Energy Efficiency and Economic Policy: Comprehensive Theoretical, Empirical, and Policy Review

Muhammad Mushafiq, Muzammil Muhammad Khan Arisar, Hanan Tariq and Stanislaw Czapp ()
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Muhammad Mushafiq: Faculty of Management and Economics, Gdansk University of Technology, Narutowicza 11/12, 80-233 Gdansk, Poland
Muzammil Muhammad Khan Arisar: School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China
Hanan Tariq: Faculty of Electrical and Control Engineering, Gdansk University of Technology, Narutowicza 11/12, 80-233 Gdansk, Poland
Stanislaw Czapp: Faculty of Electrical and Control Engineering, Gdansk University of Technology, Narutowicza 11/12, 80-233 Gdansk, Poland

Energies, 2023, vol. 16, issue 5, 1-22

Abstract: In this paper, we analyze the role of economic policy in prompting energy efficiency. This study reviews three aspects, theoretical, empirical, and existing policies to evaluate the relationship of energy efficiency and economic policy. This study furthermore identifies the existing issues from a policy perspective in energy efficiency. Although not all public policies may be justified, it suggests that these types of financial incentives, particularly those based on economic instruments, can play a crucial role in advancing energy efficiency. Additionally, this study identifies existing issues in energy efficiency target achievement and proposes solutions based on the literature review. Finally, it provides possible future research pathways from the aspect of economic policy tools in energy efficiency.

Keywords: energy efficiency; economic policy; incentives; review (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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