Residential Consumption of Gas and Electricity in the U.S.: The Role of Prices and Income
by Anna Alberini 1 and 2, Will Gans 1 and Daniel Velez-Lopez 1
1. University of Maryland / AREC Department / Rm. 2200 Symons Hall / College Park, MD 20742–5535. Tel.: + 301 105 1267; fax: + 301 314 9091
2. CEPE, ETH Zürich
Energy Economics via Elsevvier Science Direct www.ScienceDirect.com
Article in Press, Accepted Manuscript; Available online February 8, 2011 A full free November, 2010 version of the paper is available at http://www.cepe.ethz.ch/publications/workingPapers/CEPE_WP77.pdf. In that paper the authors note: We computed the total variation of real electricity prices and of log real electricity prices, and found that in each case the variation within dwellings accounted for only 4% of the total variation. Our measure of variation is the sum of square deviations from the grand mean. Gas prices are more variable over time: the “within” dwelling variation accounts for about 14% of total variation in real gas prices, and 15% of the total variation for log real gas prices.
Consumption of electricity increases by 22% for every 10% increase in the square footage of the home, is 16% higher if the home has air conditioning, and about 15% higher if the home is heated using electricity. Dishwashers and electrical stoves increase usage by 8% and 7%, respectively.
The model with city-specific effects indicates that gas usage increases by 19% for every 10 percentage point increase in the square footage of the home, and is about 24% larger in homes with gas heating systems. The impact of these variables is small and statistically insignificant in the variants with dwelling- and dwelling- household effects. ...
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