@article{novan2020residential,
  title={Residential Building Codes Do Save Energy: Evidence From Hourly Smart-Meter Data},
  author={Novan, Kevin and Smith, Aaron and Zhou, Tianxia},
  journal={Review of Economics and Statistics},
	keywords={energy},
  year={2022},
  volume={104},
  number={3},
  pages={483-500},
	abstract={In 1978, California adopted building codes designed to reduce the energy used for temperature control. Using a rich dataset of hourly electricity consumption for 158,112 houses in Sacramento, we estimate that the average house built just after 1978 uses 8\% to 13\% less electricity for cooling than a similar house built just before 1978. Comparing the estimated savings to the policy's projected cost, our results suggest the policy passes a cost-benefit test. In settings where market failures prevent energy costs from being completely passed through to home prices, building codes can serve as a cost-effective tool for improving energy efficiency.},
	url={https://files.asmith.ucdavis.edu/2022_REStat_NSZ_buildingcodes.pdf}
}

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