Abstract
In recent years, Hunan province has gradually accelerated the adjustment of industrial structure, and has achieved a rapid industrial growth, thereupon the total amount of industrial electricity has increased greatly. There is an internal correlation between the industrial growth and electricity consumption. Therefore, based on this background, this paper established multiple linear regression models to study the influencing factors on the electricity consumption behavior of the three industries with the most electricity consumption in Hunan Province. The regression results show that the iron and steel output, raw coal price index and Mylpic mine price index can significantly affect the electricity consumption of ferrous metal industry. Cement output, cement price and real estate development investment can significantly affect the electricity consumption of non-metal industry. Automobile output, integrated circuit output and per capita disposable monthly income can significantly affect the electricity consumption of transportation and electrical and electronic equipment manufacturing industry in Hunan Province.
Highlights
As we all know, electricity consumption, as the "barometer" of economic development, plays a decisive role for the entire national economy (Shiu et al, 2004[1]; Tang et al, 2013[2]; Zhang et al, 2017[3]; Xia et al, 2020[4])
As industry is the pioneer of national economic development, the relationship between industrial electricity consumption and national economy is closer (Yuan et al, 2007[5]; Luo et al, 2012[6]; Hirsh et al, 2015[7])
Hunan province has gradually accelerated the adjustment of industrial structure, and has achieved a rapid industrial growth, thereupon the total amount of industrial electricity has increased greatly (Jiang et al, 2012[8]; Liu et al, 2020[9])
Summary
Electricity consumption, as the "barometer" of economic development, plays a decisive role for the entire national economy (Shiu et al, 2004[1]; Tang et al, 2013[2]; Zhang et al, 2017[3]; Xia et al, 2020[4]). As industry is the pioneer of national economic development, the relationship between industrial electricity consumption and national economy is closer (Yuan et al, 2007[5]; Luo et al, 2012[6]; Hirsh et al, 2015[7]). The industrial electricity consumption accounts for a large proportion of the total social electricity consumption, so its variation has attracted the attention of scholars. He et al (2006a[10], 2006b[11], 2007[12]) used Granger causality test and error correction model to. Hunan province as the research object and established multiple linear regression models to study the influencing factors on the electricity consumption behavior of the three industries with the most electricity consumption
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