XML FeedsEnergy Efficiency Economics and Policy
By CostBenefit on Apr 6, 2009 | In General, Air, Energy, Climate Change GHG Carbon CO2, U.S., Regulatory Analysis, Research Institute NGO NonProfit, Environmental Economics / Ecological Economics, Costs and Benefits, Free Report at Time of Entry | Send feedback »
Link: http://www.rff.org/Publications/Pages/PublicationDetails.aspx?PublicationID=20774
Abstract: Energy efficiency and conservation are considered key means for reducing greenhouse gas emissions and achieving other energy policy goals, but associated market behavior and policy responses have engendered debates in the economic literature. Kenneth T. Gillingham, Richard G. Newell, Karen L. Palmer review economic concepts underlying consumer decisionmaking in energy efficiency and conservation and examine related empirical literature. In particular, the authors provide an economic perspective on the range of market barriers, market failures, and behavioral failures that have been cited in the energy efficiency context. They assess the extent to which these conditions provide a motivation for policy intervention in energy-using product markets, including an examination of the evidence on policy effectiveness and cost. While theory and empirical evidence suggest there is potential for welfare-enhancing energy efficiency policies, many open questions remain, particularly relating to the extent of some of the key market and behavioral failures.
by Kenneth T. Gillingham, Richard G. Newell, Karen L. Palmer
Resources For the Future (RFF) www.RFF.org
RFF Discussion Paper 09-13; April, 2009
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