Solar Energy Production in Azerbaijan: Forecast Analysis Using ARIMA Model

Ramil Hasanov

Journal of Sustainable Development Issues (JOSDI), 2024, vol. 2, issue 1, 11-20

Abstract: The urgent need to address global climate change and promote sustainable development highlights the growing demand for renewable energy sources. Solar energy, in particular, holds significant importance due to its widespread availability and environmentally friendly characteristics. For Azerbaijan, a country dedicated to sustainable development and actively contributing to environmental conservation efforts, renewable energy assumes a central role in its strategic agenda. The objective of this study is to evaluate the historical trajectory of solar energy production in Azerbaijan over the past decade and forecast its future trends until 2030. Utilizing the Autoregressive Integrated Moving Average (ARIMA) model, this study utilizes time series analysis to examine the overall development trends within the solar energy sector. By analyzing past data and using forecasting model, this research endeavors to offer valuable insights to guide policy decisions and strategic planning initiatives concerning renewable energy development in Azerbaijan.

Keywords: Renewable energy; solar energy production; ARIMA model; forecast; green economics; sustainability. (search for similar items in EconPapers)
JEL-codes: C22 F64 O44 Q20 Q42 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journalsdi.com/index.php/jsdi/article/view/18/10 (application/pdf)
https://journalsdi.com/index.php/jsdi/article/view/18 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arv:journl:v:2:y:2024:i:1:p:11-20

DOI: 10.62433/josdi.v2i1.18

Access Statistics for this article

Journal of Sustainable Development Issues (JOSDI) is currently edited by Shahriyar Mukhtarov

More articles in Journal of Sustainable Development Issues (JOSDI) from SDIjournals
Bibliographic data for series maintained by Shahriyar Mukhtarov ().