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Exergy economics: new insights into energy consumption and economic growth

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posted on 2023-06-09, 21:28 authored by Paul Brockway, Steven SorrellSteven Sorrell, Tim FoxonTim Foxon, Jack Miller
This chapter presents a new field of research – termed exergy economics – which offers a new perspective on the contribution of energy to economic growth. The approach is based upon the thermodynamic concept of useful exergy and the associated measures of exergy efficiency. Contrary to orthodox economics, the chapter argues that improvements in exergy efficiency are a key driver of productivity improvements, and that useful exergy is a key driver of economic growth. The chapter summarises the theoretical arguments underpinning these claims, reviews the recent empirical work in this area and highlights some of the implications.

Funding

Research Centre on Innovation and Energy Demand; G1020; RCUK-RESEARCH COUNCILS UK; EP/K011790/1

History

Publication status

  • Published

File Version

  • Published version

Publisher

Taylor & Francis

Page range

133-155

Pages

280.0

Book title

Transitions in Energy Efficiency and Demand:The Emergence, Diffusion and Impact of Low-Carbon Innovation

Place of publication

London

ISBN

9780815356783

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • No

Peer reviewed?

  • No

Editors

Kirsten E H Jenkins, Debbie Hopkins

Legacy Posted Date

2020-09-01

First Open Access (FOA) Date

2020-09-01

First Compliant Deposit (FCD) Date

2020-09-01

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