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The social return on investment in the energy efficiency of buildings in Germany

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Author Info

  • Kuckshinrichs, Wilhelm
  • Kronenberg, Tobias
  • Hansen, Patrick

Abstract

The German government has developed a variety of policy instruments intended to reduce national CO2 emissions. These instruments include a programme administered by KfW bank, which aims at improving the energy efficiency of buildings. It provides attractive credit conditions or subsidies to finance refurbishment measures which improve the energy efficiency of buildings significantly. The refurbishment programme leads to a reduction in energy use, which benefits private investors by reducing their energy bills. In order to estimate whether the programme benefits society as a whole, additional effects must be taken into account, such as the amount of employment generated and the impact on the public budget. The aim of this paper is to evaluate the social benefits of the German CO2 refurbishment programme for the years 2005-2007. An extended input-output model is used to estimate the effect of the refurbishment works on public revenue via taxes and social security contributions. The value of avoided CO2 emissions is approximated using a range of marginal damage estimates from the literature. From these social benefits, the programme cost is deducted. The net social benefit thus computed turns out to be positive. This finding suggests that the refurbishment programme is a reasonable investment of public funds.

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Bibliographic Info

Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 38 (2010)
Issue (Month): 8 (August)
Pages: 4317-4329

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Handle: RePEc:eee:enepol:v:38:y:2010:i:8:p:4317-4329

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Web page: http://www.elsevier.com/locate/enpol

Related research

Keywords: CO2 emissions Energy efficiency Technology diffusion;

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References

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  1. Erdmenger, Christoph & Lehmann, Harry & Müschen, Klaus & Tambke, Jens & Mayr, Sebastian & Kuhnhenn, Kai, 2009. "A climate protection strategy for Germany--40% reduction of CO2 emissions by 2020 compared to 1990," Energy Policy, Elsevier, vol. 37(1), pages 158-165, January.
  2. Ravetz, Joe, 2008. "State of the stock--What do we know about existing buildings and their future prospects?," Energy Policy, Elsevier, vol. 36(12), pages 4462-4470, December.
  3. Pedregal, D.J. & Dejuán, O. & Gómez, N. & Tobarra, M.A., 2009. "Modelling demand for crude oil products in Spain," Energy Policy, Elsevier, vol. 37(11), pages 4417-4427, November.
  4. Siller, Thomas & Kost, Michael & Imboden, Dieter, 2007. "Long-term energy savings and greenhouse gas emission reductions in the Swiss residential sector," Energy Policy, Elsevier, vol. 35(1), pages 529-539, January.
  5. Power, Anne, 2008. "Does demolition or refurbishment of old and inefficient homes help to increase our environmental, social and economic viability?," Energy Policy, Elsevier, vol. 36(12), pages 4487-4501, December.
  6. Johansson-Stenman, Olof, 2004. "Global environmental problems, efficiency and limited altruism," Working Papers in Economics 139, University of Gothenburg, Department of Economics.
  7. Ben Kriechel & Thomas Ziesemer, 2009. "The environmental Porter hypothesis: theory, evidence, and a model of timing of adoption," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 18(3), pages 267-294.
  8. Claudia Kemfert, 2007. "Klimawandel kostet die deutsche Volkswirtschaft Milliarden," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 74(11), pages 165-169.
  9. Tobias Kronenberg, 2008. "Should We Worry About The Failure Of The Hotelling Rule?," Journal of Economic Surveys, Wiley Blackwell, vol. 22(4), pages 774-793, 09.
  10. Roberts, Simon, 2008. "Altering existing buildings in the UK," Energy Policy, Elsevier, vol. 36(12), pages 4482-4486, December.
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Citations

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Cited by:
  1. Kronenberg, Tobias & Kuckshinrichs, Wilhelm & Hansen, Patrick, 2012. "Macroeconomic Effects of the German Government’s Building Rehabilitation Program," MPRA Paper 38815, University Library of Munich, Germany.
  2. Kronenberg, Tobias & Többen, Johannes, 2011. "Regional input-output modelling in Germany: The case of North Rhine-Westphalia," MPRA Paper 35494, University Library of Munich, Germany.
  3. Rosenow, Jan & Platt, Reg & Flanagan, Brooke, 2013. "Fuel poverty and energy efficiency obligations – A critical assessment of the supplier obligation in the UK," Energy Policy, Elsevier, vol. 62(C), pages 1194-1203.
  4. Markaki, M. & Belegri-Roboli, A. & Michaelides, P. & Mirasgedis, S. & Lalas, D.P., 2013. "The impact of clean energy investments on the Greek economy: An input–output analysis (2010–2020)," Energy Policy, Elsevier, vol. 57(C), pages 263-275.

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