SMU Data Science Review
Abstract
This paper provides updated forecasts of energy demand in Texas and recognizes the impact of sustainable energy. It is important that the forecasts of the adoption of sustainable energy are reexamined after Winter Storm Uri crippled the Texas power grid and left many without power. This storm highlighted the issues the Texas power grid had and has continued to struggle with in supplying the state with energy. This paper will offer an overview of the relevant literature on the adoption of sustainable energy and relevant events that have occurred in the state of Texas that will give the reader the necessary background and context needed to understand the need for this study as well as its implications. The text will offer the reader updated forecasts with respect to the increasing adoption of renewable energy in Texas. Two major methodologies will be addressed as the researchers used different forecasting techniques to produce the most accurate model for forecasting the total energy demand for all the areas that EROCT services. The discussion will review the findings of the forecasting methods used, the significance of the findings, and the implications of the results for the future of the Texas energy economy.
Recommended Citation
Derner, Robert A.; Butler, Richard W. II; Neff, Alexandria; and Ruthford, Adam R.
(2024)
"Reevaluating Texas Energy Market Forecasts in The Wake of Recent Extreme Weather Events,"
SMU Data Science Review: Vol. 8:
No.
1, Article 8.
Available at:
https://scholar.smu.edu/datasciencereview/vol8/iss1/8
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