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Energy efficient housing stimulus that pays for itself

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  • Nevin, Rick

Abstract

This paper describes an energy efficient housing stimulus strategy that can: (1) quickly provide large-scale job creation; (2) reduce home energy bills by 30% to 50% with associated reductions in emissions and energy assistance spending; (3) stabilize home values and reduce foreclosure inventory; (4) help to eliminate childhood lead poisoning; and (5) implement regulatory reforms that highlight market incentives for cost effective energy efficiency and alternative home energy investments. These benefits, far in excess of costs, can be achieved by combining “lead-safe window replacement” with other weatherization activities and simple regulatory and market reforms. This strategy can help to coordinate American Recovery and Reinvestment Act funding for energy efficiency, the $75 billion Making Home Affordable plan to reduce foreclosures, and the recently announced partnership between the Departments of Energy (DOE) and Housing and Urban Development (HUD) to streamline weatherization efforts and spur job creation.

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  • Nevin, Rick, 2009. "Energy efficient housing stimulus that pays for itself," MPRA Paper 35341, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:35341
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    References listed on IDEAS

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    1. Miranowski, John & Dinan, T., 1989. "Estimating the Implicit Price of Energy Efficiency Improvement in the Residential Housing Market: A Hedonic Approach," Staff General Research Papers Archive 10698, Iowa State University, Department of Economics.
    2. Dinan, Terry M. & Miranowski, John A., 1989. "Estimating the implicit price of energy efficiency improvements in the residential housing market: A hedonic approach," Journal of Urban Economics, Elsevier, vol. 25(1), pages 52-67, January.
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    5. Rick Nevin & David Jacobs, 2006. "Windows of opportunity: Lead poisoning prevention, housing affordability, and energy conservation," Housing Policy Debate, Taylor & Francis Journals, vol. 17(1), pages 185-207.
    6. Nevin, Rick & Jacobs, David / E. & Berg, Michael & Cohen, Jonathan, 2007. "Monetary benefits of preventing childhood lead poisoning with lead-safe window replacement," MPRA Paper 35340, University Library of Munich, Germany.
    7. Horowitz, Marvin J. & Haeri, Hossein, 1990. "Economic efficiency v energy efficiency : Do model conservation standards make good sense?," Energy Economics, Elsevier, vol. 12(2), pages 122-131, April.
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    9. Johnson, Ruth C & Kaserman, David L, 1983. "Housing Market Capitalization of Energy-Saving Durable Goods Investments," Economic Inquiry, Western Economic Association International, vol. 21(3), pages 374-386, July.
    10. Longstreth, Molly, 1986. "Impact of consumers' personal characteristics on hedonic prices of energy-conserving durables," Energy, Elsevier, vol. 11(9), pages 893-905.
    11. Nevin, Rick & Bender, Christopher & Gazan, Heather, 1999. "More evidence of rational market values for home energy efficiency," MPRA Paper 35344, University Library of Munich, Germany.
    12. Nevin, Rick, 2007. "Understanding international crime trends: The legacy of preschool lead exposure," MPRA Paper 35338, University Library of Munich, Germany.
    13. Nevin, Rick & Jacobs, David / E., 2006. "Windows of opportunity: lead poisoning prevention, housing affordability, and energy conservation," MPRA Paper 35342, University Library of Munich, Germany.
    14. Nevin, Rick & Watson, Gregory, 1998. "Evidence of rational market valuations for home energy efficiency," MPRA Paper 35343, University Library of Munich, Germany.
    15. Nevin, Rick, 2008. "Trends in preschool lead exposure, mental retardation, and scholastic achievement: association or causation?," MPRA Paper 35339, University Library of Munich, Germany.
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    Citations

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    Cited by:

    1. Stefan Bouzarovski, 2014. "Energy poverty in the European Union: landscapes of vulnerability," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 3(3), pages 276-289, May.
    2. Diana Hernández & Stephen Bird, 2010. "Energy Burden and the Need for Integrated Low‐Income Housing and Energy Policy," Poverty & Public Policy, John Wiley & Sons, vol. 2(4), pages 5-25, November.
    3. Saska Petrova & Michael Gentile & Ilkka Henrik Mäkinen & Stefan Bouzarovski, 2013. "Perceptions of Thermal Comfort and Housing Quality: Exploring the Microgeographies of Energy Poverty in Stakhanov, Ukraine," Environment and Planning A, , vol. 45(5), pages 1240-1257, May.
    4. Koirala, Bishwa S. & Bohara, Alok K. & Berrens, Robert P., 2014. "Estimating the net implicit price of energy efficient building codes on U.S. households," Energy Policy, Elsevier, vol. 73(C), pages 667-675.
    5. Nevin, Rick, 2012. "Lead Poisoning and The Bell Curve," MPRA Paper 36569, University Library of Munich, Germany.
    6. Pacudan, Romeo & Hamdan, Mahani, 2019. "Electricity tariff reforms, welfare impacts, and energy poverty implications," Energy Policy, Elsevier, vol. 132(C), pages 332-343.
    7. Eshchanov, Bahtiyor & Kochkorova, Djamilya, 2023. "The causal relationship between energy supply deficiency and energy poverty: a case study of Kyrgyzstan," MPRA Paper 119548, University Library of Munich, Germany.

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    More about this item

    Keywords

    Energy Efficiency; Cost Benefit Analysis; Housing; Lead Poisoning;
    All these keywords.

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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