Title: Assessing the socioeconomic effects caused by overvoltages to residential blocks: the case of Greece

Authors: Dimitrios Askounis; Haris Doukas; Dimitrios Angelopoulos; Vangelis Marinakis

Addresses: School of Electrical and Computer Engineering, Decision Support Systems Lab (EPU-NTUA), National Technical University of Athens, 9, Iroon Polytechniou str., 15773, Athens, Greece ' School of Electrical and Computer Engineering, Decision Support Systems Lab (EPU-NTUA), National Technical University of Athens, 9, Iroon Polytechniou str., 15773, Athens, Greece ' School of Electrical and Computer Engineering, Decision Support Systems Lab (EPU-NTUA), National Technical University of Athens, 9, Iroon Polytechniou str., 15773, Athens, Greece ' School of Electrical and Computer Engineering, Decision Support Systems Lab (EPU-NTUA), National Technical University of Athens, 9, Iroon Polytechniou str., 15773, Athens, Greece

Abstract: One of the most important problems in the operation of electronic equipment in the residential blocks is the overvoltages. Direct damages of overvoltages lead to a loss of value (technical cost), whereas indirect damages result in the loss of opportunity (social cost). The assessment of these costs is of particular importance especially to countries, which are hampered by the current financial and economic crisis. In this context, the aim of the paper is the investigation of the socioeconomic effects caused by equipment-damaging overvoltages and the assessment of the total avoided cost, namely the technical and social cost, to existing residential blocks in Greece. Based on the results, these costs are significant and measures to reduce or avoid them are important for improving citizens' well-being, especially under the current economic and financial crisis which hampers their income.

Keywords: social costs; technical costs; overvoltages; assessment models; electronic equipment; residential blocks; financial crisis; Greece; socioeconomic effects.

DOI: 10.1504/IJGE.2013.058554

International Journal of Green Economics, 2013 Vol.7 No.4, pp.320 - 332

Published online: 13 Sep 2014 *

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