Residential Building Codes Do Save Energy: Evidence From Hourly Smart-Meter Data. Novan, K., Smith, A., & Zhou, T. Review of Economics and Statistics, 104(3):483-500, 2022.
Residential Building Codes Do Save Energy: Evidence From Hourly Smart-Meter Data [link]Paper  abstract   bibtex   
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.
@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://asmith.ucdavis.edu/research/residential-building-codes-do-save-energy}
}

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