Modeling Energy Demand and Socioeconomic Development Of Taiwan

Abstract

Taiwan lacks a natural energy endowment. Its energy demands have dramatically increased with the growth of the economy and standard of living during the past two decades. Based on the new socioeconomic development policy for the next two decades, the government of Taiwan has devoted special attention and effort to improving various social and environmental problems affecting the country’s overall quality of life. The increasing rate of household energy demand will slow down as the market for electrical appliances reaches a saturation point and as the energy efficiency of appliances is improved. Transportation policies call for energy conservation during the next two decades by raising energy use efficiency. The industrial sector has also implemented energy conservation measures by raising energy efficiency and by diagnosing and improving energy-use.

Based on these concepts and by developing a new set of assumptions, several translog models are calibrated for forecasting energy demand and socioeconomic development in the next two decades.

Keywords

Energy demand modeling Taiwan Economic policy

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