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Time-adjusted transaction costs for energy renovations for single-family house-owners
Luleå University of Technology, Department of Social Sciences, Technology and Arts, Social Sciences.ORCID iD: 0000-0002-5194-4197
2022 (English)In: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 114, article id 106327Article in journal (Refereed) Published
Abstract [en]

This study empirically estimated disaggregate market transaction costs facing single-family house-owners when energy renovating their dwelling. Two types of energy renovations are analysed: heat insulation and energy-saving windows. An analytical framework was developed including an adjustment mechanism for time-biases displayed by households. The decision process was modelling in three steps where households can be either latent, potential or actual clients to an energy renovation project. Data was collected by web-based surveys. The transaction costs are estimated based on time assessment, income levels and monetary expenditures occurring in the decision process. The results suggest that the magnitude of the transaction costs can be an important barrier to energy renovations. For energy-saving windows, transaction costs can constitute more than 50% of the investment cost, and almost 24% for heat insulation. The largest potential reduction in the transaction costs is found in the implementation phase.

Place, publisher, year, edition, pages
Elsevier B.V. , 2022. Vol. 114, article id 106327
Keywords [en]
Heat insulation, Energy efficiency, Time-bias, Energy-saving windows, Sweden
National Category
Building Technologies
Research subject
Economics
Identifiers
URN: urn:nbn:se:ltu:diva-93622DOI: 10.1016/j.eneco.2022.106327ISI: 000868754100003Scopus ID: 2-s2.0-85139363667OAI: oai:DiVA.org:ltu-93622DiVA, id: diva2:1706779
Funder
Swedish Energy Agency, 49550-1
Note

Validerad;2022;Nivå 2;2022-10-27 (sofila)

Available from: 2022-10-27 Created: 2022-10-27 Last updated: 2022-11-10Bibliographically approved

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Lundmark, Robert

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CiteExportLink to record
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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf