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Energy Labels in the Housing Market: Matching Predictions and Realizations

Author

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  • Erdal Aydin
  • Dirk Brounen
  • Nils Kok

Abstract

Energy labels have proven to be an effective means for nudging households to make sustainable choices. The label information regarding future energy use has inspired consumers around the world to opt for more energy efficient cars to commute to work and to select more efficient appliances at home. But regarding the home itself, energy labels have been less successful, or so it seems. In order to have an effect on consumer choice, energy labels need to meet three conditions, they need to be available, understandable, and reliable. In this paper, we examine the extent to which these criteria are met using a unique, detailed microeconomic dataset that contains information regarding the home, utility bills and energy labels for 779,383 addresses in the Dutch housing market. Since 2008, energy labels are available in this market, since 2010 these energy labels are understandable to consumers, and our results show that these labels are 81% reliable when compared to subsequent energy bills.

Suggested Citation

  • Erdal Aydin & Dirk Brounen & Nils Kok, 2013. "Energy Labels in the Housing Market: Matching Predictions and Realizations," ERES eres2013_88, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2013_88
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2013-88
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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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