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| DOI | 10.1016/j.enpol.2020.111830 |
| Valuation of energy performance certificates in the rental market – Professionals vs. nonprofessionals | |
| Khazal A.; Sønstebø O.J. | |
| 发表日期 | 2020 |
| ISSN | 03014215 |
| 卷号 | 147 |
| 英文摘要 | The implementation of Energy Performance Certificates (EPCs) is expected to reduce energy consumption and carbon emissions by providing actors with information that can be used to make better-informed decisions. This paper is the first to investigate EPCs in the Norwegian residential rental market. Applying the hedonic multilevel approach using information from some 440,000 rental contracts over the period of 2011–2018, we find that labeled dwellings have a premium compared with non-labeled dwellings, and that the premium is increasing with a higher EPC-label. We further define two classes of lessors – professional (real estate agents) and nonprofessionals (homeowners) – to study potential heterogeneity in EPC valuation and find that professionals assign higher rents compared with nonprofessionals. Dwellings with high energy efficiency are associated with a higher premium if rented out by a professional, a significant part of which stemming from higher EPC valuation. The results are robust to a number of heterogeneity analyses and after controlling for sample selection bias and unobserved locational heterogeneity. The findings of this paper signify the necessity to increase awareness and public dissemination regarding the EPC policy. © 2020 The Authors |
| 关键词 | Energy performance certificatesEnvironmentHousing policyMultilevel analysisResidential rental market |
| 英文关键词 | Commerce; Energy utilization; Housing; Carbon emissions; Energy performance; High energy efficiency; Informed decision; Multilevel approach; Real estate agents; Reduce energy consumption; Sample selection bias; Energy efficiency; certification; energy efficiency; environmental impact; hedonic analysis; heterogeneity; housing market; housing policy; rental sector; valuation; Norway |
| 语种 | 英语 |
| 来源期刊 | Energy Policy
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/204721 |
| 作者单位 | NTNU Business School, Norwegian University of Science and Technology, Trondheim, Norway |
| 推荐引用方式 GB/T 7714 | Khazal A.,Sønstebø O.J.. Valuation of energy performance certificates in the rental market – Professionals vs. nonprofessionals[J],2020,147. |
| APA | Khazal A.,&Sønstebø O.J..(2020).Valuation of energy performance certificates in the rental market – Professionals vs. nonprofessionals.Energy Policy,147. |
| MLA | Khazal A.,et al."Valuation of energy performance certificates in the rental market – Professionals vs. nonprofessionals".Energy Policy 147(2020). |
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