Energy efficiency can deliver for climate policy: Evidence from machine learning-based targeting

A-Tier
Journal: Journal of Public Economics
Year: 2024
Volume: 234
Issue: C

Authors (5)

Christensen, Peter (not in RePEc) Francisco, Paul (not in RePEc) Myers, Erica (University of Calgary) Shao, Hansen (not in RePEc) Souza, Mateus (Universität Mannheim)

Score contribution per author:

0.804 = (α=2.01 / 5 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Building energy efficiency has been a cornerstone of greenhouse gas mitigation strategies for decades. However, impact evaluations have revealed that energy savings typically fall short of engineering model forecasts that currently guide funding decisions. This creates a resource allocation problem that impedes progress on climate change. Using data from the Illinois implementation of the U.S.’s largest energy efficiency program, we demonstrate that a data-driven approach to predicting retrofit impacts based on previously realized outcomes is more accurate than the status quo engineering models. Targeting high-return interventions based on these predictions dramatically increases net social benefits, from $0.93 to $1.23 per dollar invested.

Technical Details

RePEc Handle
repec:eee:pubeco:v:234:y:2024:i:c:s0047272724000343
Journal Field
Public
Author Count
5
Added to Database
2026-01-25