About this event
Heating buildings contributes about 20 per cent of global CO2 emissions. Decarbonizing heating requires substituting fossil fuel-based with renewable technologies. This technological change promises environmental benefits but comes with financial costs and (perceived) uncertainty about the technology's performance. We examine the effect of adopting heat pumps on electricity and gas consumption in a staggered difference-in-difference design, exploring the timing and variation of heat pump adoption within postcode areas in the United Kingdom. We find heat pump adoption reduces gas consumption and increases electricity consumption, resulting in a net reduction of energy consumption. We further analyse the role of installers, contemporaneous technology amortization costs, and optimal subsidy size with and without accounting for CO2 savings and a carbon price.
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This event will take place in SAL 2.04, 2nd Floor Conference Room, Sir Arthur Lewis Building, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH.
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SAL
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