Show Me the Money! Incentives and Nudges to Shift Electric Vehicle Charge Timing
Megan R. Bailey (),
Blake Shaffer and
Frank A. Wolak ()
Additional contact information
Megan R. Bailey: University of Calgary
Frank A. Wolak: Stanford University
No 2023-8, Working Papers from University of Alberta, Department of Economics
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.
Keywords: Electric Vehicles; Demand Response; Nudges; Experiment (search for similar items in EconPapers)
JEL-codes: Q41 Q48 Q55 Q58 R48 (search for similar items in EconPapers)
Pages: 37 pages
New Economics Papers: this item is included in nep-dcm, nep-ene, nep-exp, nep-nud, nep-reg and nep-tre
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Working Paper: Show Me the Money! Incentives and Nudges to Shift Electric Vehicle Charge Timing (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:albaec:2023_008
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