Using Energy as a Currency in Newly Electrified Communities : Simulated Impacts and Prospects
Very little work has been done on the quantitative impact of energy-based community currencies in newly electrified communities. This paper proposes a quantitative framework and uses simulation to evaluate the impact of Energy Currency (EC) based on data from three newly electrified villages when energy tokens are used as a community currency. The framework for evaluating the EC concept for newly electrified communities is proposed based on the literature review of energy-based currencies, community currencies, and community electrification evaluative frameworks. The impact is measured along the economy, environment, and energy axes. The simulations confirm an increase in household income with the implementation of EC while reporting a decline in carbon footprint and reduced costs of reliable energy. The income inequality, however, does not show a consistent trend when the EC is implemented. Our findings suggest that using energy currency helps abate the economy-ecology conflict and provides a viable climate financing instrument
Year of publication: |
[2023]
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Authors: | Fernando, Dominic ; Sgouridis, Sgouris ; Mehta, Atul ; Murti, Ashutosh |
Publisher: |
[S.l.] : SSRN |
Saved in:
freely available
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