Electricity economics

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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.