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Influence of Racial Diversity, Climate Change, and Socioeconomic Factors on Domestic Energy Use and Costs
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Business and Economics Journal

ISSN: 2151-6219

Open Access

Mini Review - (2023) Volume 14, Issue 2

Influence of Racial Diversity, Climate Change, and Socioeconomic Factors on Domestic Energy Use and Costs

Joshua Mersky*
*Correspondence: Joshua Mersky, Department of Economics, University of Wisconsin-Milwaukee, 2400 E. Hartford Ave., Milwaukee, WI, 53211, USA, Email:
Department of Economics, University of Wisconsin-Milwaukee, 2400 E. Hartford Ave., Milwaukee, WI, 53211, USA

Received: 02-Feb-2023, Manuscript No. bej-23-94585; Editor assigned: 04-Feb-2023, Pre QC No. P-94585; Reviewed: 16-Feb-2023, QC No. Q-94585; Revised: 21-Feb-2023, Manuscript No. R-94585; Published: 28-Feb-2023 , DOI: 10.37421/2151-6219.2023.14.426
Citation: Mersky, Joshua. “Influence of Racial Diversity, Climate Change and Socioeconomic Factors on Domestic Energy Use and Costs.” Bus Econ J 14 (2023): 426.
Copyright: © 2023 Mersky J. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Abstract

Climate change is a global phenomenon that refers to the long-term changes in the Earth's climate, including changes in temperature, precipitation, and weather patterns. The primary cause of climate change is the increase in greenhouse gas emissions, primarily carbon dioxide, from human activities such as burning fossil fuels for energy and transportation, deforestation, and industrial processes. The effects of climate change are widespread and include rising sea levels, more frequent and severe weather events, and shifts in ecosystems.

Keywords

Socioeconomic • Domestic energy • Economics

Introduction

One of the key drivers of greenhouse gas emissions is domestic energy use, including electricity, heating, and transportation. In this article, we will explore the socioeconomic factors that influence domestic energy use and costs, and how they are related to climate change. Socioeconomic Factors: Socioeconomic factors play a critical role in determining domestic energy use and costs. These factors include income, housing type and size, and location.

Income is one of the most significant socioeconomic factors affecting domestic energy use and costs. Low-income households tend to spend a higher proportion of their income on energy bills than high-income households. This is because they often live in less energy-efficient housing and cannot afford to invest in energy-efficient appliances or home upgrades. Additionally, low-income households may face energy insecurity, where they cannot afford to pay their energy bills and may experience disconnections or reduced usage. This can lead to health and safety issues, such as insufficient heating in the winter or the use of unsafe heating sources [1].

Literature Review

Housing type and size

The type and size of housing also influence domestic energy use and costs. Larger homes require more energy to heat and cool and older homes may have less energy-efficient features such as inadequate insulation or outdated appliances. Apartments and other multi-unit buildings may also have different energy use patterns, depending on shared spaces and building systems. Location is another important socioeconomic factor in domestic energy use and costs. Homes in colder climates require more energy for heating, while homes in warmer climates require more energy for cooling. Additionally, homes located in urban areas may have different energy use patterns than homes in rural areas, depending on transportation options and access to public transportation [2].

Impact on climate change

The socioeconomic factors that influence domestic energy use and costs also have significant implications for climate change. For example, low-income households may be less able to invest in energy-efficient upgrades, meaning they are more likely to continue using energy from fossil fuels that contribute to greenhouse gas emissions. Additionally, households in larger, less energy-efficient homes may consume more energy overall, leading to higher greenhouse gas emissions. Location is also critical, as households in areas with colder climates may consume more energy for heating, while households in areas with warmer climates may consume more energy for cooling [3].

Reducing domestic energy use and costs

Reducing domestic energy use and costs is critical for both mitigating climate change and reducing the economic burden on households. There are several strategies that can be used to achieve this goal.

Energy efficiency upgrades

One of the most effective ways to reduce domestic energy use and costs is to invest in energy efficiency upgrades. This can include upgrading insulation, installing energy-efficient windows and doors, and replacing old appliances with more efficient models. While these upgrades can be expensive, they can result in significant savings on energy bills over time. Renewable energy, such as solar or wind power, can also be used to reduce domestic energy use and costs. While the initial investment can be high, renewable energy systems can provide long-term savings on energy bills and reduce reliance on fossil fuels [4].

Energy assistance programs

Energy assistance programs, such as the Low Income Home Energy Assistance Program (LIHEAP) in the United States, provide financial assistance to low-income households to help cover energy costs. These programs can help alleviate energy insecurity and reduce the economic burden on low-income households. Domestic energy is the energy that is consumed in homes and buildings for heating, cooling, lighting, and powering appliances. It includes electricity, natural gas, oil, propane, and other fuels that are used to meet the energy needs of households. In this article, we will explore the sources of domestic energy, their uses, and the challenges and opportunities associated with their consumption [5].

Sources of domestic energy

Electricity is the most common source of domestic energy, and it is used for a variety of purposes, including lighting, heating, and cooling. In the United States, the majority of electricity is generated from fossil fuels, such as coal, natural gas, and oil, but renewable sources, such as wind and solar, are becoming increasingly important. Natural gas is another important source of domestic energy, particularly for heating and cooking. It is a relatively clean burning fuel that produces fewer greenhouse gas emissions than coal or oil. However, natural gas is a non-renewable resource, and concerns have been raised about the environmental and social impacts of hydraulic fracturing, or fracking, which is used to extract it. Oil and propane are also used for heating and cooking, particularly in areas where natural gas is not available. Both are fossil fuels and produce greenhouse gas emissions when burned. However, oil and propane can be replaced with renewable sources of energy, such as biomass or geothermal, which can reduce their environmental impact [6].

Uses of domestic energy

Heating and cooling account for the largest share of domestic energy use, particularly in regions with extreme temperatures, In the United States, space heating and cooling account for more than half of residential energy use, followed by water heating and lighting. Appliances, such as refrigerators, washing machines, and televisions, also consume a significant amount of domestic energy. However, the efficiency of appliances has improved in recent years, and energy-efficient models are widely available.

Challenges and opportunities

One of the main challenges associated with domestic energy consumption is the environmental impact of fossil fuels. Burning fossil fuels releases greenhouse gases, such as carbon dioxide, into the atmosphere, which contribute to climate change. In addition, the extraction and transportation of fossil fuels can have negative environmental and social impacts, such as air and water pollution. Domestic energy is the energy that is consumed in homes and buildings for heating, cooling, lighting, and powering appliances. It includes electricity, natural gas, oil, propane, and other fuels that are used to meet the energy needs of households. In this article, we will explore the sources of domestic energy, their uses, and the challenges and opportunities associated with their consumption.

Sources of domestic energy

Electricity is the most common source of domestic energy, and it is used for a variety of purposes, including lighting, heating, and cooling. In the United States, the majority of electricity is generated from fossil fuels, such as coal, natural gas, and oil, but renewable sources, such as wind and solar, are becoming increasingly important. Natural gas is another important source of domestic energy, particularly for heating and cooking. It is a relatively cleanburning fuel that produces fewer greenhouse gas emissions than coal or oil. However, natural gas is a non-renewable resource, and concerns have been raised about the environmental and social impacts of hydraulic fracturing, or fracking, which is used to extract it. Oil and propane are also used for heating and cooking, particularly in areas where natural gas is not available. Both are fossil fuels and produce greenhouse gas emissions when burned. However, oil and propane can be replaced with renewable sources of energy, such as biomass or geothermal, which can reduce their environmental impact.

Discussion

Challenges and opportunities

One of the main challenges associated with domestic energy consumption is the environmental impact of fossil fuels. Burning fossil fuels releases greenhouse gases, such as carbon dioxide, into the atmosphere, which contribute to climate change. In addition, the extraction and transportation of fossil fuels can have negative environmental and social impacts, such as air and water pollution, habitat destruction, and human rights abuses. Another challenge is the cost of energy. Domestic energy prices can be volatile, and fluctuations in the prices of oil and natural gas can have a significant impact on household budgets. In addition, low-income households may be disproportionately affected by energy costs, as they may have limited resources to invest in energy efficiency or alternative energy sources. However, there are also opportunities associated with domestic energy consumption.

Conclusion

The adoption of renewable energy sources, such as wind and solar, can reduce greenhouse gas emissions and dependence on fossil fuels. In addition, energy efficiency measures, such as insulation, weatherization, and efficient appliances, can reduce energy consumption and save households money in the long run. Domestic energy consumption is a significant contributor to global greenhouse gas emissions and can have a significant impact on household budgets. However, there are opportunities to reduce energy consumption and adopt renewable energy sources, which can reduce the environmental impact of energy use and save.

Acknowledgement

None.

Conflict of Interest

None.

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