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Price Effects of Energy-Efficient Technologies: A Study of Residential Demand for Heating and Cooling

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  • Jeffrey A. Dubin
  • Allen K. Miedema
  • Ram V. Chandran
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    Abstract

    Energy-efficient appliances reduce the marginal price of the services they deliver. This article shows empirically that such price reductions result in energy savings that are smaller than those engineering techniques generally project. Using econometric techniques with data from a unique utility experiment and a detailed engineering-thermal load model, we find that actual conservation is as much as 13% below engineering estimates for cooling and 8-12% below for heating. Customers who conserve electricity are also persistent; their houses are comparatively warmer in Summer and cooler in Winter.

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    Bibliographic Info

    Article provided by The RAND Corporation in its journal RAND Journal of Economics.

    Volume (Year): 17 (1986)
    Issue (Month): 3 (Autumn)
    Pages: 310-325

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    Handle: RePEc:rje:randje:v:17:y:1986:i:autumn:p:310-325

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    Cited by:
    1. Thomas, Brinda A. & Azevedo, InĂªs L., 2014. "Should policy-makers allocate funding to vehicle electrification or end-use energy efficiency as a strategy for climate change mitigation and energy reductions? Rethinking electric utilities efficienc," Energy Policy, Elsevier, Elsevier, vol. 67(C), pages 28-36.
    2. Lucas W. Davis & Lutz Kilian, 2011. "The Allocative Cost of Price Ceilings in the U.S. Residential Market for Natural Gas," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 119(2), pages 212 - 241.
    3. Binswanger, Mathias, 2001. "Technological progress and sustainable development: what about the rebound effect?," Ecological Economics, Elsevier, Elsevier, vol. 36(1), pages 119-132, January.
    4. Gillingham, Kenneth & Palmer, Karen, 2013. "Bridging the Energy Efficiency Gap: Policy Insights from Economic Theory and Empirical Evidence," Discussion Papers, Resources For the Future dp-13-02-rev, Resources For the Future.
    5. Davis, Lucas W & Kilian, Lutz, 2007. "The Allocative Cost of Price Ceilings: Lessons to be Learned from the US Residential Market for Natural Gas," CEPR Discussion Papers, C.E.P.R. Discussion Papers 6142, C.E.P.R. Discussion Papers.
    6. Hunt Allcott & Michael Greenstone, 2012. "Is There an Energy Efficiency Gap?," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 26(1), pages 3-28, Winter.
    7. Yu, Biying & Zhang, Junyi & Fujiwara, Akimasa, 2013. "Evaluating the direct and indirect rebound effects in household energy consumption behavior: A case study of Beijing," Energy Policy, Elsevier, Elsevier, vol. 57(C), pages 441-453.
    8. Bishwa Koirala & Alok Bohara & Hui Li, 2013. "Effects of energy-efficiency building codes in the energy savings and emissions of carbon dioxide," Environmental Economics and Policy Studies, Society for Environmental Economics and Policy Studies - SEEPS, Society for Environmental Economics and Policy Studies - SEEPS, vol. 15(3), pages 271-290, July.
    9. Gunnar Eskeland & Torben Mideksa, 2010. "Electricity demand in a changing climate," Mitigation and Adaptation Strategies for Global Change, Springer, Springer, vol. 15(8), pages 877-897, December.
    10. Lucas W. Davis & Alan Fuchs & Paul J. Gertler, 2012. "Cash for Coolers," NBER Working Papers 18044, National Bureau of Economic Research, Inc.
    11. Patrizio Lecca & Peter McGregor & J. Kim Swales & Karen Turner, 2013. "The added value from a general equilibrium analyses of increased efficiency in household energy use," Working Papers, University of Strathclyde Business School, Department of Economics 1308, University of Strathclyde Business School, Department of Economics.
    12. Oikonomou, V. & Becchis, F. & Steg, L. & Russolillo, D., 2009. "Energy saving and energy efficiency concepts for policy making," Energy Policy, Elsevier, Elsevier, vol. 37(11), pages 4787-4796, November.
    13. Suter, Jordan F. & Shammin, Md Rumi, 2013. "Returns to residential energy efficiency and conservation measures: A field experiment," Energy Policy, Elsevier, Elsevier, vol. 59(C), pages 551-561.
    14. Lang, Corey & Siler, Matthew, 2013. "Engineering estimates versus impact evaluation of energy efficiency projects: Regression discontinuity evidence from a case study," Energy Policy, Elsevier, Elsevier, vol. 61(C), pages 360-370.

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