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An Economic Analysis of Policies for Promoting Economically Efficient Water Heater Systems Operating Under Seasonal Climatic Conditions

Author

Listed:
  • Arif Yurtsev

    (Eastern Mediterranean University, North Cyprus)

  • Glenn P. Jenkins

    (Queen’s University, Canada and Eastern Mediterranean University, North Cyprus)

Abstract

This paper reports on an economic cost-effective analysis of water heating systems including solar water heating systems (SWHSs). This study finds that in situations where there is a winter, or a rainy season, the choice of the source of energy for the SWHS’s back-up during this period is critical for its overall cost-effectiveness. It is found that in the conditions of North Cyprus, an SWHS with electricity back-up is far superior to using electricity alone, however, it is inferior to heating water with either a liquefied petroleum gas (LPG) water heater alone or an SWHS with an LPG back-up. Policies to promote water heating systems that reduce the use of electricity should not encourage the installation of SWHSs with electricity back-up. An LPG water heater or an SWHS with an LPG back-up are economically more cost-effective, with or without the inclusion of the social cost of carbon estimates.

Suggested Citation

  • Arif Yurtsev & Glenn P. Jenkins, 2015. "An Economic Analysis of Policies for Promoting Economically Efficient Water Heater Systems Operating Under Seasonal Climatic Conditions," Development Discussion Papers 2015-07, JDI Executive Programs.
    • Handle: RePEc:qed:dpaper:279
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Cost-effectiveness analysis; water heater systems; North Cyprus.;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General

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