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Energy Efficiency Gap
Energy efficiency gap refers to the improvement potential of energy efficiency or the difference between the cost-minimizing level of energy efficiency and the level of energy efficiency actually realized. It has attracted considerable attention among energy policy analysts, because its existence suggests that society has forgone cost-effective investments in energy efficiency, even though they could significantly reduce energy consumption at low cost. This term was first "coined" by Eric Hirst and Marilyn Brown in a paper entitled "Closing the Efficiency Gap: Barriers to the Efficient Use of Energy" in 1990. Introduction Energy efficiency refers to changes in equipment and behavior that result in increased energy services per unit of energy consumed, while behavioral changes that reduce energy use are often referred to as energy conservation. Energy intensity which measures energy consumption per Gross Domestic Product (GDP) is one indicator of energy efficiency. Many people ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Efficient Energy Use
Efficient energy use, or energy efficiency, is the process of reducing the amount of energy required to provide products and services. There are many technologies and methods available that are more energy efficient than conventional systems. For example, building insulation, insulating a building allows it to use less heating and cooling energy while still maintaining a Thermal comfort, comfortable temperature. Another method made by Lev Levich is to remove energy subsidies that promote high energy consumption and inefficient energy use. Improved energy efficiency in Green building, buildings, industrial processes and Energy efficiency in transport, transportation could reduce the world's energy needs in 2050 by one third. There are two main motivations to improve energy efficiency. Firstly, one motivation is to achieve Operating cost, cost savings during the operation of the appliance or process. However, installing an energy-efficient technology comes with an upfront cost, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity
Electricity is the set of physical phenomena associated with the presence and motion of matter possessing an electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as described by Maxwell's equations. Common phenomena are related to electricity, including lightning, static electricity, electric heating, electric discharges and many others. The presence of either a positive or negative electric charge produces an electric field. The motion of electric charges is an electric current and produces a magnetic field. In most applications, Coulomb's law determines the force acting on an electric charge. Electric potential is the Work (physics), work done to move an electric charge from one point to another within an electric field, typically measured in volts. Electricity plays a central role in many modern technologies, serving in electric power where electric current is used to energise equipment, and in electronics dealing w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incentive
In general, incentives are anything that persuade a person or organization to alter their behavior to produce the desired outcome. The laws of economists and of behavior state that higher incentives amount to greater levels of effort and therefore higher levels of performance. For comparison, a disincentive is something that discourages from certain actions. Divisions An incentive is a powerful tool to influence certain desired behaviors or action often adopted by governments and businesses. Incentives can be broadly broken down into two categories: intrinsic incentives and extrinsic incentives. Overall, both types of incentives can be powerful tools often employ to increase effort and higher performance according to the "law of behavior." Incentives are most studied in the area of personnel economics where economic analysts, such as those who take part in human resources management practices, focus on how firms make employees more motivated, through pay and career concerns, Fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Asymmetry
In contract theory, mechanism design, and economics, an information asymmetry is a situation where one party has more or better information than the other. Information asymmetry creates an imbalance of power in transactions, which can sometimes cause the transactions to be inefficient, causing market failure in the worst case. Examples of this problem are adverse selection, moral hazard,Dembe, Allard E. and Boden, Leslie I. (2000). "Moral Hazard: A Question of Morality?" New Solutions 2000 10(3). 257–79 and monopolies of knowledge. A common way to visualise information asymmetry is with a scale, with one side being the seller and the other the buyer. When the seller has more or better information, the transaction will more likely occur in the seller's favour ("the balance of power has shifted to the seller"). An example of this could be when a used car is sold, the seller is likely to have a much better understanding of the car's condition and hence its market value than the buy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intertemporal Choice
In economics, intertemporal choice is the study of the relative value people assign to two or more payoffs at different points in time. This relationship is usually simplified to today and some future date. Intertemporal choice was introduced by Canadian economist John Rae in 1834 in the "Sociological Theory of Capital". Later, Eugen von Böhm-Bawerk in 1889 and Irving Fisher in 1930 elaborated on the model. Fisher model Assumptions of the model # consumer's income is constant # maximization of the utility # anything above the line is out of explanation # investments are generators of savings # any property is indivisible and unchangeable According to this model there are three types of consumption: past, present and future. When making decisions between present and future consumption, the consumer takes his/her previous consumption into account. This decision making is based on an '' indifference map with negative slope'' because if he consumes something today it means th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Resources
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include ''manpower'', ''Labour (human activity), labor'', ''labor-power'', or ''personnel''. In vernacular usage, "human resources" or "human resource" can refer to the human resources department (HR department) of an organization, which performs human resource management, overseeing various aspects of employment, such as compliance with labor law and employment standards, job interview, interviewing and selection, performance management, administration of employee benefits, organizing of employee files with the required documents for future reference, and some aspects of recruitment (also known as talent acquisition), talent management, staff wellbeing, and employee offboarding. They serve as the link between an organization's management and its e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Production
Energy development is the field of activities focused on obtaining sources of energy from natural resources. These activities include the production of renewable, nuclear, and fossil fuel derived sources of energy, and for the recovery and reuse of energy that would otherwise be wasted. Energy conservation and efficiency measures reduce the demand for energy development, and can have benefits to society with improvements to environmental issues. Societies use energy for transportation, manufacturing, illumination, heating and air conditioning, and communication, for industrial, commercial, agricultural and domestic purposes. Energy resources may be classified as primary resources, where the resource can be used in substantially its original form, or as secondary resources, where the energy source must be converted into a more conveniently usable form. Non-renewable resources are significantly depleted by human use, whereas renewable resources are produced by ongoing proces ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Investment
Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broader viewpoint, an investment can be defined as "to tailor the pattern of expenditure and receipt of resources to optimise the desirable patterns of these flows". When expenditures and receipts are defined in terms of money, then the net monetary receipt in a time period is termed cash flow, while money received in a series of several time periods is termed cash flow stream. In finance, the purpose of investing is to generate a return on the invested asset. The return may consist of a capital gain (profit) or loss, realised if the investment is sold, unrealised capital appreciation (or depreciation) if yet unsold. It may also consist of periodic income such as dividends, interest, or rental income. The return may also include currency gains ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Warming
Present-day climate change includes both global warming—the ongoing increase in global average temperature—and its wider effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to Earth's climate. The current rise in global temperatures is driven by human activities, especially fossil fuel burning since the Industrial Revolution. Fossil fuel use, deforestation, and some agricultural and industrial practices release greenhouse gases. These gases absorb some of the heat that the Earth radiates after it warms from sunlight, warming the lower atmosphere. Carbon dioxide, the primary gas driving global warming, has increased in concentration by about 50% since the pre-industrial era to levels not seen for millions of years. Climate change has an increasingly large impact on the environment. Deserts are expanding, while heat waves and wildfires are becoming more common. Amplified warming in the Arctic has c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petroleum
Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refining, refined crude oil. Petroleum is a fossil fuel formed over millions of years from anaerobic decay of organic materials from buried prehistoric life, prehistoric organisms, particularly planktons and algae, and 70% of the world's oil deposits were formed during the Mesozoic. Conventional reserves of petroleum are primarily recovered by oil drilling, drilling, which is done after a study of the relevant structural geology, sedimentary basin analysis, analysis of the sedimentary basin, and reservoir characterization, characterization of the petroleum reservoir. There are also unconventional (oil & gas) reservoir, unconventional reserves such as oil sands and oil sh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fuel Prices
The usage and pricing of gasoline (or ''petrol'') results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation or subsidy, and the availability of local sources of gasoline (supply). Since fuels are traded worldwide, the trade prices are similar. The price paid by consumers largely reflects national pricing policy. Most countries impose taxes on gasoline (petrol), which causes air pollution and climate change; whereas a few, such as Venezuela, subsidize the cost. Some country's taxes do not cover all the negative externalities, that is they do not make the polluter pay the full cost. Western countries have among the highest usage rates per person. The largest consumer is the United States. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Policy
Energy policies are the government's strategies and decisions regarding the Energy production, production, Energy distribution, distribution, and World energy supply and consumption, consumption of energy within a specific jurisdiction. Energy is essential for the functioning of modern economies because they require energy for many sectors, such as industry, transport, agriculture, housing. The main components of energy policy include legislation, international treaties, Energy subsidy, energy subsidies and other public policy techniques. The energy sector emits more greenhouse gas worldwide than any other sector. Therefore, energy policies are closely related to climate policies. These decisions affect how high the greenhouse gas emissions by that country are. Purposes Access to energy is critical for basic social needs, such as lighting, heating, cooking, and healthcare. Given the importance of energy, the price of energy has a direct effect on jobs, economic productivi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
