Mar 2020 – Cheetah, Deliverables & reports
[D6.2 Scientific working paper on macroeconomic effects of energy efficiency policy]
Scientific working paper on macroeconomic effects of energy efficiency policy
Matthias Pfaff, Rainer Walz
Reviewed by: Émile Chappin
Delft University of Technology
In this working paper, the macroeconomic effects of energy efficiency measures in households in the EU-28 will be analysed. It is part of the project CHEETAH (Changing Energy Efficiency Technology Adoption in Households). The CHEETAH project has the objectives of providing evidence-based input to energy efficiency policy-making by investigating the role of household decision-making on three levels:
On the micro level, the project provides empirical evidence of household energy- efficiency technology choices and responses to policy employing large-sample household surveys in eight EU member states and micro-econometric analyses based on stated preferences discrete choice experiments.
On the meso level, the project explores the impact of policies affecting household energy efficiency decision-making in the residential sector in Europe up to 2030. The project uses inputs from the micro-level analysis in order to improve the representation of investment decisions in energy demand modelling tools.
On the macro level, CHEETAH explores the long-term macroeconomic impacts of changes in micro-economic decision-making and of energy efficiency policy on employment, GDP and exports in the EU up to 2030.
The paper is structured as follows. In Chapter 3, an overview of the literature on macroeconomic effects of energy efficiency is provided. Chapter 4 presents the methodological approach used for modelling the macroeconomic effects of energy efficiency improvements. Chapter 5 summarizes the macroeconomic impulses generated from the energy demand projections of the energy demand models Invert/EE-Lab and FORECAST. The results of the macroeconomic analysis are presented in chapter 6, which closes with a discussion and interpretation of the results. A short conclusion is provided in Chapter 7.