Anshuman Dey Kirty

Bio: Anshuman Dey Kirty is an academic researcher from VIT University. The author has contributed to research in topics: Energy consumption. The author has co-authored 1 publications.

Trend of energy consumption in developing nations in the last two decades: a case study from a statistical perspective

Abstract: The chapter provides an overview of the trends in consumption of energy and its source: renewable and nonrenewable across the globe with a focus on the developing nations. The study has been made for the last two decades. As the developing nations require energy to power their growth; this case study has shown how fast the consumption of the energy takes place and their projections until the year 2026. Almost 59% of the energy productions are from oil and coal for decades. The that what we have expected. With the increase in the usage of energy, we break down each major developing nation and study its energy profile. This chapter also further proposes time series analysis to project usage in the coming years. The forecast in this chapter has been accomplished using the open-source library published by Facebook for time series projections, namely Prophet. It has taken the seasonality and the yearly trends into account as parameters and therefore has given a satisfactory result on the projections.