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Questions tagged [energy-economics]

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Market modelling with prosumers

I am working on energy integration modelling in a system with prosumers. I was wondering if there is any well-known theory or model in the economics literature for markets (specially multi-commodity ...
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0answers
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Energy in production

Economists use labour and capital as the primary factors of production in income approach to output calcluation. Both labour and capital are reproducible factors. I can compute labour and capital cost ...
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1answer
18 views

Energy Costs by Source over Time

I'm looking for a comparison I can make between "traditional" energy sources and solar energy. Ideally, I'd like to show how much solar energy has yet to come down in price before it is cheaper than,...
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1answer
18 views

EV effects on family and macro-economics?

What happens economically when cars last 1000,000 miles on cheap local energy? EV's can save an average family 2000 dollars a year on energy costs, and 2000 per year on automotive investment. That'...
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2answers
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If 1% of the solar energy of the Sahara can power the entire world, why isn't it happening?

There is an article on Forbes where Mehran Moalem, UC Berkeley professor, argues: 1.2% of the Sahara desert is sufficient to cover all of the energy needs of the world in solar energy. [...] The ...
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1answer
49 views

What is the best example social norm effect economy?

Here is my example. I read the paper called "Social norms and Energy Conservation" (2010) by Hunt Allcott, about the energy conservation of households by providing them with the amount of energy ...
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2answers
715 views

How can energy consumption be an indicator of per capita availability of capital?

"An important indicator of low capital per head available in developing countries is the consumption of energy". I could not decipher the concept.
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1answer
38 views

Levelized cost of electricity, to calculate the absolute costs?

I'm doing my master thesis about the renewable energies. So my goal is to calculate how much it will cost to switch our fuel based energy generation to renewable energy generation. So my first thought ...
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3answers
3k views

How can power/electricity prices be negative?

Bloomberg shows this chart: I understand the above chart to mean that consumers were actually paid to use electricity. (Please correct me if I'm mistaken.) I was wondering how this is possible? How ...
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1answer
26 views

Energy saving technology and energy service price

I want to assess the effects of energy saving technologies on output growth using time series data. My work would benefit from time series data on patents for energy saving innovations, but this is ...
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0answers
53 views

Technology, Prices, and the Derived Demand for Energy

I was reading the paper by Berndt and Wood (1975), "Technology, Prices, and the Derived Demand for Energy". It was an interesting paper to read but there has not been anything done on this in nearly ...
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1answer
32 views

Locational Marginal Pricing when different prices and when the same?

I am kinda confused about this YouTube video. So the LMP with no constraints is the same in both nodes. For me it was the same because I used those offers from node 1 also in node 2 and we chose the ...
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2answers
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Are risk-costs a form of external costs?

An example to make to question more clear: With the use of nuclear power plants come several risk-costs (the risk of a nuclear disaster). These costs aren't included in the energy price and there is ...
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2answers
63 views

Are there any drawbacks to a hypothetical climate policy?- Carbon tax for reducing Income tax

Disclaimer: I do not have a formal education in economics Here is the idea of my hypothetical policy: graduated over a period, say about 10 years or longer, the income tax is phased out and a carbon ...
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0answers
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Economics of grid extension versus off-grid electrification in developing countries

Quite a bit of research is available on the local economic effects of electrification in communities in developing countries (this article and its references go into quite a bit of detail on the topic)...
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3answers
69 views

Why does BC Hydro want us to use less power?

I live in British Columbia, Canada, and we have a hydro electric company called BC hydro that supplies our power. They run ads encouraging us to use less power. I have been wondering why they would do ...
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364 views

Capital - augmenting and energy-augmenting technical progress

I've read a number of papers on factor - augmenting technical progress and directed technical change. Authors do not note about the implications of factor - augmentation in sufficient details. Assume ...
4
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1answer
1k views

Electricity as inelastic good

Could be electricity considered as an inelastic good? I am interested in the electricity delivered to final consumers in member countries of Nordpool Spot (Norway, Sweden, Finland, Denmark, Estonia, ...
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1answer
52 views

What are the implication of state-run oil production vs. private production from leases?

I'm not any kind of expert in this area, so please be gentle. It seems that we speak of oil (and other natural resources) as though control of output and revenue from extraction adheres to the ...
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1answer
33 views

Dec 2015: What would cause natural gas and crude oil to go up?

Natural gas prices are down like crazy this year as you can see from the chart below: I don't understand how these prices are maintainable. I know these this price trend is largely because of the ...
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0answers
242 views

Principal Components Analysis in Economic analysis

I have a data set of annual prices of various energy carriers over several decades. I want to estimate a model of output using these price series - I guess, I will do a co-integration analysis. There ...
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1answer
104 views

Ireland wholesale electricity prices are higher during the weekends

Some data from Ireland SEMO (weekday electricity prices) and quarterly prices from the European Commission imply that Irish weekend prices are greater than weekday prices. The same datasets used ...
2
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1answer
62 views

How do oil prices rise when crude oil inventories fall?

I am new to economics, I am reading a post on CNBC which states Weekly crude oil inventories unexpectedly fell, supporting further gains in oil prices. 1) Why does crude oil inventories unexpetedly ...
3
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1answer
47 views

Composition of EEX energy prices

I am working currently on EEX energy price data from Germany and so far I couldn't find out, if the prices already include taxes and the German Renewable Energy Act feed-in tarif (EEG-Umlage). I ...
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2answers
557 views

In Indonesia, reducing fuel subsidy strongly impacts the price of everyday goods. Why?

In Indonesia, petrol/gasoline price is regulated by the government and historically it is heavily subsidized. I know, economists typically consider fuel subsidy to be a bad policy, for many reasons, ...
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1answer
96 views

Introductory or Primer text on Economics?

I've been meaning to learn more about economics, and am looking for an introductory text or a primer on the topic. I've already taken a subject on this back in high school, but I guess what I'm ...
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1answer
98 views

If Americans drive more and consume more oil, why are cars less efficient?

According to this figure from the Center for Climate and Energy Solutions, US, Canada, or Australia car fuel efficiencies are considerably lower than those for Europe or Japan: At the same time, ...
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3answers
98 views

What oil price will minimise new resource extraction?

A higher oil price would increase incentives to develop new oil resource extraction, but it also increases the competitiveness of sustainable energy sources. Conversely, a low oil price might mean ...
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5answers
789 views

What are is the reasoning behind the sharp fall of oil prices starting in mid 2014?

Things I have considered: Poor economic conditions around the world could have caused an unpredicted decrease in demand. The resulting surplus has begun driving prices down. This could be ...
3
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1answer
146 views

Oil as a function of GDP

In Mankiw, N. (2012). Principles of Macroeconomics (6th ed.)., on pg 456 Mankiw says "The amount of oil used to produce a unit of real GDP has declined about 40 percent since the OPEC shocks of the ...
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1answer
227 views

Usage of natural gas in 1970 (where was the demand elasticity?)

The following historical graph of US Marketable Natural Gas volume has me puzzled: How was the gas used in 1970 (a peak production period), given that we would seem to be using a lot more gas now? ...