Social Versus Private Benefits of Energy Efficiency Under Time-of-Use and Increasing Block Pricing
Social Versus Private Benefits of Energy Efficiency Under Time-of-Use and Increasing Block Pricing
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DOI：
10.1007/s10640-020-00524-y
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发表时间：
2020-11-16
影响因子：
5.9
通讯作者：
Xing, Bo
中科院分区：
文献类型：
--
作者：
Liang, Jing;Qiu, Yueming;Xing, Bo
许多能源政策的实施是为了补贴采用能源效率。然而，当能源效率的私人利益超过社会利益时，消费者就会有在能源效率方面过度投资的动机;否则，就会有投资不足的动机。这项研究增加了这一讨论，提供了一个经验估计的电力节约和社会效益后，能源效率改造的消费者对分时使用（TOU）和增加块定价，分别。我们的目标是研究如何从一个给定的能源效率措施的社会与私人储蓄可能会有所不同，这取决于不同的定价计划。本研究应用了亚利桑那州2013-2017年约16，000名住宅消费者的每小时电力数据。我们发现，对于分时电价消费者，节能空调改造的私人储蓄大于社会储蓄61%，而当不考虑其他市场失灵时，委托代理问题和不完全信息）。不同的电价计划会产生不同的边际电价，这会影响能源效率投资的动机，以及影响私人和社会能源效率储蓄的电力消费行为。结果表明，应该有潜在的不同水平的政策干预，以提高能源效率的消费者在不同的价格。此外，我们还发现，能源效率使电力需求更弹性的价格变化。
Many energy policies are implemented to subsidize the adoption of energy efficiency. However, when private benefits from energy efficiency exceed the social benefits, there is an incentive for the consumers to over-invest in energy efficiency; otherwise, there is an incentive to under-invest. This study adds to this discussion by providing an empirical estimation of the electricity savings and social benefits after energy efficiency retrofits for consumers on time-of-use (TOU) and increasing block pricing, respectively. We aim to examine how social versus private savings from a given energy efficiency measure may be different depending on different pricing plans. This study applies hourly electricity data for about 16,000 residential consumers during 2013-2017 in Arizona. We show that for the TOU consumers, the private savings from energy-efficient AC retrofits are greater than the social savings by 61%, while the increasing block rate consumers' private savings exceed the social savings by 46%, when other market failures are not considered (e.g., principal-agent problem and imperfect information). Different rate plans impose different marginal electricity prices which influence the incentives to invest in energy efficiency as well as electricity consumption behaviors that can influence both the private and social savings from energy efficiency. The result indicates that there should be potentially different levels of policy interventions towards energy efficiency for consumers on different pricing. Additionally, we also find that energy efficiency makes the electricity demand more elastic to price changes.