The Economics of Energy Efficiency

Reviews / Votes

'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