Machine Learning - Predicting Philippines' Electricity Consumption
Global electricity consumption has continue to grow rapidly at the rate even faster than any sources of other energy consumption. Emerging country like Philippines has witnessed a significant growth of electricity use from 1970. Annual electricity consumption per capita serves as an important measure of a country’s electric power development. The electricity production may generated from various power sources like hydroelectric, fossil fuel, and renewable energy. In general, electricity consumption grows faster when the industrialization process develops quickly and goes down rapidly when industrialization is completed or near completion. The same can be said about CO2 emission.
Recently, Indonesia has banned the coal export to other countries like Philippines, South Korea, and China. The public policy sent a signal in order for Philippines to maintain their coal stock for their electricity power source. The policy may increase the price of coals and may affect other fossil fuel prices like gas and liquid fuel.
Analytico Asia prepared the dataset taken from the World Indicator. The objective for this dashboard is to forecast electricity usage using a machine learning model. Various indicators are implemented into the dashboard to gain some insights about energy consumption and the possible outcome like CO2 emission. The insights are then used for business planning or government policy making ahead of time.