Closing the "Energy-Efficiency Gap": An Empirical Analysis of Property Assessed Clean Energy
Abstract
Until federal regulators halted operations, a handful of municipal PACE programs across
the US offered property-secured loans from city or county funds to homeowners for
residential clean energy investments. These loans, repaid through property tax assessments,
addressed multiple non-price “market barriers” to residential investments commonly
identified in the literature on the “energy-efficiency gap” – information barriers,
transferability of investment, and cognitive failures common to high up-front cost
investments. To elucidate the magnitude of the “energy-efficiency gap”, this analysis
uses difference-in-differences models as well as a synthetic counterfactual to estimate
the effect on residential photovoltaic installation rates of three California PACE
programs operating between 2008 and 2010. When applied statewide, results predict
an increase in installations by approximately 25 homes per year for an average-size
Californian city, or 14,170 installations per year statewide.
Type
Master's projectPermalink
https://hdl.handle.net/10161/5272Citation
Kirkpatrick, Aubrey Justin; & Kirkpatrick, Aubrey Justin (2012). Closing the "Energy-Efficiency Gap": An Empirical Analysis of Property Assessed Clean
Energy. Master's project, Duke University. Retrieved from https://hdl.handle.net/10161/5272.Collections
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