This study provides a systematic analysis of the relationship between electricity consumption and production output across various enterprises, sectors, and industries. Utilizing the concept of EAI (electricity as input), it incorporates national E-GDP figures from over 20 countries, offering valuable insights into the economic impact of electricity usage in different contexts.
The book focuses on low-carbon issues and China’s economy, which is analyzed from the perspective of electricity economics. It proposes the novel concept of an “economic gene” to reflect certain characteristics of the economy. The gene mapping of China’s economy has been studied based on production functions with electricity. Economic mutations have also been studied with the aim of diagnosing problems in the economy. Two such mutations have occurred in China since 1978, the most recent being in 2012 and no further mutation is expected until 2025. The book describes the inherent quality of China’s economy from 2012 to 2025, and how mechanism reforms would greatly improve marginal representative factor productivity in this period. The agents response equilibrium (ARE) approach to simulate national economy, based on multi-agent technology is proposed. Another cornerstone of the model is the input-output table. Simulated input-output tables from 2011 to 2025 are provided in the book. This book provides recommendations for policy makers and advisors, and is a valuable resource for researchers in the fields of economics, public policies, low-carbon development, electricity and energy. It also provides insights into China’s economic development.
Electricity Economics: Production Functions with Electricity examines production output through electricity consumption patterns. Utilizing accurate and reliable electricity data, the research aids scholars in exploring new economic frontiers that benefit society. It proposes a novel approach by substituting the Cobb–Douglas function with an electricity-based production function to analyze and forecast economic activities. The book systematically presents theoretical frameworks and mathematical models of economics from the lens of electricity consumption. It introduces E-GDP functions through case studies from over 20 developed and developing nations, revealing significant parallels between human DNA and electricity-based production functions, particularly in replication, mutation, uniqueness, and evolution. Additionally, the work features extensive data and case studies from countries such as the U.S., China, and Japan. The intended audience includes scientists, engineers, financial professionals, policymakers, and consultants interested in electricity economics and its applications. Dr. Zhaoguang Hu serves as the vice president and chief energy specialist at the State Grid Energy Research Institute in China, while Zheng Hu is a PhD candidate at the Center for Energy and Environmental Policy at the University of Delaware, USA.