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

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  • Walid Matar

    (King Abdullah Petroleum Studies and Research Center)

Abstract

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.

Suggested Citation

  • Walid Matar, 2020. "Residential Energy Efficiency Investment and Demand Response Under Different Electricity Pricing Schemes: A Physical-Microeconomic Approach," Discussion Papers ks--2020-dp07, King Abdullah Petroleum Studies and Research Center.
    • Handle: RePEc:prc:dpaper:ks--2020-dp07
    DOI: 10.30573/KS--2020-DP07
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    File URL: https://www.kapsarc.org/research/publications/residential-energy-efficiency-investment-and-demand-response-under-different-electricity-pricing-schemes-a-physical-microeconomic-approach/
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    Keywords

    Microeconomics; Electricity pricing schemes; Economic modelling; Household satisfaction;
    All these keywords.

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