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Energising households: a financial analysis of incentivised energy efficiency measures in remote Australia

Havas, Lisa, Ballweg, Julie, Penna, Chris and Race, Digby (2015). Energising households: a financial analysis of incentivised energy efficiency measures in remote Australia. Energy Efficiency,8(5):951-962.

Document type: Journal Article
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IRMA ID 75039815xPUB838
Title Energising households: a financial analysis of incentivised energy efficiency measures in remote Australia
Author Havas, Lisa
Ballweg, Julie
Penna, Chris
Race, Digby
Journal Name Energy Efficiency
Publication Date 2015
Volume Number 8
Issue Number 5
ISSN 1570-646X   (check CDU catalogue open catalogue search in new window)
Scopus ID 2-s2.0-84942362955
Start Page 951
End Page 962
Total Pages 12
Place of Publication Netherlands
Publisher Springer Netherlands
Field of Research ENVIRONMENTAL SCIENCES
HERDC Category C1 - Journal Article (DIISR)
Abstract Governments in developed economies are making considerable investments in energy efficiency technologies and encouraging residential households to conserve energy. A major programme in Australia has invested A$280 million to encourage residential households to become more energy aware and make additional investment in energy efficiency measures. This paper examines the adoption of energy efficiency measures by residential households participating in this programme in a geographically remote Australian town. It uses data collected by the programme developers. It examines the financial return of the investment in terms of payback period and internal rate of return. It then discusses the financial return with respect to adoption of a range of products offered by the programme. Results show that adoption of energy efficiency measures by households was not solely guided by rational economic-maximising principles. For example, some frequently adopted measures had negative financial effectiveness. A range of important determining factors are discussed, and the consequent impact this has for analysis of the effectiveness of incentive programmes. Finally, this paper proposes considerations for future programmes to more effectively measure and target efficient adoption of energy efficient measures, both in remote and non-remote residential settings.
Keywords Energy efficiency
Households
Australia
Incentive
Internal rate of return
DOI http://dx.doi.org/10.1007/s12053-015-9326-6   (check subscription with CDU E-Gateway service for CDU Staff and Students  check subscription with CDU E-Gateway in new window)
 
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