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A Study of Agricultural Use of Electrical Energy Demand : An Application to Korean Rice Farm

The agricultural use of electrical energy consumption keeps increasing due to its relatively lower price than those of oil, gas, and electrical energy uses in other fields. For its efficient allocation, it is necessary to investigate the current electrical energy uses in the field of agriculture. This study focuses on estimating the demand functions for agricultural uses of electrical energy. Using electricity- and oil- prices, demographic variables, and climate factors considering seasonality, we develop a pooled OLS model, a panel random effect model, and a quantile regression model with the application of Korean rice farm. Results show that estimated signs for most determinants have expected signs consistent with economic theories. Especially, results from quantile regression models demonstrate that price elasticities are monotonically decreasing as rice farms use more electrical energy, suggesting implications for policy makers concerning efficient electrical energy uses in agriculture, such as electricity price differentiation.