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The Energy Costs of Historic Preservation

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  • Christian A. L. Hilber
  • Charles Palmer
  • Edward W. Pinchbeck

Abstract

We explore the impact of historical preservation policies on domestic energy consumption. Using panel data for England from 2006 to 2013 and employing a fixed effects-strategy, we document that (i) rising national energy prices induce an increase in home energy efficiency installations and a corresponding reduction in energy consumption and (ii) this energy saving effect is significantly less pronounced in Conservation Areas and in places with high concentrations of Listed Buildings, where the adoption of energy efficiency installations is typically more costly and sometimes legally prevented altogether. Preservation policies increase private energy costs and the social cost of carbon per designated dwelling by around £8,000 and £2,550, respectively. These costs ought to be weighed against any benefits of preservation.

Suggested Citation

  • Christian A. L. Hilber & Charles Palmer & Edward W. Pinchbeck, 2017. "The Energy Costs of Historic Preservation," SERC Discussion Papers 0217, Spatial Economics Research Centre, LSE.
  • Handle: RePEc:cep:sercdp:0217
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    References listed on IDEAS

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    More about this item

    Keywords

    preservation policies; land use regulation; energy efficiency; energy consumption; climate change;

    JEL classification:

    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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