The Experts below are selected from a list of 882456 Experts worldwide ranked by ideXlab platform
Richard G. Newell - One of the best experts on this subject based on the ideXlab platform.
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deconstructing the Energy Efficiency gap conceptual frameworks and evidence
The American Economic Review, 2015Co-Authors: Todd D Gerarden, Richard G. Newell, Robert N StavinsAbstract:Abstract Energy-efficient technologies offer considerable promise for reducing the financial costs and environmental damages associated with Energy use, but these technologies appear not to be adopted to the degree that appears justified, even on a purely private basis. We present two complementary frameworks for understanding this so-called “Energy paradox” or “Energy Efficiency gap.” First, we build upon previous literature by dividing potential explanations for the Energy Efficiency gap into three categories: market failures, behavioral anomalies, and model and measurement errors. Second, we examine the elements of cost-minimizing Energy Efficiency decisions, the typical benchmark used in assessing the gap's magnitude.
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Assessing the Energy-Efficiency Gap
National Bureau of Economic Research Working Paper Series, 2015Co-Authors: Todd D Gerarden, Richard G. Newell, Robert N StavinsAbstract:Energy-efficient technologies offer considerable promise for reducing the financial costs and environmental damages associated with Energy use, but these technologies appear not to be adopted by consumers and businesses to the degree that would apparently be justified, even on a purely financial basis. We present two complementary frameworks for understanding this so-called “Energy paradox” or “Energy-Efficiency gap.” First, we build on the previous literature by dividing potential explanations for the Energy-Efficiency gap into three categories: market failures, behavioral anomalies, and model and measurement errors. Second, we posit that it is useful to think in terms of the fundamental elements of cost-minimizing Energy-Efficiency decisions. This provides a decomposition that organizes thinking around four questions. First, are product offerings and pricing economically efficient? Second, are Energy operating costs inefficiently priced and/or understood? Third, are product choices cost-minimizing in present value terms? Fourth, do other costs inhibit more Energy-efficient decisions? We review empirical evidence on these questions, with an emphasis on recent advances, and offer suggestions for future research.
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nudging Energy Efficiency behavior the role of information labels
Journal of the Association of Environmental and Resource Economists, 2014Co-Authors: Richard G. Newell, Juha SiikamakiAbstract:AbstractWe use choice experiments and randomized information treatments to study the effectiveness of alternative Energy Efficiency labels in guiding households’ Energy Efficiency decisions. We disentangle the relative importance of different types of information and distinguish it from intertemporal behavior. We find that insufficient information can lead to considerable undervaluation of Energy Efficiency. Simple information on the monetary value of Energy savings was the most important element guiding cost-efficient Energy Efficiency investments, with information on physical Energy use and carbon dioxide emissions having additional but lesser importance. The degree to which the current US EnergyGuide label guided cost-efficient decisions depends on the discount rate. Using elicited individual discount rates, the current EnergyGuide label came very close to guiding cost-efficient decisions. Using a uniform 5% discount rate, the current label led to one-third undervaluation of Energy Efficiency. Our resu...
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nudging Energy Efficiency behavior the role of information labels
Journal of the Association of Environmental and Resource Economists, 2014Co-Authors: Richard G. Newell, Juha SiikamakiAbstract:We use choice experiments and randomized information treatments to study the effectiveness of alternative Energy Efficiency labels in guiding households' Energy Efficiency decisions. We disentangle the relative importance of different types of information and distinguish it from intertemporal behavior. We find that insufficient information can lead to considerable undervaluation of Energy Efficiency. Simple information on the monetary value of Energy savings was the most important element guiding cost-efficient Energy Efficiency investments, with information on physical Energy use and carbon dioxide emissions having additional but lesser importance. The degree to which the current US EnergyGuide label guided cost-efficient decisions depends on the discount rate. Using elicited individual discount rates, the current EnergyGuide label came very close to guiding cost-efficient decisions. Using a uniform 5% discount rate, the current label led to one-third undervaluation of Energy Efficiency. Our results reinforce the centrality of discounting in understanding individual behavior and guiding policy.
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nudging Energy Efficiency behavior the role of information labels
National Bureau of Economic Research, 2013Co-Authors: Richard G. Newell, Juha SiikamakiAbstract:We evaluate the effectiveness of Energy Efficiency labeling in guiding household decisions. Using a carefully designed choice experiment with alternative labels, we disentangle the relative importance of different types of information and intertemporal behavior (i.e., discounting) in guiding Energy Efficiency behavior. We find that simple information on the economic value of saving Energy was the most important element guiding more cost-efficient investments in Energy Efficiency, with information on physical Energy use and carbon emissions having additional but lesser importance. The degree to which the current EnergyGuide label guided cost-efficient decisions depends importantly on the discount rate assumed. Using individual discount rates separately elicited in our study, we find that the current EnergyGuide label came very close to guiding cost-efficient decisions, on average. However, using a uniform five percent discount rate--which was much lower than the average elicited rate--the EnergyGuide label led to choices that result in a one-third undervaluation of Energy Efficiency. We find that labels that also endorsed a model (with Energy Star) or gave a suggestive grade to a model (EU-style label), encouraged substantially higher Energy Efficiency. Our results reinforce the centrality of views on intertemporal choice and discounting, both in terms of understanding individual behavior and in guiding policy.
D Q Zhou - One of the best experts on this subject based on the ideXlab platform.
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industrial Energy Efficiency with co2 emissions in china a nonparametric analysis
Energy Policy, 2012Co-Authors: F Wu, L W Fan, Pei Zhou, D Q ZhouAbstract:Global awareness on Energy security and climate change has created much interest in assessing economy-wide Energy Efficiency performance. A number of previous studies have contributed to evaluate Energy Efficiency performance using different analytical techniques among which data envelopment analysis (DEA) has recently received increasing attention. Most of DEA-related Energy Efficiency studies do not consider undesirable outputs such as CO2 emissions in their modeling framework, which may lead to biased Energy Efficiency values. Within a joint production framework of desirable and undesirable outputs, in this paper we construct both static and dynamic Energy Efficiency performance indexes for measuring industrial Energy Efficiency performance by using several environmental DEA models with CO2 emissions. The dynamic Energy Efficiency performance indexes have further been decomposed into two contributing components. We finally apply the indexes proposed to assess the industrial Energy Efficiency performance of different provinces in China over time. Our empirical study shows that the Energy Efficiency improvement in China's industrial sector was mainly driven by technological improvement.
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measuring economy wide Energy Efficiency performance a parametric frontier approach
Applied Energy, 2012Co-Authors: Peng Zhou, B W Ang, D Q ZhouAbstract:This paper proposes a parametric frontier approach to estimating economy-wide Energy Efficiency performance from a production Efficiency point of view. It uses the Shephard Energy distance function to define an Energy Efficiency index and adopts the stochastic frontier analysis technique to estimate the index. A case study of measuring the economy-wide Energy Efficiency performance of a sample of OECD countries using the proposed approach is presented. It is found that the proposed parametric frontier approach has higher discriminating power in Energy Efficiency performance measurement compared to its nonparametric frontier counterparts.
B W Ang - One of the best experts on this subject based on the ideXlab platform.
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measuring economy wide Energy Efficiency performance a parametric frontier approach
Applied Energy, 2012Co-Authors: Peng Zhou, B W Ang, D Q ZhouAbstract:This paper proposes a parametric frontier approach to estimating economy-wide Energy Efficiency performance from a production Efficiency point of view. It uses the Shephard Energy distance function to define an Energy Efficiency index and adopts the stochastic frontier analysis technique to estimate the index. A case study of measuring the economy-wide Energy Efficiency performance of a sample of OECD countries using the proposed approach is presented. It is found that the proposed parametric frontier approach has higher discriminating power in Energy Efficiency performance measurement compared to its nonparametric frontier counterparts.
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linear programming models for measuring economy wide Energy Efficiency performance
Energy Policy, 2008Co-Authors: Peng Zhou, B W AngAbstract:Data envelopment analysis (DEA) has recently gained popularity in Energy Efficiency analysis. A common feature of the previously proposed DEA models for measuring Energy Efficiency performance is that they treat Energy consumption as an input within a production framework without considering undesirable outputs. However, Energy use results in the generation of undesirable outputs as by-products of producing desirable outputs. Within a joint production framework of both desirable and undesirable outputs, this paper presents several DEA-type linear programming models for measuring economy-wide Energy Efficiency performance. In addition to considering undesirable outputs, our models treat different Energy sources as different inputs so that changes in Energy mix could be accounted for in evaluating Energy Efficiency. The proposed models are applied to measure the Energy Efficiency performances of 21 OECD countries and the results obtained are presented.
Robert N Stavins - One of the best experts on this subject based on the ideXlab platform.
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Assessing the Energy-Efficiency Gap
National Bureau of Economic Research Working Paper Series, 2015Co-Authors: Todd D Gerarden, Richard G. Newell, Robert N StavinsAbstract:Energy-efficient technologies offer considerable promise for reducing the financial costs and environmental damages associated with Energy use, but these technologies appear not to be adopted by consumers and businesses to the degree that would apparently be justified, even on a purely financial basis. We present two complementary frameworks for understanding this so-called “Energy paradox” or “Energy-Efficiency gap.” First, we build on the previous literature by dividing potential explanations for the Energy-Efficiency gap into three categories: market failures, behavioral anomalies, and model and measurement errors. Second, we posit that it is useful to think in terms of the fundamental elements of cost-minimizing Energy-Efficiency decisions. This provides a decomposition that organizes thinking around four questions. First, are product offerings and pricing economically efficient? Second, are Energy operating costs inefficiently priced and/or understood? Third, are product choices cost-minimizing in present value terms? Fourth, do other costs inhibit more Energy-efficient decisions? We review empirical evidence on these questions, with an emphasis on recent advances, and offer suggestions for future research.
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deconstructing the Energy Efficiency gap conceptual frameworks and evidence
The American Economic Review, 2015Co-Authors: Todd D Gerarden, Richard G. Newell, Robert N StavinsAbstract:Abstract Energy-efficient technologies offer considerable promise for reducing the financial costs and environmental damages associated with Energy use, but these technologies appear not to be adopted to the degree that appears justified, even on a purely private basis. We present two complementary frameworks for understanding this so-called “Energy paradox” or “Energy Efficiency gap.” First, we build upon previous literature by dividing potential explanations for the Energy Efficiency gap into three categories: market failures, behavioral anomalies, and model and measurement errors. Second, we examine the elements of cost-minimizing Energy Efficiency decisions, the typical benchmark used in assessing the gap's magnitude.
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the Energy Efficiency gap what does it mean
Energy Policy, 1994Co-Authors: Adam B Jaffe, Robert N StavinsAbstract:Abstract As renewed attention has been given by policy makers to Energy conservation issues, it has frequently been asserted that an Energy-Efficiency gap exists between actual and optimal Energy use. The critical questions is how to define the optimal level of Energy Efficiency. This paper seeks to disentangle some confusing strands of argument that are frequently brought to bear on this question, by identifying the major conceptual issues that determine the set of feasible answers. We identify five separate and distinct notions of optimality: the economists' economic potential, the technologists' economic potential, hypothetical potential, the narrow social optimum and the true social optimum. Each of these has associated with it a corresponding definition of the Energy-Efficiency gap. Our analysis demonstrates that necessary preconditions for identifying the right measure of the Energy-Efficiency gap include understanding and disentangling market failure and non-market failure explanations for the gradual diffusion of Energy-efficient technologies.
Peng Zhou - One of the best experts on this subject based on the ideXlab platform.
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measuring economy wide Energy Efficiency performance a parametric frontier approach
Applied Energy, 2012Co-Authors: Peng Zhou, B W Ang, D Q ZhouAbstract:This paper proposes a parametric frontier approach to estimating economy-wide Energy Efficiency performance from a production Efficiency point of view. It uses the Shephard Energy distance function to define an Energy Efficiency index and adopts the stochastic frontier analysis technique to estimate the index. A case study of measuring the economy-wide Energy Efficiency performance of a sample of OECD countries using the proposed approach is presented. It is found that the proposed parametric frontier approach has higher discriminating power in Energy Efficiency performance measurement compared to its nonparametric frontier counterparts.
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linear programming models for measuring economy wide Energy Efficiency performance
Energy Policy, 2008Co-Authors: Peng Zhou, B W AngAbstract:Data envelopment analysis (DEA) has recently gained popularity in Energy Efficiency analysis. A common feature of the previously proposed DEA models for measuring Energy Efficiency performance is that they treat Energy consumption as an input within a production framework without considering undesirable outputs. However, Energy use results in the generation of undesirable outputs as by-products of producing desirable outputs. Within a joint production framework of both desirable and undesirable outputs, this paper presents several DEA-type linear programming models for measuring economy-wide Energy Efficiency performance. In addition to considering undesirable outputs, our models treat different Energy sources as different inputs so that changes in Energy mix could be accounted for in evaluating Energy Efficiency. The proposed models are applied to measure the Energy Efficiency performances of 21 OECD countries and the results obtained are presented.
