COMPARISON OF RENEWABLE AND CONVENTIONAL ENERGY COSTS BY WAVELET TECHNIQUES

Abstract

This paper aims to compare the cost of renewable energy to conventional energy sources in production. It is argued that advantage in cost of production would support competitiveness of Turkish manufacturing industry in international trade. In this paper an export model has been developed to forecast competitive advantage of Turkish manufacturing industry on international trade by using renewable energy in production. Data on the cost of energy on Turkish manufacturing industry and export performance in past 10 years were processed. This study utilizes 1D wavelet packets and continuous wavelets on historical cost and export values in Turkey. Wavelet and regression analysis have been applied to define variation in temporal and spatial patterns. Wavelet techniques detect sudden changing, increasing and decreasing trends of data and define the role of factors small and large scale effects. Actual share of energy usage in production cost and usage of renewable energy instead of conventional energy values were compared to other countries data analyses.

Keywords

• Cost of renewable energy, wavelet analysis, cost advantage, competitiveness, international trade

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