1994•Unpublished venueOpen access

Energy efficiency, market failures, and government policy

CA (United States) Lawrence Berkeley Lab., M Levine, USDOE, Washington, DC (United States), TN (United States) Oak Ridge National Lab., J Koomey, J McMahon, Alan H. Sanstad, E Hirst

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Abstract

This paper presents a framework for evaluating engineering-economic evidence on the diffusion of energy efficiency improvements. Four examples are evaluated within this framework. The analysis provides evidence of market failures related to energy efficiency. Specific market failures that may impede the adoption of cost-effective energy efficiency are discussed. Two programs that have had a major impact in overcoming these market failures, utility DSM programs and appliance standards, are described.

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Key concepts: Market failure, Efficient energy use, Government (linguistics), Market efficiency, Environmental economics, Industrial organization, Economic efficiency, Energy (signal processing)