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Clustering Analysis of the Energy Mix in Romania Using K-Means Algorithm

Author

Listed:
  • Cristina (Antohi) Barbu

    (Dunarea de Jos University of Galati, Romania)

  • Stefan-Mihai Petrea

    (Dunarea de Jos University of Galati, Romania)

  • Corina Sbughea

    (Dunarea de Jos University of Galati, Romania)

  • Cristina Gabriela Zamfir

    (Dunarea de Jos University of Galati, Romania)

Abstract

In the context of the challenges generated by the changes on the energy market, Romania is aligning with the European norms regarding the increase of the electricity production capacity from renewable sources. The objective of the work is to analyze the electricity production capacity in Romania and to highlight, through grouping techniques specific to machine learning, the vulnerabilities of electricity production from renewable sources. The research methods used are based on the analysis of the power generated by the electricity production capacities during February 2021 – February 2023. The K-means clustering technique is used for the following types of electricity: wind, photovoltaic, biomass, coal and hydrocarbons. Elbow and Silhouette methods are used to determine the optimal number of clusters. The results of the study outline the idea that Romania has an energy potential from renewable sources insufficiently capitalized. Maximizing the production potential from renewable sources is possible through the implementation of appropriate policies and measures to increase the integration of renewable energy sources (RES) into the National Energy System (SEN).

Suggested Citation

  • Cristina (Antohi) Barbu & Stefan-Mihai Petrea & Corina Sbughea & Cristina Gabriela Zamfir, 2023. "Clustering Analysis of the Energy Mix in Romania Using K-Means Algorithm," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 253-262.
    • Handle: RePEc:ddj:fserec:y:2023:p:253-262
    DOI: https://doi.org/10.35219/rce20670532167
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    References listed on IDEAS

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    1. Kumar, Satish & Pandey, Neeraj & Lim, Weng Marc & Chatterjee, Akash Nil & Pandey, Nitesh, 2021. "What do we know about transfer pricing? Insights from bibliometric analysis," Journal of Business Research, Elsevier, vol. 134(C), pages 275-287.
    2. Verma, Surabhi & Gustafsson, Anders, 2020. "Investigating the emerging COVID-19 research trends in the field of business and management: A bibliometric analysis approach," Journal of Business Research, Elsevier, vol. 118(C), pages 253-261.
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