Shivam Sharda , Nicole Viz , Venu M. Garikapati , Konstadinos G. Goulias , Katelyn Stenger
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引用次数: 0
Abstract
Over the past two decades, new technologies and behavioral shifts – such as electric vehicles, solar photovoltaics, and increased work-from-home practices – have reshaped residential electricity consumption and cost. However, their combined or synergistic impact on a household’s electricity cost remains unexplored. Leveraging data from the 2020 Residential Energy Consumption Survey, this study uses a structural equation model to unravel the extent to which the bundled adoption of EV-PV and stay-at-home decisions impact the total electricity cost of households. Results indicate that adopting both EVs and PV reduces electricity costs by 31% despite a 16% rise in consumption. When combined with stay-at-home practices, households still experience a 13% cost reduction, even with a 25% increase in electricity consumption. These findings suggest that financial savings are not merely a byproduct of adopting new technologies or behavioral changes but could serve as a key consideration for household contemplating engagement with multiple modern energy solutions simultaneously.
期刊介绍:
Transportation Letters: The International Journal of Transportation Research is a quarterly journal that publishes high-quality peer-reviewed and mini-review papers as well as technical notes and book reviews on the state-of-the-art in transportation research.
The focus of Transportation Letters is on analytical and empirical findings, methodological papers, and theoretical and conceptual insights across all areas of research. Review resource papers that merge descriptions of the state-of-the-art with innovative and new methodological, theoretical, and conceptual insights spanning all areas of transportation research are invited and of particular interest.