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題名 | Evaluating the Renewable Energy Industry Using the Hidden Markov Model: A Case Study on Wind Power in Taiwan= |
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作者 | Liao, Chung-shou; Huang, Hung-yu; Trappy, Amy J. C.; Huang, Hung-yu; Trappy, Amy J. C.; Liao, Chung-shou; |
期刊 | International Journal of Electronic Business Management |
出版日期 | 20151200 |
卷期 | 13 2015.12[民104.12] |
頁次 | 頁32-44 |
分類號 | 448.165 |
語文 | eng |
關鍵詞 | Renewable energy; Wind power; Hidden Markov model; |
英文摘要 | Due to worldwide concerns on the utilization of fossil fuels and the resulting increase in global carbon emissions, many governments have begun promoting renewable and green energies as alternatives to fossil energy. Wind power is currently one of the most mature renewable energy technologies. Although Taiwan is located in a region with abundant wind power, this energy industry still faces major challenges in growing the market. This study employs hidden Markov models (HMM) to analyze the development of the Taiwanese wind power industry. Because renewable energy development is determined by multiple time-series-related factors, we use a variation of the HMM, called the hidden Markov model with multiple feature streams (HMM/MFS), to simultaneously consider distinct factors influencing the development trends of renewable energy. The results show that our forecast model can make accurate projections of Taiwan’s installed wind power capacity, which can be used to assist industry in making correct investment decisions and to provide recommendations to the government for setting suitable green energy policies. |
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