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http://hdl.handle.net/2445/125238
Title: | Energy performance certificates and investments in building energy efficiency: a theoretical analysis |
Author: | Fleckinger, Pierre Glachant, Matthieu Tamokoué Kamga, Paul-Hervé |
Keywords: | Distribució d'energia elèctrica Eficiència industrial Etiquetatge Electric power distribution Industrial efficiency Labeling |
Issue Date: | 2018 |
Publisher: | Institut d’Economia de Barcelona |
Series/Report no: | [WP E-IEB18/11] |
Abstract: | In the European Union, Energy Performance Certificates (EPCs) provide potential buyers or tenants with information on a property's energy performance. By mitigating informational asymmetries on real estate markets, the conventional wisdom is that they will reduce energy use, increase energy-efficiency investments, and improve social welfare. We develop a dynamic model that partly contradicts these predictions. Although EPCs always improve social welfare, their impact on energy use and investments is ambiguous. This implies that, in a second-best world where energy externalities are under-priced and/or homeowners have behavioral biases hindering investments (myopia), EPCs can damage social welfare. This calls for using mandatory energy labeling in contexts where additional instruments efficiently mitigate the other imperfections. |
Note: | Reproducció del document publicat a: http://ieb.ub.edu/wp-content/uploads/2018/09/2018-IEB-WorkingPaper-11.pdf |
It is part of: | IEB Working Paper 2018/11 |
URI: | http://hdl.handle.net/2445/125238 |
Appears in Collections: | IEB (Institut d’Economia de Barcelona) – Working Papers |
Files in This Item:
File | Description | Size | Format | |
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IEB18-11_Fleckinger.pdf | 1.71 MB | Adobe PDF | View/Open |
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