Evaluating the Impact of Energy Pricing Policies on Household Consumption Behavior in Light of Global Pandemics Using a Theoretical System Dynamics Model

Mohamad Hamed () and Jorge Marx Gómez ()
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Mohamad Hamed: University of Oldenburg
Jorge Marx Gómez: University of Oldenburg

A chapter in Smart and Secure Embedded and Mobile Systems, 2024, pp 83-90 from Springer

Abstract: Abstract Adapting to the new lifestyle necessitated by global pandemics has become imperative. With over 2 years of grappling with the effects of the Corona pandemic, it is crucial for governments to take control of the new lifestyle that has emerged as a result of the pandemic, with its far-reaching consequences for societies and economies. Continuing to implement environmentally strategic plans to combat global warming and transition to green energy is essential. However, despite the rise in renewable energy production, studies indicate that it may not be sufficient to reduce carbon emissions or achieve global warming goals. This is due to the intermittent and unstable nature of renewable energy production, which differs from conventional energy that is driven by consumer behavior and produced on demand. Energy pricing regulations play a significant role in influencing energy consumption behavior, particularly within households, and should be carefully considered across various life situations. However, the correlation between energy pricing regulations and household consumption patterns remains poorly understood. Pricing policies may have varying impacts on energy-consuming behavior during normal times and during pandemics. This chapter serves as an introductory study, proposing the adoption of a system dynamics methodology to assess the impacts of energy pricing policies on household consumption patterns. The objective is to foster consumption behavior that is more flexible and compatible with renewable energy production. The research focuses on Germany and presents a theoretical system dynamic model to examine the influence of implemented energy price regulations on household consumption behavior. The model analyzes householders’ responses to energy pricing policies and takes into account generating patterns in renewable energy resources, primarily solar and wind energy, which constitute a substantial portion of renewable energy output.

Keywords: Energy pricing policies; System dynamics (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prochp:978-3-031-56603-5_8

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DOI: 10.1007/978-3-031-56603-5_8

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