Electricity Economics: Production Functions with Electricity

Economics of Electricity Consumption studies the production output from electricity consumption for enterprise, sectors, and industries via EAI (electricity as input) production function, and national economy via E-GDP (national electricity and GDP) function. The theoretical frameworks and models of economy from electricity consumption have been systematically introduced for the first time. In the book, the E-GDP functions for more than 20 countries are introduced, and high similarities of the four major characteristics are found between genes and EAI production functions as replication, mutation, uniqueness, and evolutionary. Our study also initially explores a similar pattern to substitute the Cobb Douglas function by EAI production function for tracking and forecasting economic activities. Power utility staff and researchers, graduate students in the fields of engineering, economics and MBA can get a comprehensive understanding from the book of the theory of economics of electricity consumption, EAI production functions and typical countries E-GDP function. The book can also help governments and companies formulate their E-GDP functions, analyze market, and calculate employment, etc. Dr. Zhaoguang Hu is the vice president and chief energy specialist at the State Grid Energy Research Institute, China.