In the fourth lecture, we will talk about how demand actions can contribute to the energy transition, via energy efficiency and demand response.
In the practical session, we will incorporate demand considerations and retail tariffs to our model.
Slides: day4.pdf
Suplementary Slides: slides_rtp.pdf
The exercise will be based on the paper by Reguant (2019), "The Efficiency and Sectoral Distributional Impacts of Large-Scale Renewable Energy Policies". Reading the paper in advance is encouraged.
Exercise file: day4.ipynb
Data file: data_jaere_clustered.csv, data_technology.csv
❗ Save the exercise Julia file (.ipynb) and the data zip file in the same folder. Then, open the exercise Julia file from Jupyter Notebooks to start exploring. Note that the .pdf file provides a snapshot of the exercise. It does not require any installation but it will not allow interactions.
Blonz, J. A. (2021). Making the Best of the Second-Best: Welfare Consequences of Time-Varying Electricity Prices. Working paper.
Burlig, F., Knittel, C., Rapson, D., Reguant, M., & Wolfram, C. (2020). Machine Learning from Schools about Energy Efficiency. Journal of the Association of Environmental and Resource Economists, 7(6), 1181–1217. https://doi.org/10.1086/710606
Christensen, P., Francisco, P., Myers, E., & Souza, M. (2021). Decomposing the Wedge between Projected and Realized Returns in Energy Efficiency Programs. The Review of Economics and Statistics, 1–46. https://doi.org/10.1162/resta01087
Fowlie, M., Wolfram, C., Baylis, P., Spurlock, C. A., Todd, A., and Cappers, P. (2021). Default Effects and Follow-on Behavior: Evidence from an Electricity Pricing Program. Review of Economic Studies. Direct link
Fowlie, M., Greenstone, M., Wolfram, C. (2018). Do Energy Efficiency Investments Deliver? Evidence from the Weatherization Assistance Program, The Quarterly Journal of Economics, Volume 133, Issue 3. https://doi.org/10.1093/qje/qjy005
Jessoe, K., & Rapson, D. (2014). Knowledge is (Less) power: Experimental evidence from residential energy use. American Economic Review. https://doi.org/10.1257/aer.104.4.1417
Jessoe, K., & Rapson, D. (2015). Commercial and Industrial Demand Response Under Mandatory Time-of-Use Electricity Pricing. Journal of Industrial Economics, 63(3), 397–421. https://doi.org/10.1111/joie.12082
Fabra, N., Rapson, D., Reguant, M., & Wang, J. (2021). Estimating the Elasticity to Real-Time Pricing: Evidence from the Spanish Electricity Market. AEA Papers and Proceedings, 111, 425–429. https://doi.org/10.1257/pandp.20211007