International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 05 Issue: 10 | Oct-2018
p-ISSN: 2395-0072
www.irjet.net
Forecasting & Order Preparation of Energy Consumption in India Ashwini Joshi1, Vrushabh Kadam2, Aumkar Desai3, Suyog Dumbre4, Shital Patel5 1,2,3,4Sudent,
Department of Mechanical Engineering, Bharti Vidyapeeth’s College of Engineering, Navi Mumbai, Maharashtra, India – 400 614 5Professor, Department of Mechanical Engineering, Bharti Vidyapeeth’s College of Engineering, Navi Mumbai, Maharashtra, India – 400 614 ---------------------------------------------------------------------***----------------------------------------------------------------------
Abstract:- India is the seventh largest country in terms of area & second largest in terms of population. It is third largest economy in terms of GDP PPP & sixth largest in terms of nominal GD. India has become fastest growing major economy in the world. Since 1991 in its post ‘liberalization’ era policy it has undergone rapid industrialization. In order to maintain the pace of industrialization & economic growth rate, India needs to gain security in the energy sector. With many new climate change pacts & agreement in place India need to consider various factors while forecasting & order preparation of energy demands. While order preparation various factors such as efficiency, space, required, capital cost, etc. need to be considered. The paper discusses about the forecasting & order preparation of Energy Sector in India.
Forecasting is done by two methods: 1. Qualitative - These depend on experience and knowledge of person who is forecasting. 2. Quantitative - These depend on actual values from past data. 2.1 Types of Forecasting Short term-It is the forecast done for a period ranging from 1 day to several months. This type of forecasting can includes demand of electricity throughout the day. Medium term-It is the forecast done for a period of 1 year to 3 years. This type of forecasting includes seasonal or quarterly forecasting of energy demands.
Key Words: India, Forecasting, Order Preparation, Developing countries, Renewable sources, Electricity Demand
Long term-It is the forecast done for a period of more than years. This type of forecasting includes long term planning (five year plans). Such type of forecasts are important in planning energy security & setting up power plants.
1. INTRODUCTION India is the seventh largest country in the world in terms of area. It is the second largest country in terms of population. Following ‘liberalization’ of its economic policies in 1991, averaging a growth rate of 8 percent per year it has become the fastest growing major economy, surpassing China in 2015. Its per capita income has increased from $329 in 1991 to $1,723 in 2016. It is third largest economy in terms of GDP PPP (Purchasing Power Parity) & sixth largest economy in terms of nominal GDP.
2.2 Using Least square method to for forecasting energy consumption in India. Table 1 - Least Square Method YEAR
CONSUMPTIO N (GWh)Y
DEVIATI ONX
X2
XY
2012
785194
-3
9
-2355582
India has the largest youth population in the world. It is set to become next manufacturing hub of the world. In order to maintain such a growth, India need to achieve energy security. Energy security is very essential for achieving a good rate of industrialization. To achieve a stable it is necessary to forecast the energy demands consumption & factors affecting order preparation.
2013
824301
-2
4
-1648602
2014
881562
-1
1
-881562
2015
938823
0
0
0
2016
1001191
1
1
1001191
2017
1066268
2
4
2132536
2. FORECASTING
2018
1130244
3
9
3390732
Forecasting has been defined by many people and associations such as:
N=7
∑Y=6627583
∑X=0
∑X2 =28
∑XY=163871 3
According to Allen, “Forecasting is a systematic attempt to probe the future by inference from known facts”.
Trend is, Y= a + bX
In simple words, Forecasting is guessing future values based on past data, present conditions and future requirements.
a = ∑Y/N = 946797.57 b = ∑XY/∑X2 = 58525.46
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