Solar Energy Production in Azerbaijan: Forecast Analysis Using ARIMA Model

Abstract

The urgent need to address global climate change and promote sustainable development highlights the growing demand for renewable energy sources. Solar energy, in particular, holds significant importance due to its widespread availability and environmentally friendly characteristics. For Azerbaijan, a country dedicated to sustainable development and actively contributing to environmental conservation efforts, renewable energy assumes a central role in its strategic agenda. The objective of this study is to evaluate the historical trajectory of solar energy production in Azerbaijan over the past decade and forecast its future trends until 2030. Utilizing the Autoregressive Integrated Moving Average (ARIMA) model, this study utilizes time series analysis to examine the overall development trends within the solar energy sector. By analyzing past data and using forecasting model, this research endeavors to offer valuable insights to guide policy decisions and strategic planning initiatives concerning renewable energy development in Azerbaijan