Abstract
This paper proposes a statistical mechanical model for the energy conservation behaviour of energy users. The model was inspired by the multipopulation Curie-Weiss model and the discrete choice with social interaction model. We demonstrate that the model integrates the sociopsychological, the economic, and the energy technologist viewpoints to energy management, allowing us to subject these perspectives to an empirical study.
Highlights
Energy is one of the most important drivers of the economy of every country
A discrete choice with social interaction model for energy conservation behaviour
The key question here is, how many independent predictors should we use for the estimation? This question is answered with the help of the root mean square error of prediction for models formed from increasing subsets of the extracted independent predictors that are sorted in decreasing order of importance
Summary
Energy is one of the most important drivers of the economy of every country. Often, managing the energy resources has been a problem. Electrical energy plays an indispensable role in undertaking most of our daily activities from refrigeration, cooking, lighting, entertaining to powering of machines and record keeping in the industrial and commercial sectors [1]. Electrical energy serves as a crucial resource for productive and quality education, efficient healthcare delivery, transportation systems, and the exploration of minerals such as iron and gold. These serve as the building block on which every sector of a nation’s economy thrives for development [1]. The efficient use of resources available at a given time by the energy end users has been a challenge. Progress towards such a model has been limited by the theoretical preferences of the various disciplines involved in energy research [2]
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