I was always fascinated how researchers trying to develop a super conductor, dropped the temperature of conductors to extremely low
temperature to achieve a conductor with no resistance. Heat that was a limiting factor on conductivity.
Lowering the temperature by increasing the wire size and decreasing resistance probably reduces electrical usage.
I worked for a large school district, if like the Electrical Inspector for Fort Worth, Texas speculated a single jump in wire size payed
for itself in 5 years and the average of a school is 50+ years, that would be a huge saving in electrical use, which translate into greener
schools. I was never able to catch the attention of the school district, because I had no definitive mathematic calculations to back me
up.
It probably would not be cost effective for all circuits, but probably very effective for services, branch feeders and circuits to large usage
items like like AC units.
Something to think about. It seems like if you have all the variables, a formula or formulas are possible.