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Evidence of long memory behavior in U.S. renewable energy consumption

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Author Info

  • Pestana Barros, Carlos
  • Gil-Alana, Luis A.
  • Payne, James E.

Abstract

This study examines the degrees of time persistence in U.S. total renewable energy consumption using innovative fractional integration and autoregressive models with monthly data from 1981:1 to 2010:10. The results indicate that renewable energy consumption is better explained in terms of a long memory model that incorporates persistence components and seasonality. The degree of integration is above 0.5 but significantly below 1.0, suggesting nonstationarity with mean reverting behavior. The presence of long memory behavior (persistence) in renewable energy consumption suggests that random shocks may very well move renewable energy consumption from pre-determined target levels for a period of time.

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File URL: http://www.sciencedirect.com/science/article/pii/S0301421511009463
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Bibliographic Info

Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 41 (2012)
Issue (Month): C ()
Pages: 822-826

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Handle: RePEc:eee:enepol:v:41:y:2012:i:c:p:822-826

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Web page: http://www.elsevier.com/locate/enpol

Related research

Keywords: Renewable energy consumption; Long memory; Persistence;

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