A Stochastic Logistic Innovation Diffusion Model Studying the Electricity Consumption in Greece and the United States

1999 ◽  
Vol 61 (3) ◽  
pp. 235-246 ◽  
Author(s):  
A.N. Giovanis ◽  
C.H. Skiadas
Keyword(s):  
United States ◽  
Innovation Diffusion ◽  
Diffusion Model ◽  
Electricity Consumption ◽  
The United States ◽  
Logistic Innovation

Potential of Utilizing Thermal Energy Storage Integrated Ground Source Heat Pump System to Reshape Electricity Demand in the United States

2021 ◽  
pp. 1-54
Author(s):  
Liang Shi ◽  
Xiaobing Liu ◽  
Ming Qu ◽  
Guodong Liu ◽  
Zhi Li
Keyword(s):  
United States ◽  
Energy Storage ◽  
Thermal Energy ◽  
Thermal Energy Storage ◽  
Penetration Rate ◽  
Electricity Consumption ◽  
The United States ◽  
Ground Source Heat Pump ◽  
Ground Source ◽  
Maximum Penetration

Abstract More than 20% of electricity generated in the United States each year is consumed for meeting the thermal demands (e.g., space cooling, space heating, and water heating) in residential and commercial buildings. Integrating thermal energy storage (TES) with building's HVAC systems has the potential to reshape the electric load profile of the building and mitigate the mismatch between the renewable generation and the demand of buildings. A novel ground source heat pump (GSHP) system integrated with underground thermal energy storage (UTES) has been proposed to level the electric demand of buildings while still satisfying their thermal demands. This study assessed the potential impacts of the proposed system with a bottom-up approach. The impacts on the electricity demand in various electricity markets were quantified. The results show that, within the capacity of the existing electric grids, the maximum penetration rate of the proposed system in different wholesale markets could range from 51% to 100%. Overall, about 46 million single-family detached houses can be retrofitted into the proposed system without increasing the annual peak demand of the corresponding markets. By implementing the proposed system at its maximum penetration rate, the grid-level summer peak demand can be reduced by 9.1% to 18.2%. Meanwhile, the annual electricity consumption would change by −12 % to 2%. The nationwide total electricity consumption would be reduced by 9%.

Electricity Demand as a High-Frequency Economic Indicator: A Case Study of the COVID-19 Pandemic and Hurricane Harvey

FEDS Notes ◽  
2020 ◽  
Vol 2020 (2792) ◽  
Author(s):  
Joshua Blonz ◽  
◽  
Jacob Williams ◽  
Keyword(s):  
United States ◽  
Natural Disaster ◽  
High Frequency ◽  
Electricity Consumption ◽  
Economic Indicator ◽  
The United States ◽  
Electricity Demand ◽  
Economic Conditions ◽  
Economic Shocks

Electricity is used by all businesses in the United States. During quickly moving economic shocks—for example, a pandemic or natural disaster—changes in electricity consumption can provide insight to policymakers before traditional survey-based metrics, which can lag weeks or months behind economic conditions and typically only show a snapshot of when the survey was conducted.

scholarly journals Analysis Of The Relationship Between Economic Cycle Swings And Adoption Rate Models Of Financial Innovation Diffusion

2015 ◽  
Vol 13 (2) ◽  
pp. 103
Author(s):  
Acie S. Forrer ◽  
Donald A. Forrer
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Innovation Diffusion ◽  
Financial Innovation ◽  
The United States ◽  
Unintended Consequences ◽  
Financial Industry ◽  
Economic Cycle ◽  
Financial Innovations ◽  
The Relationship

The United States financial crisis, starting with the credit boom of 2007 and ending with the failure of Lehman Brothers in September 2008, has led to a loss of confidence in the United States financial system. The Financial Crisis Inquiry Commission indicated that the financial crisis affected over 26 million Americans. Many scholars have attributed the crisis to financial innovations, such as mortgage backed securities, adjustable rate mortgages and no-income verified loans, as key innovations that led to the market collapse. Financial innovations have had both positive and negative impacts on the financial industry. Providing a framework that describes the relationship between economic cycle swings and adoption rates of innovative financial instruments can provide greater stability and predictability in financial innovation diffusion, which can lead to more stable returns for shareholders and enhance the public interest through a healthy, innovative and more stable financial industry. An abbreviated evidence-based systematic review was completed on financial innovations that led to the financial crisis of 2007. The research suggests that there is an equilibrium period of time that financial organizations can adopt innovation to avoid unintended consequences like the recent financial crisis. Providing a framework of adoption time can demonstrate where financial innovations can be absorbed to provide the organization with the ability to financially innovate during pro and counter cyclical economic periods. Through an understanding of the timing of financial innovations as they occur in economic cycles, managers of financial organizations can choose the adoption period of time more carefully which could have averted the financial crisis that affected millions of Americans.

Preserving Free Innovators’ Legal Rights

2016 ◽  
Author(s):  
Eric von Hippel
Keyword(s):  
United States ◽  
Innovation Diffusion ◽  
The United States ◽  
Legal Rights ◽  
Innovation Development ◽  
Household Sector

This chapter reviews household sector innovators' legal rights to engage in innovation and innovation diffusion. It reveals that free innovators have very strong legal rights, at least in the United States, with respect to both innovation development and innovation diffusion. Despite their generally favorable situation, however, free innovators' freedom to operate is frequently curtailed, and free innovation costs are often raised, by regulations or legislation promulgated for other purposes—often without awareness that free innovation even exists. To conclude, this chapter makes specific suggestions for improving this scenario, and also proposes an increase in awareness of free innovation as well as the benefits it brings to society.

Book Reviews

2012 ◽  
Vol 50 (1) ◽  
pp. 222-224
Keyword(s):  
Climate Change ◽  
United States ◽  
Financial Distress ◽  
Agricultural Development ◽  
Electricity Consumption ◽  
The United States ◽  
Kuznets Curve ◽  
Billing Data ◽  
The Great Depression ◽  
The Impact

Aaron Swoboda of Carleton College reviews “The Economics of Climate Change: Adaptations Past and Present” by Gary D. Libecap and Richard H. Steckel. The EconLit Abstract of the reviewed work begins: Eleven papers explore the economics of climate change, focusing on how economies, particularly that of the United States, have adjusted to past challenges posed by climate change. Papers discuss additive damages, fat-tailed climate dynamics, and uncertain discounting (Martin L. Weitzman); modeling the impact of warming in climate change economics (Robert S. Pindyck); droughts, floods, and financial distress in the United States (John Landon-Lane, Hugh Rockoff, and Richard H. Steckel); the effects of weather shocks on crop prices in unfettered markets--the United States prior to the farm programs, 1895–1932 (Jonathan F. Fox, Price V. Fishback, and Paul W. Rhode); information and the impact of climate and weather on mortality rates during the Great Depression (Fishback, Werner Troesken, Trevor Kollmann, Michael Haines, Rhode, and Melissa Thomasson); responding to climatic challenges--lessons from U.S. agricultural development (Alan L. Olmstead and Rhode); the impact of the 1936 Corn Belt drought on American farmers' adoption of hybrid corn (Richard Sutch); the evolution of heat tolerance of corn--implications for climate change (Michael J. Roberts and Wolfram Schlenker); climate variability and water infrastructure--historical experience in the western United States (Zeynep K. Hansen, Gary D. Libecap, and Scott E. Lowe); whether Frederick Brodie discovered the world's first environmental Kuznets curve--coal smoke and the rise and fall of the London fog (Karen Clay and Troesken); and the impacts of climate change on residential electricity consumption--evidence from billing data (Anin Aroonruengsawat and Maximilian Auffhammer). Libecap is Donald Bren Distinguished Professor of Corporate Environmental Management and Professor of Economics at the University of California, Santa Barbara. Steckel is the Social and Behavioral Sciences Distinguished Professor of Economics, Anthropology, and History and a Distinguished University Professor at Ohio State University. Name and subject indexes.

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