• Journal of Energy Engineering
• /
• v.21 no.1
• /
• pp.81-85
• /
• 2012

Electricity is the basic building block of economic development, and constitutes one of the vital infra-structural inputs in socio-economic development. The demand for electricity has been increasing due to extensive urbanization, industrialization, and a rise in the standard of living, as is the case with residential electricity consumption. This paper attempts to estimate the consumer surplus and the economic value of the residential consumption of electricity in Seoul to assist in decision-making in electricity management. The estimated consumer surplus represents the value of the area under the demand curve, above the actual price that is paid for residential electricity consumption. The estimated annual consumer surplus and economic value for the year 2005 amount to 2,144.7 and 3,727.4 billion won, respectively. The estimates per kWh were 184.9 and 316.0 won, respectively, which imply that the consumer surplus and the economic value of residential electricity consumption significantly outweigh the average price of electricity in 2005 of 91.1 won per kWh.

• Journal of Energy Engineering
• /
• v.22 no.3
• /
• pp.262-269
• /
• 2013

The residential energy consumption is intimately related with lifestyle of consumers. Therefore, this research suggests the mechanism for the effects of consumer lifestyle on consumer behavior. Specifically, the mediators are imposed of cost perception, propensity for environmental protection and energy conservation-conscious. Also, the lifestyle is composed of the over-consumption, life-centric, life-satisfaction, conservation- conscious and conservation-active type. In results, there are positive relationship between the life-satisfaction, conservation-conscious and conservation-active lifestyle and the propensity for environmental protection, cost perception. Both the cost perception and the propensity for environmental protection are positively related with the conservation- conscious. And positive relationship are appeared between the conservation-conscious and the energy conservation behavior.

• Asia Pacific Journal of Business Review
• /
• v.3 no.1
• /
• pp.19-38
• /
• 2018

The energy intensity of Nepal is economically not worthy, lacks eco-friendly and importantly not sustainable, and almost four times the average global energy intensity. Considerable efforts have been exercised to reduce the energy gap yet, it is still much to achieve. Nation priority on energy sector was envisaged with promulgation of investment friendly rules and law in hydropower and renewable technology even though, could not harness the sufficient energy. In amid of this acute energy crisis, the government launched the Nepal Energy Efficiency Programme (NEEP) with technical assistance from German International Cooperation (GIZ). Energy Efficiency (EE) practice is the most cost-effective method to reduce the supply and demand gap, reduce on greenhouse gases and pollution, and deter on import of petroleum products which finally improves on trade imbalance. This paper had proposed a framework of energy management team to promote energy efficient technologies in residential consumer. The energy management teams study the past records of energy use pattern of consumers and suggest appropriate technology for energy saving options. The paper provides some reviews of energy efficiency initiatives undertaken by the concern regulatory body which highlights the current status. The comprehensive knowledge acquired through exploratory research is implemented in this paper to identify the various barriers that domestic consumer is experiencing towards the active participation in energy efficiency program launched by the Government of Nepal.

• Asia pacific journal of information systems
• /
• v.27 no.2
• /
• pp.99-125
• /
• 2017

In this study, we propose an operations model to automate a home energy management system (HEMS) that utilizes an energy storage system (ESS) in consideration of consumer utility. Most previous studies focused on the system for the profits obtained from trading charged energy using large-scale ESS. By contrast, the present study focuses on constructing a home-level energy management system that considers consumer's utility over energy consumption. Depending on personal preference, some residential consumers may prefer consuming additional energy to earn increased profits through price arbitrage and vice versa. However, the current system could not yet reflect on this aspect. Thus, we develop an operations model for HEMS that could automatically control energy consumption while considering the level of consumer's preference and the economic benefits of using an ESS. The results of simulations using a dataset of the Korean market show that an operations policy of charging and discharging can be changed depending on consumer's utility. The impact of this policy is not ignorable. Moreover, the technical specifications of ESS, such as self-discharge rate and round-trip efficiency, can affect the operations policy and automation of HEMS.

• Proceedings of the SAREK Conference
• /
• 2009.06a
• /
• pp.650-655
• /
• 2009

In this study, a consumer willingness to pays for residential heating systems are estimated by economic valuation method. The major Korean residential heating systems in apartments are central heating system (CH), district heating system (DH), and individual heating system (IH). However, DH and IH systems are adopted in newly constructed apartments. Each heating system has own characteristics which residents can identify and value. 700 households in apartment were surveyed to analyze the preference of the residential heating systems and to estimate willingness to pay. We find that the households in DH system are more satisfied with their heating system than the households in other systems overall and that consumers prefer an apartment with DH system than with IH system and the willingness to pay for IH system is less than DH system. The results indicate that DH system has the relative premium which may be caused by the safety and the convenience to manage the system.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.10
• /
• pp.269-283
• /
• 2021

The government policies and initiatives to guarantee sustainable energy and clean environmental conditions contributed to the introduction of green technology electricity appliances in the market. This study sought to determine the physiological and socio-economics-demographic factors driving residential electricity consumers to use green technology electricity appliances, mainly solar PV, smart meter, electric vehicle, and battery storage technology. By understanding consumer intention, the investors of solar PV, battery storage, electric vehicle, and smart meter can estimate the demand and upscale the market for the corresponding products. For that purpose, the intention to use the solar PV, smart meter, electric vehicle, and battery storage function is developed by utilizing the combination of the theory of planned behavior, technology acceptance, and reasoning action. A reliable and valid structured online questionnaire and stepwise multiple regression are used to identify the possible factors that drive consumer behavior intention. The results show that the social influence, knowledge on RE, and perceived price significantly influence residential consumers' willingness to adopt the technologies offered. The findings of this study suggest that the involvement of NGOs, public figures, and citizens' cooperation are all necessary to spread information about the government's objectives and support Malaysia's present energy and environmental policies.

• Journal of Energy Engineering
• /
• v.22 no.1
• /
• pp.1-7
• /
• 2013

This paper attempts to estimate the residential electricity demand function, using survey data of 521 households in Korea. As the residential electricity demand function provides us information on the pattern of consumer's electricity consumption, it can be usefully utilized in predicting the impact of policy variables such as electricity price and forecasting electricity demands. We apply least absolute deviation(LAD) estimation as a robust approach to estimating parameters. The results showed that price and income elasticities are -0.68 and 0.14 respectively, and statistically significant at the 10% levels. The price and income elasticities portray that residential electricity is price- and income-inelastic. This implies that the residential electricity is indispensable goods to human-being's life, thus the residential electricity demand would not be promptly adjusted to responding to price and/or income change.

• Journal of Korea Water Resources Association
• /
• v.43 no.11
• /
• pp.957-965
• /
• 2010

The municipal water is directly related to the people's quality of life. To examine and implement reasonable water policies including management of the water demand and economically sound investment decisions, it is essential to estimate the conceptually correct and empirically valid economic value of water. This study attempts to estimate the consumer surplus and economic value of municipal water which is supplied to 16 cities in Korea using demand curve approach. The results indicate that the consumer surplus and economic value of municipal water in 2009 are estimated as KRW 1,180.7 per $m^3$ and KRW 1,812.8 per $m^3$, respectively. The economic values of municipal water in 16 cities range from KRW 1,082.7 per $m^3$ to KRW 3,268.6 per $m^3$. Moreover, the economic value of non-residential water is higher than that of residential water in all cities, and the economic value of water is higher than the present price of water. This study is expected to provide policy-makers with useful information to assess a policy and to evaluate the price of water.

• Smart Media Journal
• /
• v.8 no.4
• /
• pp.72-79
• /
• 2019

The automated demand response (DR) program encourages consumers to participate in grid operation by reducing power consumption or deferring electricity usage at peak time automatically. However, successful deployment of the automated DR program sphere needs careful assessment of appliances load profile (ALP). To this end, the recent method estimates frequency, consistency, and peak time consumption parameters of the daily ALP to compute their potential score to be involved in the DR event. Nonetheless, as the daily ALP is subject to varying with respect to the DR time ALP, the existing method could lead to an inappropriate estimation; in such a case, inappropriate appliances would be selected at the automated DR operation that effected a consumer comfort level. To address this challenge, we propose a more proper method, in which all the three parameters are calculated using ALP that overlaps with DR time, not the total daily profile. Furthermore, evaluation of our method using two public residential electricity consumption data sets, i.e., REDD and REFIT, shows that our energy management systems (EMS) could properly match a DR target. A more optimal selection of appliances for the DR event achieves a power consumption decreasing target with minimum comfort level reduction. We believe that our approach could prevent the loss of both utility and consumers. It helps the successful automated DR deployment by maintaining the consumers' willingness to participate in the program.

• Asian Journal of Atmospheric Environment
• /
• v.8 no.1
• /
• pp.48-58
• /
• 2014

Energy efficiency is vital to improve energy security, environmental and social sustainability, and economic performance. Improved energy efficiency also mitigates climate change by lowering greenhouse gas (GHG) emissions. Buildings are the single largest industrial consumer of energy and are therefore key to understanding and analyzing energy consumption patterns and the opportunities for saving energy at the district level in urban environments. This study focused on two representative boroughs in the major metropolitan area of Seoul, South Korea as a case study: Gandong-gu, a typical residential district, and Jung-gu, a typical commercial district. The sources of the energy supplied to the boroughs were determined and consumption patterns in different industry sectors in Seoul used to identify current patterns of energy consumption. The study analyzed the energy consumption patterns for five different building categories and four different sectors in the building using a bottom-up energy modeling approach. Electricity and gas consumption patterns were recorded for different building categories and monthly ambient temperatures in the two boroughs. Finally, a logarithmic equation was developed to describe the correlation between commercial activity and cooling energy intensity in Jung-gu, the commercial district. Based on these results, recommendations are made regarding the current energy consumption patterns at the district level and government energy policies are suggested to reduce energy consumption and, hence, greenhouse gas emissions, in both commercial and residential buildings.