A meta-analysis on the price elasticity and income elasticity of residential electricity demand

Lee, Seonjoo; Li, Lanlan; Zhou, Kaile; Zhang, Xiaoling; Yang, Shanlin

doi:10.1016/j.jclepro.2018.08.027

Cited by 98 publications

(43 citation statements)

References 28 publications

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“…Globally, almost all households' electricity demand is price inelastic in the short run, and predominantly so in the long run (Zhu et al 2018). This paper's model indicates that long-run price elasticities are highest in the summer months, but still less than unity.…”

Section: The Rebound Effectmentioning

confidence: 79%

Residential Energy Efficiency Investment and Demand Response Under Different Electricity Pricing Schemes: A Physical-Microeconomic Approach

Matar¹

2020

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The King Abdullah Petroleum Studies and Research Center (KAPSARC) is a non-profit global institution dedicated to independent research into energy economics, policy, technology and the environment across all types of energy. KAPSARC's mandate is to advance the understanding of energy challenges and opportunities facing the world today and tomorrow, through unbiased, independent, and high-caliber research for the benefit of society. KAPSARC is located in Riyadh, Saudi Arabia.

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Section: The Rebound Effectmentioning

confidence: 79%

Residential Energy Efficiency Investment and Demand Response Under Different Electricity Pricing Schemes: A Physical-Microeconomic Approach

Matar¹

2020

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“…Similarly, Baranzini and Weber [23], Brons [24], Lin and Prince [8] and Lim and Yoo [7] examined different countries such as Korea, Switzerland and the Netherlands and emphasized the same result. In addition, Zhu et al [25] and Algunaibet and Matar [26] are other studies that state that gasoline prices are one of the main drivers of gasoline demand.…”

Section: Literature Review On Gasoline Demandmentioning

confidence: 99%

Elasticity Analysis of Fossil Energy Sources for Sustainable Economies: A Case of Gasoline Consumption in Turkey

et al. 2020

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The current paper investigates the gasoline demand relationship in the case of Turkey, utilizing different econometric techniques and using quarterly data spanning from 2000Q1 to 2019Q1. The estimation results revealed that income and gasoline price are the main drivers of consumption. The found long-run income, price and auto stock elasticities are 0.25, −0.27 and −0.80, respectively. In addition, it is concluded that in the short-run, gasoline demand does not respond to changes in income, price and car stock. The estimation results also showed that the contribution of commercial and public car stock on gasoline demand is higher than that for private auto stock. Based on the finding of the study it is concluded that to achieve the optimal use of gasoline in line with providing high quality transport services, firstly, policies before the 2012 period can be followed. Secondly, channels such as pricing mechanism and taxation policies can be used in this framework.

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“…Table 1 reports a detailed description of all the considered variables and the corresponding units of measure. The proposed model does not include energy price as an explaining variable, since residential customers are defined as captive, namely, they do not react to price signals especially in the short run, since they have limited alternatives, therefore, their consumption is not largely affected by the price [36][37][38][39]. Obviously, this is true for limited price increase.…”

Section: Model Descriptionmentioning

confidence: 99%

Forecasting Energy Consumption in the EU Residential Sector

Bianco

Marchitto

Scarpa

et al. 2020

IJERPH

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The present paper aims to introduce a top down methodology for the forecasting of residential energy demand in four European countries, namely Germany, Italy, Spain, and Lithuania. The methodology employed to develop the estimation is based on econometric techniques. In particular, a logarithmic dynamic linear constant relationship of the consumption is proposed. Demand is estimated as a function of a set of explaining variables, namely heating degree days and gross domestic product per capita. The results confirm that the methodology can be applied to the case of Germany, Italy, and Spain, whereas it is not suitable for Lithuania. The analysis of elasticities of the demand with respect to the gross domestic product per capita shows a negative value for Germany, −0.629, and positive values for Italy, 0.837, and Spain, 0.249. The forecasting of consumption shows that Germany and Italy are more sensitive to weather conditions with respect to Spain and an increase in the demand of 8% and 9% is expected in case of cold climatic conditions.

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A meta-analysis on the price elasticity and income elasticity of residential electricity demand

Cited by 98 publications

References 28 publications

Residential Energy Efficiency Investment and Demand Response Under Different Electricity Pricing Schemes: A Physical-Microeconomic Approach

Residential Energy Efficiency Investment and Demand Response Under Different Electricity Pricing Schemes: A Physical-Microeconomic Approach

Elasticity Analysis of Fossil Energy Sources for Sustainable Economies: A Case of Gasoline Consumption in Turkey

Forecasting Energy Consumption in the EU Residential Sector

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