"Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies."
The study of how energy is produced, processed, and consumed.
Energy sources: An understanding of different sources of energy, including fossil fuels, renewable energy sources (solar, wind, hydropower), and nuclear energy and their environmental, social, economic, and political impacts.
Energy consumption: The patterns and trends in energy consumption across different sectors (residential, commercial, industrial, transportation) and regions, as well as the factors that influence energy use such as changes in technology, population growth, and economic development.
Energy pricing: How energy prices are determined, including the market mechanisms and regulatory frameworks that govern prices, and the factors that affect energy prices such as supply, demand, technological change, and policy interventions.
Energy efficiency: The measures that can be taken to reduce energy demand, including lifestyle changes, energy-efficient technologies, and energy management practices, as well as the policy interventions that promote energy efficiency.
Energy storage: The technologies for storing energy, including batteries, pumped hydro, and compressed air energy storage, and their economic and regulatory implications for energy systems.
Energy infrastructure: The physical infrastructure required to support energy supply and demand, including transmission and distribution networks, pipelines, and storage facilities.
Energy markets: Understanding the structure of energy markets, including wholesale and retail markets, trading platforms, and market participants (e.g., producers, suppliers, intermediaries), as well as the challenges and opportunities of energy market liberalization.
Energy policies: The policies that governments and other stakeholders use to manage energy supply and demand, including energy subsidies, taxes, incentives, and regulations, as well as the challenges and opportunities of designing effective energy policies in a complex and dynamic environment.
Energy security: The policies and practices aimed at ensuring a reliable and secure supply of energy, including emergency planning, diversification of energy sources, and energy diplomacy.
Climate change: The impact of energy supply and demand on the global climate, including greenhouse gas emissions from energy production and consumption and the policies and measures aimed at mitigating climate change.
Fossil Fuels: Non-renewable energy sources that come from decomposed organic matter, including coal, oil, and natural gas. These are used for transportation, heating, electricity generation, and industrial processes.
Renewables: Renewable energy sources such as solar, wind, hydro, and geothermal energy that rely on natural processes that replenish themselves over time. These are primarily used for electricity generation.
Nuclear Energy: Energy generated by splitting atoms. Nuclear energy is primarily used for electricity generation.
Biofuels: Fuels that are derived from renewable biological sources such as corn, sugarcane, and algae. Biofuels can be used to power vehicles or generate electricity.
Hydrogen: Hydrogen can be used as a fuel to power vehicles or generate electricity. It can be produced through the electrolysis of water.
Energy Storage: Technologies that store energy for later use, such as batteries or pumped hydro storage. Energy storage can help balance supply and demand on the grid.
Demand Response: Programs that encourage customers to reduce energy use during times of high demand. This helps avoid the need for additional generation capacity.
Energy Efficiency: Programs and technologies that reduce energy consumption without reducing quality of service or comfort levels. This can include things like energy-efficient light bulbs, HVAC systems, and building insulation.
Carbon Capture and Storage: Technologies that capture carbon dioxide emissions from power plants and other industrial processes and store them underground to prevent them from entering the atmosphere.
Smart Grid: Technologies and programs that use advanced sensors, meters, and communication networks to better manage energy supply and demand. This can help reduce costs and improve reliability.
"Considering the cost of energy services and associated value gives economic meaning to the efficiency at which energy can be produced."
"Energy services can be defined as functions that generate and provide energy to the desired end services or states."
"The efficiency of energy services is dependent on the engineered technology used to produce and supply energy."
"The goal is to minimize energy input required to produce the energy service, such as lighting, heating, and fuel."
"The main sectors considered in energy economics are transportation and building."
"Energy economics is relevant to a broad scale of human activities, including households and businesses at a microeconomic level and resource management and environmental impacts at a macroeconomic level."
"Energy services can be defined as functions that generate and provide energy to the desired end services or states."
"The efficiency of energy services is dependent on the engineered technology used to produce and supply energy."
"The goal is to minimize energy input required, e.g., kWh, mJ, see Units of Energy."
"The main sectors considered in energy economics are transportation and building, although it is relevant to a broad scale of human activities, including households and businesses."
"Energy economics is relevant to macroeconomic level resource management and environmental impacts."
"Considering the cost of energy services and associated value gives economic meaning to the efficiency at which energy can be produced."
"Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies."
"The efficiency of energy services is dependent on the engineered technology used to produce and supply energy."
"It is relevant to households at a microeconomic level."
"It is relevant to businesses at a microeconomic level."
"The main sectors considered in energy economics are transportation and building."
"The goal is to minimize energy input required to produce the energy service."
"The energy service, such as lighting (lumens), heating (temperature), and fuel (natural gas)."