The electricity system resides within a broader macroeconomy of the world and nation, as well as consumers as citizens. Thus, there are many socioeconomic factors that can affect the Full Cost of Electricity. Rich households consume more electricity than poor households. Not only can corporations and regulated utilities own and control parts of the electricity system, it is becoming increasingly possible for individual citizens and communities to do the same. In addition, there is an array of stakeholders that seek influence at different levels of government to affect policies, such as regulations, taxes and subsidies, that in turn affect the perception of the Full Cost of Electricity.
The Full Cost of Electricity study seeks to include the macro-socioeconomic costs of the electricity system in the context of public policy, business models, and the various cost factors that place regulatory and socioeconomic factors with the context of the total direct and indirect costs of electricity.
Related Energy Institute Publications
The Levelized Cost of Electricity in Microgrids
The Past and Future of Net Metering for distributed Energy