Journal
ENERGY POLICY
Volume 123, Issue -, Pages 450-460Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2018.09.017
Keywords
Residential energy efficiency; Hedonic valuation; Alaska
Funding
- Alaska Center for Energy and Power at the University of Alaska Fairbanks
Ask authors/readers for more resources
Residents of Interior Alaska are faced with a cold climate and relatively high energy prices, which results in high home energy expenditures. Increasing the energy efficiency of the housing stock can help reduce household energy expenditures. Following a spike in oil prices in 2008, legislation was passed, which created the Home Energy Rebate Program. Homeowners participating in the program were eligible to receive up to a $10,000 rebate for preapproved home energy efficiency improvements. This paper examines the effect of the Home Energy Rebate program on the selling prices of single-family residences in the Fairbanks North Star Borough from 2008 through 2015 using a hedonic pricing analysis. The results show that homes that completed the Home Energy Rebate program in the Fairbanks North Star Borough sell for a 15.1-16.5% price premium over similar homes that did not complete the program, which indicates that investments in residential energy efficiency are compensated. This is the first study to examine the impact of energy efficiency on house prices in a market with a subarctic climate.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available