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| Author: | Brounen, D. Kok, N. |
| Title: | On the economics of energy labels in the housing market |
| Journal: | Journal of Environmental Economics and Management
2011 : SEP, VOL. 62:2, p. 166-179 |
| Index terms: | energy efficiency housing environmental protection European Union |
| Language: | eng |
| Abstract: | Energy efficiency in the residential housing market could have a big significance in the reduction of global carbon emissions. This article reports the first evidence on the market adoption and economic implications of energy performance certificates executed by the European Union. The results suggest adoption rates being are low and declining over time, coinciding with a negative sentiment considering the label in the popular media. Labels are gathered among smaller, post-war homes in more difficult-to-sell neighborhoods. Geographic variation in the adoption of energy labels is also documented to be positively related to the share of green voters during the 2006 national elections. Within the sample of labeled homes, the energy label improves transparency in the energy efficiency of dwellings. The analysis demonstrates that consumers capitalize this information into the price of their prospective homes. |
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