Download or read book Short Run Price Elasticity of Residential Electricity Demand Within Income Levels and the Implications for CO2 Policy written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Responsiveness of Residential Electricity Demand to Changes in Price Information and Policy written by Youngsun Baek and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes consumers' behavioral responsiveness to changes in price and policy regarding residential electricity consumption, using a hybrid method of econometric analyses and energy market simulations with the National Energy Modeling System (NEMS). First, this study estimates price elasticities of residential electricity demand with the most recent Residential Energy Consumption Survey (RECS) data, collected in 2005, employing a conventional econometric model and a discrete/continuous choice model. Prior to the NEMS experiments with price shocks and consumers' behavioral features, this study uses NEMS to examine how energy policies would affect changes in retail electricity price in the future. When climate policies are implemented nationally, electricity prices are estimated to increase by 17% in 2030 with a carbon cap and trade initiatives and by 4% with Renewable Electricity Standards (RES). The short-run elasticity of demand estimated from the 2005 RECS is found to be in a range of -0.81 ~ -0.66, which is more elastic than the current NEMS assumption of -0.15. The 2005 RECS dataset details information about American households' energy consumption. This rich source of micro-level data complements the existing econometric analysis based on time series data.
Download or read book Residential Consumption of Gas and Electricity in the US written by Anna Alberini and published by . This book was released on 2015 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study residential demand for electricity and gas, working with nationwide household-level data that cover recent years, namely 1997-2007. Our dataset is a mixed panel/multi-year cross-sections of dwellings/households in the 50 largest metropolitan areas in the United States as of 2008. To our knowledge, this is the most comprehensive set of data for examining household residential energy usage at the national level, containing the broadest geographical coverage, and with the longest longitudinal component (up to 6 observations per dwelling). We estimate static and dynamic models of electricity and gas demand. We find strong household response to energy prices, both in the short and long term. From the static models, we get estimates of the own price elasticity of electricity demand in the -0.860 to -0.667 range, while the own price elasticity of gas demand is -0.693 to -0.566. These results are robust to a variety of checks. Contrary to earlier literature (Metcalf and Hassett, 1999; Reiss and White, 2005), we find no evidence of significantly different elasticities across households with electric and gas heat. The price elasticity of electricity demand declines with income, but the magnitude of this effect is small. These results are in sharp contrast to much of the literature on residential energy consumption in the United States, and with the figures used in current government agency practice. Our results suggest that there might be greater potential for policies which affect energy price than may have been previously appreciated.
Download or read book Short run Residential Electricity Demand a Policy Oriented Look written by Stephen Scott George and published by . This book was released on 1979 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Poverty and Distributional Impacts of Carbon Pricing Channels and Policy Implications written by Baoping Shang and published by International Monetary Fund. This book was released on 2021-06-25 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the poverty and distributional impacts of carbon pricing reforms is critical for the success of ambitious actions in the fight against climate change. This paper uses a simple framework to systematically review the channels through which carbon pricing can potentially affect poverty and inequality. It finds that the channels differ in important ways along several dimensions. The paper also identifies several key gaps in the current literature and discusses some considerations on how policy designs could take into account the attributes of the channels in mitigating the impacts of carbon pricing reforms on households.
Download or read book Household Energy Demand written by Myron Leslie Kwast and published by . This book was released on 1977 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Measuring Price and Income Elasticities of Residential Electricity Demand written by Atlana Puett and published by . This book was released on 2014 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published estimates of the price elasticity of residential electricity demand range from -0.29 to -0.70, for analyses based on household level data; however, the area level estimates from range from -0.02 to -0.15. A similar pattern has been reported for estimates of the income elasticity of residential demand for electricity. Each published study relied on one type of data set (aggregated or disaggregated) and these datasets cover different time periods and locations. This raises the question: does the pattern generated by the published results reflect systematic differences generated by the use of aggregated vs. disaggregated data, or does the pattern reflect random variations in the study settings? In this research the hypothesis has been tested that the pattern generated by the published results reflects the use of aggregated vs. disaggregated data, by constructing both an individual-level dataset and a county-level dataset for one state (State of Nevada) covering the period from 2005 to 2011. Both datasets have been used to estimate household and utility level price and income elasticities of residential demand for electricity. This research shows the same pattern reported in the published studies: the magnitude of the estimated price elasticity generated by the disaggregated data exceeds the magnitude of the estimate generated by the disaggregated data. However, the magnitudes of the two income elasticities do not follow the same pattern.
Download or read book Estimating the Residential Demand for Electricity written by Robin Emrich Logan and published by . This book was released on 1984 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Econometric Model Integrating Conservation Measures in the Residential Demand for Electricity written by J. Daniel Khazzoom and published by Elsevier. This book was released on 1986 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Responsiveness of Residential Electricity Demand in OECD Countries written by Ronald Bernstein and published by . This book was released on 2014 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we estimate residential electricity demand elasticities and conduct an analysis of the causal relationship between electricity demand, disposable income and electricity price for a group of several OECD members. We apply panel cointegration and Granger causality testing to a data set consisting of eighteen countries in the cross-sectional dimension and the years 1981-2008 in the time domain. Our results for the whole panel indicate a near unity income elasticity and an inelastic price elasticity of approximately -0.4 in the long run. These results are robust with regard to the estimation methods employed (group-means panel FMOLS and DOLS). In the short run, our estimates from an ECM indicate an income elasticity of 0.2 and a price elasticity of approximately -0.1. Moreover, our tests on Granger causality provide an indication for a bidirectional causal relationship between electricity consumption and economic growth. Hence, our findings are in favor of the feedback hypothesis.
Download or read book A Guide to Price Elasticities of Demand for Energy written by James A. Edmonds and published by . This book was released on 1978 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Short and Long run Time of use Price Elasticities in Swiss Residential Electricity Demand written by Massimo Filippini and published by . This book was released on 2010 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Residential End Use Electricity Demand and the Implications for Real Time Pricing in Sweden written by Mattias Vesterberg and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Price Elasticity of Electricity Demand in the United States written by Paul J. Burke and published by . This book was released on 2017 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we employ a dataset of three dimensions - state, sector, and year - to estimate the short- and long-run price elasticities of state-level electricity demand in the United States. Our sample covers the period 2003-2015. We contribute to the literature by employing instrumental variable estimation approaches, using the between estimator, and pursuing panel specifications that are able to control for multiple dimensions of fixed effects. We conclude that state-level electricity demand is very price inelastic in the short run, with a same-year elasticity of -0.1. The long-run elasticity is near -1, larger than often believed. Among the sectors, it is industry that has the largest long-run price elasticity of demand. This appears to in part be due to electricity-intensive industrial activities clustering in low-price states.
Download or read book The Long Run Dynamics of Electricity Demand written by Tatyana Deryugina and published by . This book was released on 2017 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the response of consumers to electricity prices is essential for crafting efficient energy market regulations, evaluating climate change policy, and investing optimally in infrastructure. We study the dynamics of residential electricity demand by exploiting price variation arising from a natural experiment: the introduction of an Illinois policy that enabled communities to select electricity suppliers on behalf of their residents. Participating communities experienced average price decreases in excess of 10 percent in the two years following adoption. Using a flexible difference-in-differences matching approach, we estimate a one-year price elasticity of -0.14 and three-year elasticity of -0.29. We also present evidence that consumers increased usage in anticipation of the price changes. Finally, we estimate a forward-looking demand model and project that the price elasticity converges to a value between -0.30 and -0.35 after ten years. Our findings demonstrate the importance of accounting for long-run dynamics in this context.
Download or read book OECD Series on Carbon Pricing and Energy Taxation Effective Carbon Rates Pricing CO2 through Taxes and Emissions Trading Systems written by OECD and published by OECD Publishing. This book was released on 2016-09-26 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents the first full analysis of the use of carbon pricing on energy in 41 OECD and G20 economies, covering 80% of global energy use and of CO2 emissions.
Download or read book Peak and Off Peak Demand for Electricity written by Runar Brännlund and published by . This book was released on 2018 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we explore subsistence levels and price elasticities for residential electricity demand in Sweden. Using a Stone-Geary functional form and unique Swedish data on residential electricity usage, we estimate demand Equations for peak and off-peak demand. We find that the subsistence levels are larger during peak than off-peak, and that there is a substantial variation in these subsistence levels across months. As a result, price responsiveness varies across hours and seasons. This has important policy implications, not the least with respect to effects of real time pricing, asit suggests that there are limits to households' price responsiveness.
