CLIMATE IMPACT ON ENERGY DEMAND FOR SPACE HEATING IN ICELAND
A major impact of climate change is expected to materialize on energy demand for space heating and cooling needs in the residential sector. To quantify this impact, a set of regression models were tested to study the relation between residential energy demand for space heating in Iceland and explana...
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ftrepec:oai:RePEc:wsi:ccexxx:v:07:y:2016:i:02:p:1-23 2023-05-15T16:45:58+02:00 CLIMATE IMPACT ON ENERGY DEMAND FOR SPACE HEATING IN ICELAND REZA FAZELI BRYNHILDUR DAVIDSDOTTIR JONAS HLYNUR HALLGRIMSSON http://www.worldscientific.com/doi/abs/10.1142/S2010007816500044 unknown http://www.worldscientific.com/doi/abs/10.1142/S2010007816500044 article ftrepec 2020-12-04T13:36:53Z A major impact of climate change is expected to materialize on energy demand for space heating and cooling needs in the residential sector. To quantify this impact, a set of regression models were tested to study the relation between residential energy demand for space heating in Iceland and explanatory variables such as Heating Degree Days and GDP per capita. Considering the nonstationarity of the time-series, three methods were studied to cope with this condition: Cointegration, differencing and detrending.The evaluation statistics of the three models for the validation period showed that the modified detrending approach is the most reliable method. It became obvious that including the seasonal dummy variables and AR component significantly improve the power of the model to predict monthly energy demand for residential space heating in Iceland. The developed model can be used to project climate related changes in demand for low-geothermal heat. Cointegration, climate change, heating degree day, space heating Article in Journal/Newspaper Iceland RePEc (Research Papers in Economics) |
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RePEc (Research Papers in Economics) |
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description |
A major impact of climate change is expected to materialize on energy demand for space heating and cooling needs in the residential sector. To quantify this impact, a set of regression models were tested to study the relation between residential energy demand for space heating in Iceland and explanatory variables such as Heating Degree Days and GDP per capita. Considering the nonstationarity of the time-series, three methods were studied to cope with this condition: Cointegration, differencing and detrending.The evaluation statistics of the three models for the validation period showed that the modified detrending approach is the most reliable method. It became obvious that including the seasonal dummy variables and AR component significantly improve the power of the model to predict monthly energy demand for residential space heating in Iceland. The developed model can be used to project climate related changes in demand for low-geothermal heat. Cointegration, climate change, heating degree day, space heating |
format |
Article in Journal/Newspaper |
author |
REZA FAZELI BRYNHILDUR DAVIDSDOTTIR JONAS HLYNUR HALLGRIMSSON |
spellingShingle |
REZA FAZELI BRYNHILDUR DAVIDSDOTTIR JONAS HLYNUR HALLGRIMSSON CLIMATE IMPACT ON ENERGY DEMAND FOR SPACE HEATING IN ICELAND |
author_facet |
REZA FAZELI BRYNHILDUR DAVIDSDOTTIR JONAS HLYNUR HALLGRIMSSON |
author_sort |
REZA FAZELI |
title |
CLIMATE IMPACT ON ENERGY DEMAND FOR SPACE HEATING IN ICELAND |
title_short |
CLIMATE IMPACT ON ENERGY DEMAND FOR SPACE HEATING IN ICELAND |
title_full |
CLIMATE IMPACT ON ENERGY DEMAND FOR SPACE HEATING IN ICELAND |
title_fullStr |
CLIMATE IMPACT ON ENERGY DEMAND FOR SPACE HEATING IN ICELAND |
title_full_unstemmed |
CLIMATE IMPACT ON ENERGY DEMAND FOR SPACE HEATING IN ICELAND |
title_sort |
climate impact on energy demand for space heating in iceland |
url |
http://www.worldscientific.com/doi/abs/10.1142/S2010007816500044 |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
http://www.worldscientific.com/doi/abs/10.1142/S2010007816500044 |
_version_ |
1766036103669743616 |