Tags:ARIMA Model, Climate Change, Emission, Energy, Forecasting and Non-Renewable Resources
Abstract:
The energy sector of any country is the powerhouse for its economy. All the other sectors and domains of any country rely heavily on the energy industry. Along with strengthening and boosting the economies worldwide, this sector is one of the major contributors to climate change. The amount of emissions generated by the energy sector have accelerated this disastrous change. India is advancing as a developing nation with incredible speeds and its energy sector is considered to be one of the most assorted sectors with the varied number of resources and reserves it holds. The objective of this research is to study the non-renewable sources of India’s energy sector and predict future temperature forecasts by analyzing the emissions of these non-renewable sources on the temperature. A combination of ARIMA and ARIMAX modelling have been employed to first complete the dataset and then predict future values. The results show an alarming rate of increase in the future and consequently the paper discusses the mitigation methods and reforms at governmental levels. The geographical potential of Indian states for harnessing energy from cleaner sources has also been discussed.
Impact of Energy Sector on Climate Change in India Using Forecasting Models