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Climate Change, Buildings and Energy Prices

  • Alberto Gago

    (Rede (Universidade de Vigo) and Economics for Energy)

  • Michael Hanemann

    (Arizona State University and University of California at Berkeley)

  • Xavier Labandeira

    ()

    (Rede (Universidade de Vigo) and Economics for Energy)

  • Ana Ramos

    (Rede (Universidade de Vigo) and Economics for Energy)

Buildings are crucial to control present and future energy demand and, therefore, greenhouse gas concentrations in the atmosphere. In this chapter we suggest that, due to a number of general and specific barriers to the implementation of energy efficiency in buildings, energy prices and conventional energy and environmental policy instruments may not achieve the desired outcomes. Instead, we suggest a novel package of complementary measures that can simultaneously tackle the problems of imperfect information, split incentives among agents, uncertainty about cost and limited access to capital. The proposed policy package is defined around energy certification of buildings, uses flexible building codes, smart metering and employs a new tax on energy inefficiency to foster continuous incentives towards energy efficiency improvements and to provide revenues for an energy efficiency fund that provides capital to firms and poor households.

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File URL: http://www.eforenergy.org/docpublicaciones/documentos-de-trabajo/WPFA04-2012.pdf
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Paper provided by Economics for Energy in its series Working Papers with number fa04-2012.

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Length: 21 pages
Date of creation: Mar 2012
Date of revision:
Handle: RePEc:efe:wpaper:fa04-2012
Contact details of provider: Web page: http://www.eforenergy.org

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  1. Xavier Labandeira Villot & Pedro Linares, 2009. "Energy Efficiency: Economics and Policy," Economic Reports 06-09, FEDEA.
  2. Kwak, So-Yoon & Yoo, Seung-Hoon & Kwak, Seung-Jun, 2010. "Valuing energy-saving measures in residential buildings: A choice experiment study," Energy Policy, Elsevier, vol. 38(1), pages 673-677, January.
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  7. Xavier Labandeira & Pedro Linares, 2010. "Second-best instruments for energy and climate policy," Working Papers 06-2010, Economics for Energy.
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  9. Warwick J. McKibbin, Adele C. Morris, and Peter J. Wilcoxen, 2011. "Subsidizing Household Capital: How Does Energy Efficiency Policy Compare to a Carbon Tax?," The Energy Journal, International Association for Energy Economics, vol. 0(Special I).
  10. Palmer, Karen & Walls, Margaret & Gordon, Hal & Gerarden, Todd, 2011. "Assessing the Energy-Efficiency Information Gap: Results from a Survey of Home Energy Auditors," Discussion Papers dp-11-42, Resources For the Future.
  11. Brounen, Dirk & Kok, Nils, 2011. "On the economics of energy labels in the housing market," Journal of Environmental Economics and Management, Elsevier, vol. 62(2), pages 166-179, September.
  12. Iwaro, Joseph & Mwasha, Abraham, 2010. "A review of building energy regulation and policy for energy conservation in developing countries," Energy Policy, Elsevier, vol. 38(12), pages 7744-7755, December.
  13. Mundaca, Luis & Neij, Lena, 2009. "A multi-criteria evaluation framework for tradable white certificate schemes," Energy Policy, Elsevier, vol. 37(11), pages 4557-4573, November.
  14. Banfi, Silvia & Farsi, Mehdi & Filippini, Massimo & Jakob, Martin, 2008. "Willingness to pay for energy-saving measures in residential buildings," Energy Economics, Elsevier, vol. 30(2), pages 503-516, March.
  15. Gilmer, Robert W., 1989. "Energy labels and economic search : An example from the residential real estate market," Energy Economics, Elsevier, vol. 11(3), pages 213-218, July.
  16. Brounen, Dirk & Kok, Nils & Quigley, John M., 2012. "Residential energy use and conservation: Economics and demographics," European Economic Review, Elsevier, vol. 56(5), pages 931-945.
  17. Franz Fuerst & Patrick McAllister, 2011. "Green Noise or Green Value? Measuring the Effects of Environmental Certification on Office Values," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 39(1), pages 45-69, 03.
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