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Energy Demand Policies

Paper Session

Saturday, Jan. 4, 2025 8:00 AM - 10:00 AM (PST)

Hilton San Francisco Union Square, Union Square 1 and 2
Hosted By: International Association for Energy Economics & American Economic Association
  • Chair: Shaun McRae, Mexico Autonomous Institute of Technology

Inframarginal Investments with Clean Energy Subsidies: Evidence from the Inflation Reduction Act

John Bistline
,
EPRI
Asa Watten
,
EPRI

Abstract

Subsidies are popular tools to promote socially beneficial behavior, including in the energy sector for addressing climate change and innovation externalities. However, there is concern that subsidy-based instruments could reward inframarginal firms and households that would have adopted these technologies anyway, which has been challenging to account for in policy analysis. This paper uses a stylized static model combined with empirical analysis and detailed numerical modeling to assess the extent of inframarginal investments for power sector tax credits, which have been augmented in the U.S. Inflation Reduction Act (IRA). Our empirical analysis indicates that a third of wind capacity additions and a half of solar additions are inframarginal in U.S. states without binding renewable portfolio standards (in contrast to states with mandates, where all subsidies are inframarginal). Numerical modeling suggests 28-72% of investments would occur without IRA's power sector credits. Analysis that treats all recipients as additional would underestimate the fiscal costs of tax credits, which are about two times higher for power sector credits. While this inframarginal participation increases abatement costs compared to previous analysis, the average abatement cost ($96/t-CO2) remains below recent social cost of carbon estimates ($100-360/t-CO2).

Shifting Household Power Demand Across Time: Incentives and Automation

Shefali Khanna
,
London School of Economics and Political Science
Mirabelle Muuls
,
Imperial College London
Ralf Martin
,
Imperial College London

Abstract

An increasing share of renewable energy in an energy system comes with the need to address intermittency and avoid outages by integrating elements such as storage or demand response. This paper analyses the flexibility of residential electricity demand in partnership with a large electricity distribution company in India. As part of a randomised control trial, we offer households simple Wi-Fi-enabled smart switches that control the operation of an appliance such as an air conditioner. We trigger 30-minute automated switch-offs through the smart switch and reward participants per unit of energy they avoid consuming during the switch-off event. On average, switch-off events lead to a 69% reduction in device usage during the event interval and a 74% cumulative reduction starting an hour prior and ending an hour after the event. Using data from the users’ smart meters, we find 8.5% reductions in household-level power usage during switch-off events, indicating that households do not substitute to other electricity uses during events. Furthermore, device power usage does not return to pre-switch-off levels at the end of events, which suggests that automated demand response programmes can not only deliver benefits to the energy system, but could also make household electricity use more efficient.

Strategic Avoidance and the Welfare Impacts of Solar Panel Tariffs

Bryan Bollinger
,
New York University
Todd Gerarden
,
Cornell University
Kenneth Gillingham
,
Yale University
Drew Vollmer
,
U.S. Department of Justice
Daniel Xu
,
Duke University

Abstract

This study examines the effects of tariffs imposed by the United States on imported solar panels. We first provide definitive evidence that tariff-exposed firms shifted production to locations that did not face tariffs. We then develop a structural model to analyze welfare and employment effects. We find that the tariffs led to modest gains for manufacturers with domestic operations, but large losses in domestic consumer surplus and environmental benefits. Furthermore, the tariffs reduced domestic solar industry employment and wages on net. By contrast, using industrial policy to subsidize solar panel manufacturing could increase domestic production, employment, and welfare.

Assessing the Impact of Minimum Energy Efficiency Standards for Rental Properties

Hector Sandoval
,
University of Florida
Pedro Hancevic
,
CIDE

Abstract

The global energy system is currently undergoing rapid transformation. Research indicates that rental homes remain behind in energy efficiency compared to owner-occupied residential buildings. Specifically, studies show landlords in the U.S. are less inclined to invest in high-efficiency measures. This reluctance stems from the fact that, when tenants are responsible for paying the energy bills, landlords do not reap the benefits from lower energy bills, giving rise to what is known as the split incentives or landlord-tenant problem. The cumulative impact of these inefficiencies results in increased energy consumption and expenses for renters, as well as contributing to excessive emissions. In 2020, with the intention of increasing renters’ living standards and curbing energy waste, the Gainesville City Commission in Florida adopted the Rental Housing Ordinance (RHO). This ordinance, which went into effect in October 2021, established a permit and inspection process for all residential rental units to raise energy efficiency and property maintenance standards. Using the list of homes with a rental license and the results from the rental inspections conducted since October 2021, this paper investigates whether the adoption of the RHO resulted in a decrease in energy consumption and energy bills, while also examining the social benefits arising from the potential reduction in pollutant emissions.

Discussant(s)
Erich Muehlegger
,
University of California-Davis
Kenneth Gillingham
,
Yale University
Arik Levinson
,
Georgetown University
Dylan Brewer
,
Georgia Institute of Technology
JEL Classifications
  • Q4 - Energy