Xin Ma: School of Science, Southwest University of Science and Technology, Mianyang 621010, China
Kun She: School of Information and Software Engineering, University of Electronic Science and Technology of China, Chengdu 610054, China

Sustainability, 2019, vol. 11, issue 21, 1-23

Abstract: Energy consumption is an essential basis for formulating energy policy and programming, especially in the transition of energy consumption structure in a country. Correct prediction of energy consumption can provide effective reference data for decision-makers and planners to achieve sustainable energy development. Grey prediction method is one of the most effective approaches to handle the problem with a small amount of historical data. However, there is still room to improve the prediction performance and enlarge the application fields of the traditional grey model. Nonlinear grey action quantity can effectively improve the performance of the grey prediction model. Therefore, this paper proposes a novel incomplete gamma grey model (IGGM) with a nonlinear grey input over time. The grey input of the IGGM model is a revised incomplete gamma function of time in which the nonlinear coefficient determines the performance of the IGGM model. The WOA algorithm is employed to seek for the optimal incomplete coefficient of the IGGM model. Then, the validations of IGGM are performed on four real-world datasets, and the results exhibit that the IGGM model has more advantages than the other state-of-the-art grey models. Finally, the IGGM model is applied to forecast Japan’s solar energy consumption in the next three years.

Keywords: grey model; energy consumption prediction; incomplete gamma grey model; energy economics; solar energy consumption; WOA algorithm (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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