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Reflections--Energy Efficiency Policy: Pipe Dream or Pipeline to the Future?

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  • Tom Tietenberg

Abstract

In recent years, the amount of both private and public money dedicated to promoting energy efficiency has increased a great deal. Is this a good investment? This "Reflections" article examines the potential for further investment opportunities, the case for government intervention, and the evidence on the effectiveness of the various forms of intervention. The evidence suggests that the challenge of breaking down the barriers is more difficult than conventional wisdom would have us believe. Internalizing externalities and assuring an adequate flow of information is helpful, but not likely to be sufficient. The significant challenges posed by these barriers suggest that policy makers must recognize an expanded set of barriers and respond with some ingenuity in applying an expanded set of available instruments. Copyright 2009, Oxford University Press.

Suggested Citation

  • Tom Tietenberg, 2009. "Reflections--Energy Efficiency Policy: Pipe Dream or Pipeline to the Future?," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 3(2), pages 304-320, Summer.
    • Handle: RePEc:oup:renvpo:v:3:y:2009:i:2:p:304-320
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    Cited by:

    1. Tilmann Rave & Ursula Triebswetter & Johann Wackerbauer, 2013. "Koordination von Innovations-, Energie- und Umweltpolitik," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 61, October.
    2. Dalia Streimikiene & Tomas Balezentis & Irena Alebaite, 2020. "Climate Change Mitigation in Households between Market Failures and Psychological Barriers," Energies, MDPI, vol. 13(11), pages 1-21, June.
    3. Todd D. Gerarden & Richard G. Newell & Robert N. Stavins, 2017. "Assessing the Energy-Efficiency Gap," Journal of Economic Literature, American Economic Association, vol. 55(4), pages 1486-1525, December.
    4. Schmidt, Stephan & Weigt, Hannes, 2013. "A Review on Energy Consumption from a Socio-Economic Perspective: Reduction through Energy Efficiency and Beyond," Working papers 2013/15, Faculty of Business and Economics - University of Basel.
    5. Stefan Lamp, 2023. "Sunspots That Matter: The Effect of Weather on Solar Technology Adoption," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 84(4), pages 1179-1219, April.
    6. Wang, Young-Doo & Lee, Jae Seung & Agbemabiese, Lawrence & Zame, Kenneth & Kang, Sung-Goo, 2015. "Virtual water management and the water–energy nexus: A case study of three Mid-Atlantic states," Resources, Conservation & Recycling, Elsevier, vol. 98(C), pages 76-84.
    7. Nie, Hongguang & Zhou, Ting & Lu, Haiyan & Huang, Shupeng, 2021. "Evaluation of the efficiency of Chinese energy-saving household appliance subsidy policy: An economic benefit perspective," Energy Policy, Elsevier, vol. 149(C).
    8. Matthew E. Kahn & Nils Kok & Peng Liu, 2016. "Is California More Energy Efficient than the Rest of the Nation? Evidence from Commercial Real Estate," NBER Working Papers 21912, National Bureau of Economic Research, Inc.
    9. Todd D. Gerarden & Richard G. Newell & Robert N. Stavins & Robert C. Stowe, 2015. "An Assessment of the Energy-Efficiency Gap and Its Implications for Climate Change Policy," Working Papers 2015.28, Fondazione Eni Enrico Mattei.
    10. Rosenow, Jan & Platt, Reg & Demurtas, Andrea, 2014. "Fiscal impacts of energy efficiency programmes—The example of solid wall insulation investment in the UK," Energy Policy, Elsevier, vol. 74(C), pages 610-620.
    11. Astrid Gamba & Anna Bottasso, 2019. "Consumer inertia in energy markets: Insights from behavioral economics," ECONOMIA PUBBLICA, FrancoAngeli Editore, vol. 2019(3), pages 113-130.
    12. Ramos, A. & Gago, A. & Labandeira, X. & Linares, P., 2015. "The role of information for energy efficiency in the residential sector," Energy Economics, Elsevier, vol. 52(S1), pages 17-29.
    13. Bruno Lanz and Evert Reins, 2021. "Asymmetric Information on the Market for Energy Efficiency: Insights from the Credence Goods Literature," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
    14. Broberg, Thomas & Kažukauskas, Andrius, 2021. "Information policies and biased cost perceptions - The case of Swedish residential energy consumption," Energy Policy, Elsevier, vol. 149(C).
    15. Kazukauskas, Andrius & Broberg, Thomas, 2016. "Perceptions and inattention in private electricity consumption," CERE Working Papers 2016:2, CERE - the Center for Environmental and Resource Economics, revised 03 Oct 2023.
    16. Zhu, Junming & Chertow, Marian R., 2017. "Business Strategy Under Institutional Constraints: Evidence From China's Energy Efficiency Regulations," Ecological Economics, Elsevier, vol. 135(C), pages 10-21.
    17. Matthew E. Kahn & Nils Kok, 2014. "Big-Box Retailers and Urban Carbon Emissions: The Case of Wal-Mart," NBER Working Papers 19912, National Bureau of Economic Research, Inc.
    18. Orset, Caroline, 2021. "Is information a good policy instrument to influence the energy behaviour of households?," Energy Economics, Elsevier, vol. 102(C).
    19. Ó Broin, Eoin & Nässén, Jonas & Johnsson, Filip, 2015. "Energy efficiency policies for space heating in EU countries: A panel data analysis for the period 1990–2010," Applied Energy, Elsevier, vol. 150(C), pages 211-223.
    20. Wolfgang Buchholz & Jonas Frank & Hans-Dieter Karl & Johannes Pfeiffer & Karen Pittel & Ursula Triebswetter & Jochen Habermann & Wolfgang Mauch & Thomas Staudacher, 2012. "Die Zukunft der Energiemärkte: Ökonomische Analyse und Bewertung von Potenzialen und Handlungsmöglichkeiten," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 57.
    21. Panu Kalmi & Gianluca Trotta & Andrius Kažukauskas, 2021. "Energy‐related financial literacy and electricity consumption: Survey‐based evidence from Finland," Journal of Consumer Affairs, Wiley Blackwell, vol. 55(3), pages 1062-1089, September.
    22. Bishwa S Koirala & Alok K Bohara, 2021. "Do energy efficiency building codes help minimize the efficiency gap in the U.S.? A dynamic panel data approach," Energy & Environment, , vol. 32(3), pages 506-518, May.
    23. Panzone, Luca A., 2013. "Saving money vs investing money: Do energy ratings influence consumer demand for energy efficient goods?," Energy Economics, Elsevier, vol. 38(C), pages 51-63.
    24. Hamamoto, Mitsutsugu, 2019. "An empirical study on the behavior of hybrid-electric vehicle purchasers," Energy Policy, Elsevier, vol. 125(C), pages 286-292.

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