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Greener Homes: An Ex-Post Estimate of the Cost of Carbon Dioxide Emission Reduction using Administrative Micro-Data from the Republic of Ireland

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  • Leahy, Eimear
  • Tol, Richard S. J.

Abstract

We assess the subsidy for the installation of biomass boilers and wood gasification boilers under the Greener Homes Scheme in Ireland. We find that the (implicit) subsidy per tonne of carbon dioxide avoided varies hugely across households. The current policy costs 17% too much for the emissions avoided, or avoids 17% too few emissions for the money spent. The subsidy reduces welfare (including environmental benefits) by 42%.

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Bibliographic Info

Paper provided by Economic and Social Research Institute (ESRI) in its series Papers with number WP388.

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Date of creation: 2011
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Handle: RePEc:esr:wpaper:wp388

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Keywords: cost/Ireland/Policy/Republic of Ireland;

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References

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  1. Metcalf, Gilbert E., 2009. "Tax Policies for Low-Carbon Technologies," National Tax Journal, National Tax Association, vol. 62(3), pages 519-33, September.
  2. Clinch, J. Peter & Healy, John D., 2001. "Cost-benefit analysis of domestic energy efficiency," Energy Policy, Elsevier, vol. 29(2), pages 113-124, January.
  3. Leahy, Eimear & Lyons, Seán, 2009. "Energy Use and Appliance Ownership in Ireland," Papers WP277, Economic and Social Research Institute (ESRI).
  4. Mills, Bradford F. & Schleich, Joachim, 2009. "Profits or preferences? Assessing the adoption of residential solar thermal technologies," Energy Policy, Elsevier, vol. 37(10), pages 4145-4154, October.
  5. Baumol, William J, 1972. "On Taxation and the Control of Externalities," American Economic Review, American Economic Association, vol. 62(3), pages 307-22, June.
  6. FitzGerald, John & Bergin, Adele & Conefrey, Thomas & Diffney, Sean & Duffy, David & Kearney, Ide & Lyons, Sean & Malaguzzi Valeri, Laura & Mayor, Karen & Richard S. J. Tol, 2008. "Medium-Term Review 2008-2015, No. 11," Forecasting Report, Economic and Social Research Institute (ESRI), number MTR11, March.
  7. Mustafa H. Babiker & Gilbert E. Metcalf & John Reilly, 2002. "Tax Distortions and Global Climate Policy," NBER Working Papers 9136, National Bureau of Economic Research, Inc.
  8. Scott, S., 1997. "Household energy efficiency in Ireland: A replication study of ownership of energy saving items," Energy Economics, Elsevier, vol. 19(2), pages 187-208, May.
  9. O'Doherty, Joe & Lyons, Sean & Tol, Richard S.J., 2008. "Energy-using appliances and energy-saving features: Determinants of ownership in Ireland," Applied Energy, Elsevier, vol. 85(7), pages 650-662, July.
  10. Jenkins, D.P., 2010. "The value of retrofitting carbon-saving measures into fuel poor social housing," Energy Policy, Elsevier, vol. 38(2), pages 832-839, February.
  11. Richard S. J. Tol, 2009. "The Economic Effects of Climate Change," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 29-51, Spring.
  12. Amstalden, Roger W. & Kost, Michael & Nathani, Carsten & Imboden, Dieter M., 2007. "Economic potential of energy-efficient retrofitting in the Swiss residential building sector: The effects of policy instruments and energy price expectations," Energy Policy, Elsevier, vol. 35(3), pages 1819-1829, March.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. CBA of the Home Energy Saving scheme
    by Richard Tol in The Irish Economy on 2011-09-24 20:34:43
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Cited by:
  1. Tol, Richard S.J., 2013. "Targets for global climate policy: An overview," Journal of Economic Dynamics and Control, Elsevier, vol. 37(5), pages 911-928.

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