Comparing World Economic and Net Energy Metrics, Part 1: Single Technology and Commodity Perspective

Energies

Carey W. King¹  John P. Maxwell²  Alyssa Donovan³ 

[1] Energy Institute, the University of Texas at Austin, 2304 Whitis Ave., C2400, Austin, TX 78712, USASenate Fiscal Agency, P.O. Box 30036 Lansing, MI 48909-7536, USA;Jackson School of Geosciences, the University of Texas at Austin, 2275 Speedway, C9000, Austin, TX 78712, USA;

关键词: energy;    net energy;    price;    cost;    economics;    life cycle assessment;   

DOI  :  10.3390/en81112346

来源: mdpi

【 摘 要 】

We translate between biophysical and economic metrics that characterize the role of energy in the economy. Specifically, using data from the International Energy Agency, we estimate the energy intensity ratio (EIR), a price-based proxy for a power return ratio (PRR ) to indicate why PRRs translate to (the inverse of) energy prices and ERRs translate to (the inverse of) energy costs. We show why for any given value of an ERR or PRR, there is not a single corresponding energy cost or price, and vice versa. These principles in turn provide the basis to perform better modeling of future energy scenarios (e.g., low-carbon transition) by considering the relationship between economic metrics (cost and price) and biophysical metrics (energy and power return ratios) based on energy, material and power flows.

【 授权许可】

CC BY   
© 2015 by the authors; licensee MDPI, Basel, Switzerland.