Michael Greenstone

We document very low take‐up of an energy efficiency program that is widely believed to be privately beneficial. Program participants receive a substantial home “weatherization” retrofit; all installation and equipment costs are covered by the program. Less than one percent of presumptively eligible households take up the program in the control group. This rate increased only modestly after we took extraordinary efforts to inform households ‐ via multiple channels ‐ about the sizable benefits and zero monetary costs. These findings are consistent with high non‐monetary costs associated with program participation and/or energy efficiency investments.

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Areas of Focus: Energy Markets
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Energy Markets
Well-functioning markets are essential for providing access to reliable, affordable energy. EPIC research is uncovering the policies, prices and information needed to help energy markets work efficiently.
Electric Power
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Electric Power
As the electric power system faces new pressures and opportunities, EPIC research is working to identify the mix of policies needed to accelerate the global transition to clean, reliable, affordable...
Energy Efficiency
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Energy Efficiency
Improving energy efficiency is lauded as a promising way to reduce emissions and lower energy costs. Yet, a robust body of research demonstrates that not all efficiency investments deliver. EPIC...
Energy Efficiency
Definition
Energy Efficiency
Improving energy efficiency is lauded as a promising way to reduce emissions and lower energy costs. Yet, a robust body of research demonstrates that not all efficiency investments deliver. EPIC...