U.S. Disaggregated renewable energy consumption: Persistence and long memory behavior

Carlos Barros, Luis Gil-Alana and James Payne

Energy Economics, 2013, vol. 40, issue C, 425-432

Abstract: This study examines the degree of time persistence in U.S. disaggregated renewable energy consumption (hydropower, geothermal, solar, wind, wood, waste, and biofuels) using innovative fractional integration and autoregressive models with monthly data for the period 1994:2 to 2011:10. The results indicate that in the case of hydropower, solar, wind, waste, and biofuels the estimates of fractional integration are higher than 0.5 but less than 1.0 implying nonstationary, but mean reverting behavior. In the case of geothermal and waste the estimates of fractional integration are around 0.5 and in the boundary case between stationarity and nonstationarity. For wood, the estimate of fractional integration is significantly smaller than 0.5 and thus showing stationary behavior with long memory behavior. Furthermore, the study incorporates the presence of breaks in the data with the absence of breaks in hydropower, geothermal, solar, wind, wood, and biofuels, but a single break in the case of waste due to the inclusion of non-renewable waste from non-biogenic sources through 2000. The results reveal that U.S. disaggregated renewable energy consumption measures are better explained in terms of a long memory model that incorporates persistence components and seasonality.

Keywords: Renewable energy consumption; Unit roots; Long memory models; Persistence (search for similar items in EconPapers)
JEL-codes: C22 Q2 Q42 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0140988313001631
Full text for ScienceDirect subscribers only

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:eee:eneeco:v:40:y:2013:i:c:p:425-432

DOI: 10.1016/j.eneco.2013.07.018

Access Statistics for this article

Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant

More articles in Energy Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().