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Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies. [1] Considering the cost of energy services and associated value gives economic meaning to the efficiency at which energy can be produced. [2]
Common energy efficiency label on appliances to indicate their energy efficiency in a clear manner. 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.
Measurable energy conservation and efficiency gains in the 1980s led to the 1987 Energy Security Report to the President (DOE, 1987) that "the United States uses about 29 quads less energy in a year today than it would have if our economic growth since 1972 had been accompanied by the less- efficient trends in energy use we were following at ...
Energy efficiency gap exists in various sectors, ranging from households, small businesses, corporations, and governments. [5] Many policies and programs have been developed to overcome those barriers and close the energy efficiency gap. Subsidies and incentives for energy-efficient technologies.
Luminous efficiency, a measure of how well a light source produces visible light; Fuel efficiency, the efficiency of converting potential energy in a fuel into kinetic energy; Energy efficiency in transportation, the fuel economy of various modes of transportation; Energy-efficient landscaping, a type of landscaping designed for the purpose of ...
Microeconomic reform is the implementation of policies that aim to reduce economic distortions via deregulation, and move toward economic efficiency. However, there is no clear theoretical basis for the belief that removing a market distortion will always increase economic efficiency.
In energy conservation and energy economics, the rebound effect (or take-back effect) is the reduction in expected gains from new technologies that increase the efficiency of resource use, because of behavioral or other systemic responses. These responses diminish the beneficial effects of the new technology or other measures taken.
Renewable energy in developing countries is an increasingly used alternative to fossil fuel energy, as these countries scale up their energy supplies and address energy poverty. Renewable energy technology was once seen as unaffordable for developing countries. [ 201 ]