Rasmusen p1vaim: Created page with "*[https://epic-uchicago-edu.proxyiub.uits.iu.edu/wp-content/uploads/2019/07/Publication-1.pdf "Fowlie, Meredith, Michael Greenstone, Catherine Wolfram (2018). Do Energy Effici..."

2021-05-11T22:58:11Z

Created page with "*[https://epic-uchicago-edu.proxyiub.uits.iu.edu/wp-content/uploads/2019/07/Publication-1.pdf "Fowlie, Meredith, Michael Greenstone, Catherine Wolfram (2018). Do Energy Effici..."

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*[https://epic-uchicago-edu.proxyiub.uits.iu.edu/wp-content/uploads/2019/07/Publication-1.pdf "Fowlie, Meredith, Michael Greenstone, Catherine Wolfram (2018). Do Energy Efficiency Investments Deliver? Evidence from the Weatherization Assistance Program.] ''Quarterly Journal of Economics,'' 133(3): 1597–1644.

A growing number of policies and programs aim to increase investment in
energy efficiency, because conventional wisdom suggests that people fail to take
up these investments even though they have positive private returns and generate environmental benefits. Many explanations for this energy efficiency gap have
been put forward, but there has been surprisingly little field testing of whether
the conventional wisdom is correct. This article reports on the results of an experimental evaluation of the nation’s largest residential energy efficiency program—
the Weatherization Assistance Program—conducted on a sample of approximately
30,000 households in Michigan. The findings suggest that the upfront investment
costs are about twice the actual energy savings. Furthermore, the model-projected
savings are more than three times the actual savings. Although this might be
attributed to the “rebound” effect—when demand for energy end uses increases
as a result of greater efficiency—the article fails to find evidence of significantly
higher indoor temperatures at weatherized homes. Even when accounting for the
broader societal benefits derived from emissions reductions, the costs still substantially outweigh the benefits; the average rate of return is approximately −7.8%
annually.

Government Failure - Revision history

Rasmusen p1vaim: Created page with "*[https://epic-uchicago-edu.proxyiub.uits.iu.edu/wp-content/uploads/2019/07/Publication-1.pdf "Fowlie, Meredith, Michael Greenstone, Catherine Wolfram (2018). Do Energy Effici..."