ECONOMIC CONCEPTS OF ENERGY EFFICIENCY – A REVIEW

Abstract

 Energy security is the core of sustainable energy development. Energy efficiency is furthermore an important measure to ensure national energy supply security. According to the investigation of the number of production factors, energy efficiency indicators may be roughly divided into single-factor energy efficiency (SFEE) and totalfactor energy efficiency (TFEE). SFEE means the ratio between the effective output and the energy input of an economy, while the energy consumption per unit of GDP (gross domestic product) is typically used s its index. TFEE, on the base taking into account the combination of multiple factors of various social inputs (i.e., capital, labor, energy, etc.), gets the efficiency frontier using statistical analysis method. In recent years, TFEE has been widely applied to the study of energy efficiency, while data envelopment analysis (DEA) is the more popular method to analyze TFEE currently. The purpose of this research is to comprehensively study the economic concepts of above-mentioned energy efficiencies, from development history, theoretical models, and literature review, their advantages and disadvantages are analyzed by comparisons, and the future directions of development are set forth as well.

Authors and Affiliations

Shyi-Min Lu *

Keywords

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  • EP ID EP133648
  • DOI 10.5281/zenodo.60748
  • Views 52
  • Downloads 0

How To Cite

Shyi-Min Lu * (30).  ECONOMIC CONCEPTS OF ENERGY EFFICIENCY – A REVIEW. International Journal of Engineering Sciences & Research Technology, 5(8), 817-832. https://europub.co.uk/articles/-A-133648