{"title":"Do time-of-use prices deliver energy savings at the right time?","authors":"Zheng Fu , Kevin Novan , Aaron Smith","doi":"10.1016/j.jeem.2024.103054","DOIUrl":null,"url":null,"abstract":"<div><div>Time-of-use (TOU) electricity prices are increasingly being adopted to reduce consumption during the higher marginal cost afternoon hours. There is ample evidence that TOU rates reduce average consumption during the peak price hours of the day, but it is unknown how these energy savings are distributed across days. Using a unique dataset from households with smart thermostats, we find that adopting TOU rates causes large decreases in peak period AC usage, resulting in energy savings that are concentrated on the hottest, highest demand days when the benefits of conservation are the greatest.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"128 ","pages":"Article 103054"},"PeriodicalIF":5.5000,"publicationDate":"2024-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Environmental Economics and Management","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0095069624001281","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
Time-of-use (TOU) electricity prices are increasingly being adopted to reduce consumption during the higher marginal cost afternoon hours. There is ample evidence that TOU rates reduce average consumption during the peak price hours of the day, but it is unknown how these energy savings are distributed across days. Using a unique dataset from households with smart thermostats, we find that adopting TOU rates causes large decreases in peak period AC usage, resulting in energy savings that are concentrated on the hottest, highest demand days when the benefits of conservation are the greatest.
人们越来越多地采用分时电价(TOU)来减少下午边际成本较高时段的用电量。有大量证据表明,TOU 电价降低了一天中电价高峰时段的平均用电量,但这些节省下来的能源是如何在一天中分配的,我们还不得而知。通过使用智能恒温器家庭的独特数据集,我们发现采用 TOU 费率会导致高峰期空调使用量大幅下降,从而使节约的能源集中在最热、需求量最大的日子,而此时节约能源的效益最大。
期刊介绍:
The Journal of Environmental Economics and Management publishes theoretical and empirical papers devoted to specific natural resources and environmental issues. For consideration, papers should (1) contain a substantial element embodying the linkage between economic systems and environmental and natural resources systems or (2) be of substantial importance in understanding the management and/or social control of the economy in its relations with the natural environment. Although the general orientation of the journal is toward economics, interdisciplinary papers by researchers in other fields of interest to resource and environmental economists will be welcomed.