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Energy and Economic Effects of Utility Financial Incentive Programs: The BPA Residential Weatherization Program

Abstract:
Many electric utilities offer their residential customers substantial financial incentives (low-interest loans or rebates) to install energy-efficient equipment and building retrofit measures (Stern, Berry, and Hirst 1985). For example, the Tennessee Valley Authority gave zero-interest loans to almost 500,000 households between 1977 and 1985; these loans average almost $1000 each for installation of retrofit measures (TVA 1985). Pacific Gas and Electric Company spent almost $100 million on administrative and debt service costs for its residential retrofit loan program, in which about 500,000 households participated (California PLC 1984).

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Energy Specializations: Energy Investment and Finance – Public and Private Risks, Risk Management; Energy Investment and Finance – Project Finance; Energy Efficiency

JEL Codes:
D81 - Criteria for Decision-Making under Risk and Uncertainty
G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Q55 - Environmental Economics: Technological Innovation

Keywords: BPA residential weatherization, Electricity conservation, Retrofit

DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No2-7


Published in Volume 8, Number 2 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.