Forecasting of CO2 Emissions, Renewable Energy Consumption and Economic Growth in Vietnam Using Grey Models

Abstract

This paper analyses and forecasts of carbon dioxide (CO1) emissions, renewable energy consumption, and gross domestic product (GDP) for Vietnam during the period of 2010 to 2019. These three variables are important factors that affect the energy efficiency, economic growth as well as climate change in Vietnam. Thus, this paper employs the grey prediction models including GM (1,1) and DGM (1,1) to predict three variables. According to forecasting results, the CO1 emissions of Vietnam will grow by 3 %, the renewable energy consumption is not increase significantly, and the GDP is forecasted to increase 5% in 2019 compared with 2010. The study provides policy makers with useful information in finding the solutions to improve energy efficiency, economic growth and environmental protection in Vietnam.