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ID:
180153
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| Summary/Abstract |
Residential energy efficiency is a core element of the decarbonisation policy in many nations. In the UK, the established approach to enabling efficiency gains through centralised retrofitting programmes involves socialising costs via consumer energy bills through the Energy Company Obligation (ECO). One UK policy concern is whether less affluent households should receive greater access to ECO funding. However, there is a broader concern that the use of constrained public resources should be justified through wider and sustained economic returns emerging. Here, we consider the (centralised) ECO approach to cost recovery alongside alternative (decentralised) approaches to delivering energy efficiency programmes that either pass costs to beneficiary households or fully socialise costs via income tax. We find the key drivers of both household and wider economy outcomes are the absolute levels of resources actually devoted to enabling efficiency gains and household disposable income freed up to power expansionary processes. The latter in particular brings challenges and trade-offs in terms of meeting both economic performance and social policy objectives, given that resources targeted at higher income households can ultimately free up more real spending ability and sustain greater gains in GDP, employment and household incomes.
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| 2 |
ID:
171508
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| Summary/Abstract |
We investigate the question of whether spending to enable ambitious EV roll-out programmes can in fact generate net gains across the wider economy. We use a multi-sector computable general equilibrium (CGE) model for the UK economy and focus on the need to upgrade electricity networks to support an initial EV penetration scenario for the period to 2030. We find that large scale spending and cost recovery for network upgrades is likely to result in net negative impacts on key macroeconomic indicators, including real income available for spending across all UK households. This is due to a combination of time-limited network upgrade activity in the presence of capacity constraints combined with the need for costs to be passed on to electricity consumers through higher bills. But the lowest income households – the group of greatest concern to policymakers – suffer the smallest losses. Moreover, the EV uptake delivers sufficient gains that deliver net positive impacts on all household incomes, with sustained expansion in GDP and employment across the economy. The key driver is a greater reliance on UK supply chains with the shift away from more import-intensive petrol and diesel fuelled vehicles towards electric ones.
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| 3 |
ID:
090087
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| Publication |
2009.
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| Summary/Abstract |
In this paper, we use an energy-economy-environment computable general equilibrium (CGE) model of the Scottish economy to examine the impacts of an exogenous increase in energy augmenting technological progress in the domestic commercial Transport sector on the supply and use of energy. We focus our analysis on Scottish refined oil, as the main type of energy input used in commercial transport activity. We find that a 5% increase in energy efficiency in the commercial Transport sector leads to rebound effects in the use of oil-based energy commodities in all time periods, in the target sector and at the economy-wide level. However, our results also suggest that such an efficiency improvement may cause a contraction in capacity in the Scottish refined oil supply sector. This 'disinvestment effect' acts as a constraint on the size of rebound effects. However, the magnitude of rebound effects and presence of the disinvestment effect in the simulations conducted here are sensitive to the specification of key elasticities of substitution in the nested production function for the target sector, particularly the substitutability of energy for non-energy intermediate inputs to production.
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