NDLI: Energy-Efficiency Policy and its Effects at the Intensive and at the Extensive Investment Margins with Heterogenous Households

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Energy-Efficiency Policy and its Effects at the Intensive and at the Extensive Investment Margins with Heterogenous Households

Content Provider	Scilit
Author	Voss, Achim
Copyright Year	2019
Description	Journal: SSRN Electronic Journal I analyze energy-efficiency policy as a prescription of a minimum-Efficiency standard for energy-using household goods like cars, building insulation, and home appliances. Such a policy has two effects. At the intensive margin, a household that invests will choose a more efficient device. At the extensive margin, there will be more households that choose not to invest at all. Thus, additional to and different from rebound effects, energy-efficiency policy may have unintended consequences. I analyze the equilibrium effects of a minimum-efficiency standard, taking price adjustments and household heterogeneity into account. A moderate minimum-efficiency standard increases demand for efficiency-enhancing household capital goods, and reduces energy demand. More stringent policy is shown to be less effective or even counterproductive. For the case of a fixed supply of efficiency-enhancing capital, it is shown that minimum-efficiency standards increase equilibrium energy demand. Finally, I analyze which households benefit from minimum-efficiency standards and which ones lose. A standard induces investing households to expend more for household capital and less for energy. The wedge between the induced expenditures and the private optimum is analyzed as a deadweight loss.
Related Links	https://www.econstor.eu/bitstream/10419/203495/1/VfS-2019-pid-25672.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3373517
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3373517
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2019-04-17
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Energy Efficiency Rebound Effects Household Heterogeneity Extensive Margin Gruenspecht Effect Theory of Environmental Policy
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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