The equilibrium conditions for an economic system that produces output with several factors of production and which is subject to technological constraints are derived. Optimization of either output minus cost or integrated utility yields the conditions that output elasticities must be equal to...

Energy conversion in the production of goods and services, and the resulting emissions associated with entropy production, have not yet been taken into account by the mainstream theory of economic growth. Novel econometric analyses, however, have revealed energy as a production factor whose...

Since PV grid paraity has already been achieved in Germany, households are given an indirect financial incentive to invest in PV and battery storage capacities. This paper analyzes the economic consequences of the household's optimization behavior induced by the indirect financial incentive for...

Electricity generation from renewable energy sources (RES-E) is supposed to increase significantly within the coming decades. However, uncertainty about the progress of necessary infrastructure investments, public acceptance and cost developments of renewable energies renders the achievement of...