Empirical Analysis of the Relationship between Renewable Energy Consumption and Economic Growth Based on the Grey Markov Model

Liu, Chao

doi:10.1155/2022/5679696

Cited by 7 publications

(5 citation statements)

References 37 publications

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“…This sharp increase is due to additional policies like prevailing feed-in tariffs which can give investors the potential for high returns. Bioenergy is the use of bioprocess technology to convert biomass into energy or fuel (Isik and Radulescu, 2017;Liu, 2022). The renewable, strain-free, clean-burning nature of bioenergy can provide a means to combat global warming while contributing to sustainable development.…”

Section: General Overview Of Bioenergymentioning

confidence: 99%

“…Energy independence and climate change are the main forces behind the growth of bioenergy, and they also guarantee a large socioeconomic impact by creating thousands of jobs throughout the whole value chain globally (Calliope et al, 2020). Recent studies have provided extensive analysis of the economic worries, climatic or environmental changes, as well as the feasibility and social consequences of bioenergy, using a variety of important sustainability criteria (Liu, 2022;Syamni et al, 2021). About 75 percent of all renewable energy used globally comes from bioenergy.…”

Section: Bioenergy In a Bioeconomymentioning

confidence: 99%

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Impact of Bioenergy on Economic Growth and Development: An European Perspective

Kalogiannidis

Chatzitheodoridis

Kontsas

et al. 2023

IJEEP

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The development of a country's economy depends heavily on its access to energy. It is extensively used in agriculture and related industries, including the production and delivery of fertilisers, pesticides, and farm equipment. This study investigated the impact of Bioenergy on economic growth and development in Europe with major focus on Greece. The study used a questionnaire to collect data from 400 professionals in the energy sector in Greece. The study showed that increased bioenergy production positively affects economic growth and development. It was established that there is a significant relationship between dependence on renewable and low-carbon energy systems and investing in sources of bioenergy positively affect economic growth and development. Households require bioenergy for heating, lighting, and cooking. Electricity, coal, petroleum, natural gas, uranium, and other fuels can all be used to produce energy. Bioenergy influences a state's economic performance and a good correlation with the level of innovation in the industry or with energy derived from natural gas. The article discusses the disparity in bioenergy use across nations as well as how they have changed during the investigated time. All of these factors lend credence to the advantages that bioenergy will bring about for the long-term growth of the bioeconomy. Production of bioenergy has the potential to significantly reduce climate change while long-term energy resource diversification is guaranteed.

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Section: General Overview Of Bioenergymentioning

confidence: 99%

Section: Bioenergy In a Bioeconomymentioning

confidence: 99%

Impact of Bioenergy on Economic Growth and Development: An European Perspective

Kalogiannidis

Chatzitheodoridis

Kontsas

et al. 2023

IJEEP

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“…Song et al (2020), used grey model theory to perform load forecasting of medium and long term power system and the accuracy of the model in load forecasting is tested using the posterior difference method. Liu (2022), conducted an empirical analysis of the relationship between renewable energy consumption and economic growth based on the grey Markov model.…”

Section: Grey System Theory and Grey-markov Chain Modelmentioning

confidence: 99%

Estimation of Red Meat Production in Turkey according to the Grey-Markov Chain Model

SEN

2023

EPSTEM

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Today, due to the place and importance of red meat in terms of nutrition and public health, meeting the reliable supply of red meat to meet the demand has become one of the most important issues. The production source of red meat in Turkey is cattle, sheep, goat and buffalo. Although Turkey is a rich country in terms of different species and breeds and animal potential, the yield per unit animal is low. Most of the meat is consumed fresh in Turkey. With the increasing importance of meeting the reliable red meat supply, the necessity of following the sector has emerged. Accurate estimation of red meat production in Turkey is important for establishing short, medium and long-term policies that will balance supply and demand. In this study, Grey-Markov chain model, which is a combination of Markov chains method and Grey estimation model, which can be used to predict future data with very limited data and information, was used in the estimation of red meat production. The obtained results show that the Grey-Markov chain model used has high predictive precision and applicability.

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“…Bataille &Melton (2017) studied that improving energy efficiency would promote GDP growth [6]. Liu Yao (2018) collected the data of China's energy consumption and economic development level from 2004 to 2016 and analyzed them with IPAT model to find that economic growth and energy consumption are relatively decoupled in most years [7]. Du Junhui et al (2021) used the grey correlation and Tapio decoupling analysis methods to analyze that Hebei's economic growth and energy consumption had a significant grey correlation, and Hebei's GDP had long depended on various energy consumption [8].…”

Section: Introductionmentioning

confidence: 99%

Analysis of the Factors Affecting Economic Growth by Energy Consumption and Energy Structure in Sichuan Province—Based on Grey Relation Analysis of Mathematical Model

Liu¹,

Zhang²

2023

Proceedings of the 2nd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2023, May 19–21, 2023, Han

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This paper uses the grey correlation analysis method commonly used in mathematical modeling to dynamically analyze the relationship between GDP and energy consumption and energy structure in Sichuan. Influenced by such factors as the global climate edge and the energy crisis, the dialectical relationship between energy consumption, energy structure and economic growth is facing new adjustments. There is a general trend for all regions to change their economic development concepts. This paper collects the relevant data of Sichuan, China, and calculate the gray correlation between economic development and energy consumption. Among all kinds of energy consumption in Sichuan, the correlation degree of one-time electricity is 0.794, ranking first. The consumption structure of the four energy products has been continuously optimized by the economic development of Sichuan, which is consistent with the factor endowment rich in water resources and natural gas resources in Sichuan. Among the energy consumption industries in Sichuan, the correlation degree of energy consumption in the construction industry is the largest 0.763, ranking first. So, the development of the construction industry is the key factor affecting the economic growth in Sichuan.

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Empirical Analysis of the Relationship between Renewable Energy Consumption and Economic Growth Based on the Grey Markov Model

Cited by 7 publications

References 37 publications

Impact of Bioenergy on Economic Growth and Development: An European Perspective

Impact of Bioenergy on Economic Growth and Development: An European Perspective

Estimation of Red Meat Production in Turkey according to the Grey-Markov Chain Model

Analysis of the Factors Affecting Economic Growth by Energy Consumption and Energy Structure in Sichuan Province—Based on Grey Relation Analysis of Mathematical Model

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