Estimating Elasticity for Residential Electricity Demand in China

Table 2

Estimation results using OLS technique.

	Model 1: basic	Model 2: income effect	Model 3: urban versus rural
Dependent variable: ln(residential electricity consumption)
ln(PE_res)	−2.477***	−2.638***	−3.735***
	(0.374)	(0.493)	(0.492)
ln(Income)	0.058***	0.016**	0.063***
	(0.005)	(0.007)	(0.009)
ln(PE_ng)	−0.486**	(0.252)	0.304
	(0.247)	(0.258)	(0.246)
ln(HSIZE)	0.162***	0.103***	0.159***
	(0.021)	(0.030)	(0.029)
FSIZE	0.068***	0.069***	0.099***
	(0.013)	(0.013)	(0.012)
Age	0.002	0.000	−0.005***
	(0.001)	(0.001)	(0.001)
Edu	0.064***	0.052***	0.030***
	(0.004)	(0.005)	(0.003)
ln(PE_res)*Rich		0.482
		(0.661)
Rich		0.201
		(0.291)
ln(PE_res)*Urban			2.644***
			(0.652)
ln(Income)*Urban			−0.040***
			(0.011)
Urban			(0.240)
			(0.307)
Year FE	Y	Y	Y
	OLS	OLS	OLS
Observations	3298.000	3298.000	3298.000
R-squared	0.160	0.186	0.239

Note: Robust standard errors in parentheses; ***𝑃<0.01, **𝑃<0.05, *𝑃<0.1.