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Effects of energy performance certificates on investment: A quasi-natural experiment approach
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics. Umeå University, Faculty of Social Sciences, Centre for Environmental and Resource Economics (CERE).
Umeå University, Faculty of Social Sciences, Centre for Environmental and Resource Economics (CERE). Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.ORCID iD: 0000-0002-6067-3296
Umeå University, Faculty of Social Sciences, Centre for Environmental and Resource Economics (CERE). Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics. Vilnius University.
2019 (English)In: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181Article in journal (Refereed) In press
Abstract [en]

Incomplete information may be one reason why some households do not invest in energy efficiency even though it would benefit them to do so. Energy performance certificates (EPCs) have been promoted to overcome such information shortages. In this paper, we investigate whether EPCs together with mandatory home energy audits make households more likely to invest in energy efficiency. Our study takes advantage of the mandatory nature of the EPCs to avoid the potential selection bias problem that typically applies to studies using voluntary energy audits as the treatment. Our treatment group consists of single-household houses in Sweden sold from 2008, i.e., when EPCs became legally required in connection with sales of residential buildings, to 2015; while the control group consists of houses sold between 2002 and 2008, i.e., without an EPC. The results show that there is no statistically significant treatment effect for most of the measures that a household can take to improve the energy performance of their house. The significant treatment effect that we do find concerns a few heating system-related measures.

Place, publisher, year, edition, pages
Elsevier, 2019.
Keywords [en]
energy performance certificate, energy audits, quasi-natural experiment, incomplete information, investment decision, energy efficiency gap, policy evaluation
National Category
Economics Energy Systems
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-162070DOI: 10.1016/j.eneco.2019.104480OAI: oai:DiVA.org:umu-162070DiVA, id: diva2:1349231
Available from: 2019-09-07 Created: 2019-09-07 Last updated: 2019-10-10

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Broberg, ThomasEgüez, AlejandroKazukauskas, Andrius

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