A novel time-lagged logistic grey model and its application in forecasting energy production volume

Abstract

Scientific and accurate prediction of energy production is important for exploring energy alternative paths, adjusting energy structure and industrial layout in a targeted manner, and promoting strategic energy transformation. In this paper, a time-lagged logistic grey forecasting model with harvesting term is established by combining the Logistic model, which has the ability of historical recurrence and short- and medium-term forecasting ability, and the grey forecasting model, which has the characteristics of strong adaptability and small computational effort. The least squares method is used to estimate the parameters of the new model, and the mathematical method is used to calculate the time response equation of the new model, and the modeling steps and flow chart of the new model are obtained. Finally, the oil production data of a province in China is used as the validity analysis of the model, and the new model is compared with two classical grey prediction models, three optimized grey prediction models, and one other prediction model. Through the comparison of seven indicators, the results show that the new model is significantly better than other models. Based on the validity analysis results, the new model is applied to the energy production forecast of three typical provinces in China. The horizontal and vertical comparison shows that the model can effectively predict the three kinds of energy production, and can provide technical support for the strategy and measures to adjust the energy security structure and promote the healthy and sustainable development of the energy industry.