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- W2134332387 abstract "The eectiveness of investment subsidies depends on the existing array of regulatory and infor- mation mandates, especially in the energy eciency space. Some consumers respond to information disclosure by purchasing energy-ecient durables (and thus may increase the inframarginal take-up of a subsequent subsidy), while other consumers may locate at the lower bound of a minimum e- ciency standard (and a given subsidy may be insucient to change their investment toward a more energy-ecient option). We investigate the incremental impact of energy eciency rebates in the context of regulatory and information mandates by evaluating the State Energy Ecient Appliance Rebate Program (SEEARP) implemented through the 2009 American Recovery and Reinvestment Act. The design of the program - Federal funds allocated to states on a per capita basis with significant discretion in state program design and implementation - facilitates our empirical analy- sis. Using transaction-level data on appliance sales, we show that most program participants were inframarginal due to important short-term intertemporal substitutions where consumers delayed their purchases by a few weeks. We find evidence that some consumers accelerated the replacement of their old appliances by a few years, but overall the impact of the program on long-term energy demand is likely to be very small. Our estimated measures of cost-eectiveness are an order of magnitude higher than estimated for other energy eciency" @default.
- W2134332387 created "2016-06-24" @default.
- W2134332387 creator A5003165323 @default.
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- W2134332387 date "2014-10-01" @default.
- W2134332387 modified "2023-09-23" @default.
- W2134332387 title "Belt and Suspenders and More: The Incremental Impact of Energy Efficiency Subsidies in the Presence of Existing Policy Instruments" @default.
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- W2134332387 doi "https://doi.org/10.3386/w20541" @default.
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