Energy Demand Forecasting Based on Economy-related Factors in China

Abstract

Energy plays an extremely important role in economic growth in modern society. The significance is self-evident in energy resources planning and management due to the continuing increase in worldwide diminishing accessibility of energy resources. An increasing number of publications show that energy demand is strongly related to economy development. In order to analyze the energy demand in the future, previous studies employing a variety of models through different inputs for energy demand forecasting in China have been proposed. This article develops an energy demand forecasting model by combining support machine regression and quantum-behaved particle swarm optimization as it adopts eight economy-related inputs. It indicates that the proposed model is superior to some of the popular models in energy demand forecasting in China.

Keywords:

• China
• energy demand
• forecasting
• inputs
• model