Residential Energy Efficiency Investment and Demand Response Under Different Electricity Pricing Schemes: A Physical-Microeconomic Approach
Walid Matar ()
Discussion Papers from King Abdullah Petroleum Studies and Research Center
This paper expands on a previously-presented methodology that merges the physical properties of energy with microeconomic principles: The physical side of the model informs how much electricity is used to satisfy services that people desire, while the microeconomic side imposes a utility function to represent household satisfaction. This paper adds energy efficiency investment to the price-based behavioral demand response and presents results representative of the long-run steady-state. It examines several electricity pricing schemes and energy efficiency options, with the costs and benefits of each option explicitly modeled in the physical representation.
Keywords: Microeconomics; Electricity pricing schemes; Economic modelling; Household satisfaction (search for similar items in EconPapers)
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https://www.kapsarc.org/research/publications/resi ... roeconomic-approach/ First version, 2020
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Persistent link: https://EconPapers.repec.org/RePEc:prc:dpaper:ks--2020-dp07
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