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Impact of consumers' personal characteristics on hedonic prices of energy-conserving durables

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  • Longstreth, Molly

Abstract

Since the oil crisis of 1973, American consumers have made progress conserving energy, but the average home remains far short of its potential thermal efficiency. An incentive for investing in energy-conserving home improvements is the potential increment they make to the home sale price. Our purpose was to determine whether the addition that energy-conserving improvements made to home sale prices (hedonic price) varied with the demographic characteristics of the buyers. Nonpooled regression analysis was used to estimate the hedonic prices of the housing attributes for each group of consumers. The focus was on wall and ceiling insulation, as well as wood or vinyl window frames. The hedonic prices of these features tended to vary with consumers' ages, levels of education and per capita incomes, but not with household size.

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  • Longstreth, Molly, 1986. "Impact of consumers' personal characteristics on hedonic prices of energy-conserving durables," Energy, Elsevier, vol. 11(9), pages 893-905.
    • Handle: RePEc:eee:energy:v:11:y:1986:i:9:p:893-905
    DOI: 10.1016/0360-5442(86)90009-5
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    Cited by:

    1. de Ayala, Amaia & Galarraga, Ibon & Spadaro, Joseph V., 2016. "The price of energy efficiency in the Spanish housing market," Energy Policy, Elsevier, vol. 94(C), pages 16-24.
    2. Wee, Sherilyn, 2016. "The effect of residential solar photovoltaic systems on home value: A case study of Hawai‘i," Renewable Energy, Elsevier, vol. 91(C), pages 282-292.
    3. Nevin, Rick, 2010. "Energy-efficient housing stimulus that pays for itself," Energy Policy, Elsevier, vol. 38(1), pages 4-11, January.
    4. Nevin, Rick & Watson, Gregory, 1998. "Evidence of rational market valuations for home energy efficiency," MPRA Paper 35343, University Library of Munich, Germany.

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