EconPapers    
Economics at your fingertips  
 

The macroeconomic effects of ambitious energy efficiency policy in Germany – Combining bottom-up energy modelling with a non-equilibrium macroeconomic model

Johannes Hartwig, Judit Kockat, Wolfgang Schade and Sibylle Braungardt

Energy, 2017, vol. 124, issue C, 510-520

Abstract: Energy efficiency is one of the fastest and most cost-effective contributions to a sustainable, secure and affordable energy system. Furthermore, the so-called “non-energy benefits”, “co-benefits” or “multiple benefits” of energy efficiency are receiving increased interest from policy makers and the scientific community. Among the various non-energy benefits of energy efficiency initiatives, the macroeconomic benefits play an important role. Our study presents a detailed analysis of the long-term macroeconomic effects of German energy efficiency policy including the industry and service sectors as well as residential energy demand. We quantify the macroeconomic effects of an ambitious energy efficiency scenario by combining bottom-up models with an extended dynamic input-output model. We study sectoral shifts within the economy regarding value added and employment compared to the baseline scenario. We provide an in-depth analysis of the effects of energy efficiency policy on consumers, individual industry sectors, and the economy as a whole. We find significant positive macroeconomic effects resulting from energy efficiency initiatives, with growth effects for both GDP and employment ranging between 0.88% and 3.38%. Differences in sectoral gains lead to a shift in the economy. Our methodological approach provides a comprehensive framework for analyzing the macroeconomic benefits of energy efficiency.

Keywords: Energy efficiency; Impact assessment; Macroeconomic modelling; Co-benefits; Energy demand modelling (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544217302517
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:124:y:2017:i:c:p:510-520

DOI: 10.1016/j.energy.2017.02.077

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-05-06
Handle: RePEc:eee:energy:v:124:y:2017:i:c:p:510-520