On the relationship between building energy efficiency, aesthetic features and marketability: Toward a novel policy for energy demand reduction

Yusuf Cihat Aydin, Parham A. Mirzaei and Sanam Akhavannasab

Energy Policy, 2019, vol. 128, issue C, 593-606

Abstract: Despite significant progresses in development of energy-efficient buildings (EEBs), energy demand in building sector is still drastically increasing. This paradox is conceptualized in this study as Inefficiency of Increased Building Energy Efficiency. Marketability failure of EEBs and inefficiency in integrated design approach are the main causes of this paradox. Compared to merely focusing on the energy-efficiency enhancement, increasing the number of EEBs with a better marketability via enhancement of their aesthetic features is proposed as a novel approach for energy demand reduction in the building sector. This article aims to first investigate the current stage of EEBs’ adoption and the associated market barriers, and then to propose a multidisciplinary design approach to scrutinize the role of aesthetic features on buildings’ marketability for development of effective policies. Conducted comprehensive survey among real-estate agencies across 26 UK cities reveals a negative correlation between the energy-efficiency and housing marketability. Moreover, house price and aesthetic features are understood as the most dominant parameters that impact individuals' buying decision. Any extra initial cost of EEBs over 3% is likely to face market resistance. Furthermore, strong empirical evidences have been found to confirm that the proposed approach has a substantial potential to increase the EEBs’ number.

Keywords: Energy efficient building; Decision making; Market barrier; Willingness to pay; Window; Survey (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:128:y:2019:i:c:p:593-606

DOI: 10.1016/j.enpol.2018.12.036

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