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The Economics of Energy Efficiency

Hardback

The Economics of Energy Efficiency

Barriers to Cost-Effective Investment

9781840648898 Edward Elgar Publishing
Steve Sorrell, Research Fellow, Environment and Energy Programme, SPRU – Science and Technology Policy Research, University of Sussex, UK, Eoin O’Malley, formerly of Dublin City University, Ireland, Joachim Schleich, Senior Researcher, Department of Energy Technology and Energy Policy, Fraunhofer Institute for Systems and Innovation Research, Germany and Sue Scott, former Head, Environment Policy Research Centre, Economic and Social Research Institute, Dublin, Ireland
Publication Date: 2004 ISBN: 978 1 84064 889 8 Extent: 360 pp
This book explores the nature, operation and relative importance of different barriers to energy efficiency through a comprehensive examination of energy management practices within a wide range of public and private sector organisations. The authors use concepts from new institutional economics to explain individual and organisational behaviour in relation to energy efficiency, and identify the mechanisms through which such barriers may be overcome. In doing so, they are able to shed new light on the ‘barriers debate’ and provide a valuable input to the future development of climate policy.

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Critical Acclaim
Contents
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Why do organisations ‘leave money on the floor’ by neglecting highly cost effective measures to improve energy efficiency? This question lies at the heart of policy debates over climate change and is a focus of continuing dispute within energy economics.

This book explores the nature, operation and relative importance of different barriers to energy efficiency through a comprehensive examination of energy management practices within a wide range of public and private sector organisations. The authors use concepts from new institutional economics to explain individual and organisational behaviour in relation to energy efficiency, and identify the mechanisms through which such barriers may be overcome. In doing so, they are able to shed new light on the ‘barriers debate’ and provide a valuable input to the future development of climate policy.

Combining a critical evaluation of different theoretical perspectives with detailed case study research, this significant new book analyses how and why organisations waste energy and suggests practical policy measures to help prevent these losses. It will be required reading for professional economists, academics and students with an interest in energy use, environmental policy and organisational economics. It will also be highly relevant for policymakers and consultants working on the important policy issues surrounding energy efficiency and climate change.
Critical Acclaim
‘Energy efficiency apparently offers a highly cost effective way of cutting energy use and emissions of harmful greenhouse gases. Yet realising this potential remains an elusive goal. Policymakers and policy analysts debate what to do to overcome the so-called “barriers” to energy efficiency and, indeed, whether there is any problem at all. Steve Sorrell and his colleagues have performed an important service by picking their way through the theoretical undergrowth surrounding the economics of energy efficiency and substantiating their case with painstaking empirical research in the industrial and service sectors. Before anyone engages in yet another sterile debate about no-regrets energy efficiency measures, they should leaf their way through this book. This will show that there is no magic bullet for achieving energy efficiency – careful policy design targeted at specific sectors is what is needed.’
– Jim Skea, UK Energy Research Centre and Policy Studies Institute, UK

‘By means of detailed empirical research, this book examines energy management practices within a wide range of public and private sector organisations, including breweries, mechanical engineering firms and universities. This research is succinctly summarised in an analytically rich taxonomy of energy efficiency barriers. But the greatest academic and policy contributions of this important and timely book derive from its most impressive synthesis of the contrasting disciplinary approaches and theoretical insights – from analysis of economics, behaviour, organisational failure, rationality, adverse selection, moral hazards, risk, split incentives, and search and transaction costs. This will ensure its rightful place on all specialists’ desks.’
– John Chesshire, OBE, Chairman of the Energy Efficiency Partnership for Homes, Member of the UK Government’s Sustainable Energy Policy Advisory Board, and past President of the Institute of Energy, UK
Contents
Contents: Preface 1. Introduction 2. Understanding Barriers to Energy Efficiency 3. Energy Costs – Why Bother? Barriers to Energy Efficiency in the German Higher Education Sector 4. Leaving Money on the Floor: Barriers to Energy Efficiency in the UK Higher Education Sector 5. Standing on a Burning Platform: Barriers to Energy Efficiency in the UK Brewing Industry 6. Production Must Go On: Barriers to Energy Efficiency in the Irish Mechanical Engineering Industry 7. Regulations are not Enough: Barriers to Energy Efficiency in the UK Construction Industry 8. Barrier Busting: Overcoming Barriers to Energy Efficiency Index
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