To clarify the correlation between the hourly air conditioning load characteristics, peak-valley electricity price and the economic specific frictional resistance of the air conditioning water system, and to quantify the influence degree of influencing factors on the economic specific frictional resistance, a mathematical model of the economic specific frictional resistance was established based on the hourly air conditioning load characteristics and peak-valley electricity price, and the Treed Gaussian process(TGP) sensitivity analysis method was used for the global sensitivity analysis. The results show that the economic specific frictional resistance (ER) has the highest distribution probability in the range of 0.10-0.20kPa/m. The ER is nonlinearly and negatively correlated with the unit price of electricity charge(UC), the proportion of local resistance to along-the-way resistance (PR), and the operating year (OY), and nonlinearly and positively correlated with the wall thickness of the pipe (PT), the price per kilogram of pipe (PP), and the discount rate (DR). The ranking of single-factor influence is UC, PR, PT (with significant and comparable influence) > PP, DR, OY, EP (with relatively minor influence). After considering the interaction effect, the degree of influence increases but the ranking remains unchanged. This research can provide theoretical references and technical support for energy conservation and carbon reduction in air conditioning systems.