{"title":"The energy efficiency price premium of residential buildings in three Italian regions","authors":"Elena Giarda , Demetrio Panarello","doi":"10.1016/j.erss.2025.103932","DOIUrl":null,"url":null,"abstract":"<div><div>The aim of this paper is to investigate the relationship between energy efficiency of residential buildings and house market prices in Italy. We employ novel, and almost unexploited, data on Energy Performance Certificates of three Italian regions (Emilia-Romagna, Lombardy and Piedmont) and merge them with house prices as well as socio-economic and climate variables at various aggregation levels. The relationship is estimated by means of hedonic regression models, quantile regressions and fixed effects panel data models. Our results reveal the existence of an energy-efficiency price premium in the three regions, with significant differences among them. Heterogeneity is also detected along the price distribution. Relevant variables showing a positive association with price are more recent construction years, higher mobility in the housing market and higher income within municipalities, while heat waves are associated with lower prices.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"121 ","pages":"Article 103932"},"PeriodicalIF":7.4000,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Energy Research & Social Science","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2214629625000131","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2025/1/29 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
The aim of this paper is to investigate the relationship between energy efficiency of residential buildings and house market prices in Italy. We employ novel, and almost unexploited, data on Energy Performance Certificates of three Italian regions (Emilia-Romagna, Lombardy and Piedmont) and merge them with house prices as well as socio-economic and climate variables at various aggregation levels. The relationship is estimated by means of hedonic regression models, quantile regressions and fixed effects panel data models. Our results reveal the existence of an energy-efficiency price premium in the three regions, with significant differences among them. Heterogeneity is also detected along the price distribution. Relevant variables showing a positive association with price are more recent construction years, higher mobility in the housing market and higher income within municipalities, while heat waves are associated with lower prices.
期刊介绍：
Energy Research & Social Science (ERSS) is a peer-reviewed international journal that publishes original research and review articles examining the relationship between energy systems and society. ERSS covers a range of topics revolving around the intersection of energy technologies, fuels, and resources on one side and social processes and influences - including communities of energy users, people affected by energy production, social institutions, customs, traditions, behaviors, and policies - on the other. Put another way, ERSS investigates the social system surrounding energy technology and hardware. ERSS is relevant for energy practitioners, researchers interested in the social aspects of energy production or use, and policymakers.
Energy Research & Social Science (ERSS) provides an interdisciplinary forum to discuss how social and technical issues related to energy production and consumption interact. Energy production, distribution, and consumption all have both technical and human components, and the latter involves the human causes and consequences of energy-related activities and processes as well as social structures that shape how people interact with energy systems. Energy analysis, therefore, needs to look beyond the dimensions of technology and economics to include these social and human elements.
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