Cost-effectiveness of electricity energy efficiency programs
By: Toshi H. Arimura ... [et al.].
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 17556; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17556.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "We analyze the cost-effectiveness of electric utility ratepayer-funded programs to promote demand-side management (DSM) and energy efficiency (EE) investments.  We specify a model that relates electricity demand to previous EE DSM spending, energy prices, income, weather, and other demand factors.  In contrast to previous studies, we allow EE DSM spending to have a potential long-term demand effect and explicitly address possible endogeneity in spending.  We find that current period EE DSM expenditures reduce electricity demand and that this effect persists for a number of years.  Our findings suggest that ratepayer funded DSM expenditures between 1992 and 2006 produced a central estimate of 0.9 percent savings in electricity consumption over that time period and a 1.8 percent savings over all years.  These energy savings came at an expected average cost to utilities of roughly 5 cents per kWh saved when future savings are discounted at a 5 percent rate"--National Bureau of Economic Research web site.
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