Analysis of the Grey Correlation between Energy Consumption and Economic Growth in Fujian Province

Abstract

Based on the data of energy consumption and economic growth in Fujian Province from 2007 to 2018, the correlation degree between energy consumption and economic growth is studied by using grey correlation analysis. The results show that the the gross domestic product (GDP) of Fujian Province is significantly correlated with the energy consumption products. The correlation degree is greater than 0.7. The order of the correlation degree is oil, coal, hydropower, wind power nuclear power and natural gas. The correlation is significant between the total amount of energy consumption and the value added of primary, secondary and tertiary industries in Fujian Province. The correlation degree is more than 0.6, indicating that the economic growth of Fujian Province is more dependent on energy consumption. Fujian Province should optimize its energy structure, vigorously develop clean energy and realize the development strategy of low-carbon economy.