Tushar Prakash Prabhu
Ameya Gajanan Pathak
Dr. Mrs. N R Rajhans
Abstract
Renewable energy production is gaining importance over the years. Forecasting renewable energy production requirement will help producer to plan his production over the years. Forecasting can be done by devising simple as well as complex mathematical models. Simulation also is another way of forecasting, Collection of sample data plays a very important role in the accuracy of forecasting results. Renewable energy is finding its way in the energy sector, hence accountability of data has to be looked into. The forecast of the renewable energy can be debated over the fact that every country has a different perception of generation of renewable energy, thus the actual data may vary drastically. However, the forecast will surely be a perfect guideline of every policy maker to make conducive policies for the large development of renewable energy sector. The paper attempts to find the future production requirement of renewable energy using simple Time-Series methods of forecasting and judge the accuracy of each method. An attempt is made to identify maximum and minimum level of requirement which is forecasted. JEL classification: Cl
Keywords- -APFM, Flywheel, Animals, TFC Quantitative methods, Time-series forecasting, renewable energy, energy statistics, traditional methods.