The economics of electricity is shaped by its physics. A well know example is the non-storability of electricity that causes its price to fluctuate widely. More generally, physical constraints cause electricity to be a heterogeneous good along three dimensions - time, space, and lead-time....

Across many developing nations, such as Rwanda, the absence of electricity has significantly reduced the economic impact of rural communities. A common practice in some locations is to process farm products using locally fabricated machines, which diminishes the quality and quantity of...