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| 1 |
ID:
177466
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| Summary/Abstract |
What are the key factors that drive actual uptake of home battery storage? This paper uses linear probability and probit regressions with data from an Australian household survey of homes with solar panels to assess a range of economic, policy, social, and locational explanatory variables. We find that capital and policy are important determinants. Households with smaller solar systems are less likely to install batteries, an example of a physical capital effect. Households facing financial pressure, indicative of financial capital constraints, are also less likely to install home batteries. There is also evidence of a policy impact, as smaller solar feed-in tariffs motivate actual battery uptake. This paper is intended as an early contribution to the very sparse literature on actual home-battery uptake; we emphasize the importance of capital and policy analysis in future studies. There are also implications for policymakers including that higher solar feed-in tariffs may delay the battery revolution in some cases.
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| 2 |
ID:
186427
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| Summary/Abstract |
This paper uses household survey data from Australia to investigate whether renters face larger energy bills than otherwise similar households. We find that a negative unconditional effect of renting on residential electricity expenditure becomes positive when controlling for log net wealth, with renters on average spending about 8% more than otherwise similar households. This is a larger effect than in most prior studies. The effect operates via higher usage quantities rather than higher average prices, and a similar effect is found for overall residential energy expenditure including natural gas. Central to the story is that renters tend to have lower net wealth, and net wealth is associated with higher energy use due to reasons including additional appliance ownership. This makes net wealth an important control. The findings cast light on the potential for more ambitious policy responses to reduce energy-related disadvantages faced by renters in Australia. There is also scope for further research into whether similarly large effects are evident in other countries.
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| 3 |
ID:
190602
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A major challenge faced by policymakers has been determining appropriate subsidy amounts for household energy investments. This can result in inequitable support being either insufficient or excessive. Equitable reverse auctions offer a novel approach to address these issues. Households can bid an amount as a subsidy from the government that they require to go ahead with an energy investment. The lowest bids are successful in a reverse auction, allowing for cost-effective government support. The novel part is the pursuit of equity, as these auctions can occur separately for a pre-determined number of carefully chosen socio-economic groups. Equitable reverse auctions would lower inequality by design, relative to a common benchmark of equal subsidies, for a given government budget and environmental outcomes. Compared to a standard reverse auction, an equitable reverse auction will have greater equality by design but lower cost-effectiveness. However, the design of equitable reverse auctions is cost-effective within each socio-economic group. Non-additional subsidy spending would be reduced through reverse auctions. Equitable reverse auctions would be flexible to fit circumstances across countries, time, and technologies.
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| 4 |
ID:
191303
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| Summary/Abstract |
To promote the uptake of home batteries, the Victorian state government has introduced rebates, beginning in 2019. Using postcode-level data, we quantify some important drivers of home battery uptake with methods such as a negative binomial model. The results show a more robust impact on home battery uptake from housing values rather than income. This suggests that policymakers should change rebate eligibility criteria to support households with lower levels of assets rather than income. Greater focus on assets could involve more support for low-asset households, enhancing equity compared to the current approach of a high and binary eligibility threshold of $3 million related to housing values. We also find evidence that battery uptake was higher by 58% in the nine months to March 2021 for postcodes that had earlier eligibility for rebates, compared to postcodes without eligibility at the start of the period. This suggests that even minor timing differences in rebate availability can have substantial impacts on technology adoption. There are also potential social equity implications for policymakers to consider if some locations receive earlier eligibility. Our analysis showing battery-policy effectiveness is informative for other jurisdictions considering details for battery policies, given the novelty of the battery context.
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| 5 |
ID:
177498
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| Summary/Abstract |
Economists generally view carbon pricing as an efficient policy to address externalities from energy use, but political feasibility can be a persistent issue. This paper aims to comprehensively consider underlying factors contributing to carbon-pricing magnitude including environmental, social, political, and economic variables. We use the between estimator and focus on exogenous variables to explain continuous carbon-pricing variables for a global sample of countries. We find that larger coal reserves per capita have a negative effect on the log of the product of carbon-price levels and coverage. Control of corruption is a key governance variable that is positively associated with carbon-pricing outcomes. Another important political dimension is the degree of political globalisation. For economic resources, there is evidence that larger stocks of domestic credit help to enable carbon pricing. There is some evidence that climate change awareness is positively associated with carbon pricing, but the proportion perceiving climate change as a serious threat is negatively associated with carbon pricing. Our global results complement case study approaches that consider carbon-pricing design for local contexts.
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