Show Me the Money! Incentives and Nudges to Shift Electric Vehicle Charge Timing

Megan R. Bailey, David Brown, Blake Shaffer and Frank A. Wolak

No 31630, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We use a field experiment to measure the effectiveness of financial incentives and moral suasion “nudges” to shift the timing of electric vehicle (EV) charging. We find EV owners respond strongly to financial incentives, while nudges have no statistically discernible effect. When financial incentives are removed, charge timing reverts to pre-intervention behavior, showing no evidence of habit formation and reinforcing our finding that “money matters”. Our charge price responsiveness estimate is an order of magnitude larger than typical household electricity consumption elasticities. This result highlights the greater flexibility of EV charging over other forms of residential electricity demand.

JEL-codes: Q4 Q41 Q5 R48 (search for similar items in EconPapers)
Date: 2023-08
New Economics Papers: this item is included in nep-ene, nep-exp, nep-nud, nep-reg and nep-tre
Note: EEE
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Citations: View citations in EconPapers (4)

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Working Paper: Show Me the Money! Incentives and Nudges to Shift Electric Vehicle Charge Timing (2023)
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