How Climate Action Plans are modified by the energy crisis? A focus on residential heating in Bristol

Nicolas Hatem ()
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Nicolas Hatem: PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, ENGIE Lab CRIGEN

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Abstract: The recent surge in European energy prices could substantially reduce the social cost of Climate Action Plans. This paper conducts an ex-ante Cost-Benefit Analysis of mitigation policies in residential heating and studies the extent to which rising energy prices modifies their cost-effectiveness. I use the city of Bristol (UK) as a case study and assess two options: (1) investing in district heating networks in central districts or (2) subsidizing energy efficiency retrofits for least efficient dwellings. Implementing either of the two policy options under high energy prices trends increase economic benefits to households by around £ 1 per pound invested, in present value, relative to a scenario with baseline energy prices trends. Besides, district heating networks become more cost-effective at mitigating carbon emissions than energy efficiency retrofits.

Date: 2023-10
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Published in Revue d'économie industrielle , 2023, 184, pp.21-73. ⟨10.4000/11x9s⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04758599

DOI: 10.4000/11x9s

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