Estimation of change in house sales prices in the United States after heat pump adoption

Shen, Xingchi; Liu, Pengfei; Qiu, Yueming; Patwardhan, Anand; Vaishnav, Parth

doi:10.1038/s41560-020-00706-4

Cited by 37 publications

(13 citation statements)

References 42 publications

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“…Thus, government policies can significantly influence the behavioral decisions of various stakeholders of GH [ 19 ], especially developers and buyers, by using direct financial subsidies, tax breaks, credit supports, etc. [ 20 , 21 ], which also affect the price premium from environmental certification label and market diffusion of GH [ 22 , 23 ].…”

Section: Literature Reviewmentioning

confidence: 99%

How Do Government Policies Promote Green Housing Diffusion in China? A Complex Network Game Context

Cao

Zhao

Xing

2022

IJERPH

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To reduce energy consumption and environmental pollution in the construction industry, many countries have focused on the development of green housing (GH), which is a type of green building for residential use. In China, the local governments have introduced various incentive policies to encourage the development of GH; however, its scale is still small and unevenly distributed. This implies a necessity to optimize the policies that apply to the GH incentive. To promote GH diffusion, we built an evolutionary game model on a complex network to analyze the impacts of government policies on GH pricing and demand and the profits of real estate enterprises developing GH. By implementing simulations, we further explored the incentive effect and operational mechanism of the government policies. The results show that the subsidy policy, the preferential policy for GH, and the restriction policy for ordinary housing can effectively promote the diffusion of GH to 0.6752, 0.506, and 0.5137 respectively. Meanwhile, the incentive effect of the enterprise subsidy policy and GH preferential policy gradually decreases with the increase in policy strength. In terms of the demand side, the consumer subsidy policy could promote GH diffusion to 0.7097. If the subsidy is below 120 CNY/m2, the effect of the consumer subsidy policy is less powerful than that of the enterprises subsidy policy; conversely, the former is slightly more effective than the latter. The outcome of the study has managerial implications on governmental decision-making, especially on the strategy design of incentive policies for GH.

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Section: Literature Reviewmentioning

confidence: 99%

How Do Government Policies Promote Green Housing Diffusion in China? A Complex Network Game Context

Cao

Zhao

Xing

2022

IJERPH

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“…There are three common challenges to estimating causal impacts, namely the selection bias, omitted variable bias, and model dependence 42 . Cross-sectional studies have applied the outcome of units in the control group as the counterfactual, which potentially leads to selection bias in such a way that proper randomization may not be achieved.…”

Section: Methodsmentioning

confidence: 99%

Electricity-consumption data reveals the economic impact and industry recovery during the pandemic

Wang

et al. 2021

Sci Rep

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Coping with the outbreak of Coronavirus disease 2019 (COVID-19), many countries have implemented public-health measures and movement restrictions to prevent the spread of the virus. However, the strict mobility control also brought about production stagnation and market disruption, resulting in a severe worldwide economic crisis. Quantifying the economic stagnation and predicting post-pandemic recovery are imperative issues. Besides, it is significant to examine how the impact of COVID-19 on economic activities varied with industries. As a reflection of enterprises’ production output, high-frequency electricity-consumption data is an intuitive and effective tool for evaluating the economic impact of COVID-19 on different industries. In this paper, we quantify and compare economic impacts on the electricity consumption of different industries in eastern China. In order to address this problem, we conduct causal analysis using a difference-in-difference (DID) estimation model to analyze the effects of multi-phase public-health measures. Our model employs the electricity-consumption data ranging from 2019 to 2020 of 96 counties in the Eastern China region, which covers three main economic sectors and their 53 sub-sectors. The results indicate that electricity demand of all industries (other than information transfer industry) rebounded after the initial shock, and is back to pre-pandemic trends after easing the control measures at the end of May 2020. Emergency response, the combination of all countermeasures to COVID-19 in a certain period, affected all industries, and the higher level of emergency response with stricter movement control resulted in a greater decrease in electricity consumption and production. The pandemic outbreak has a negative-lag effect on industries, and there is greater resilience in industries that are less dependent on human mobility for economic production and activities.

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“…These factors could be improved by regulating the market and establishing high standards for the product, but it will require manufacturers, suppliers, engineers, and policymakers to remove the barriers and keep abreast of the market changes and technology development. A recent study showed a positive house price premium associated with installations of ASHPs across 23 states in the US where houses with ASHPs have a 4.3-7.1% (or $10,400-17,000) price premium on average [145]. This market-driven incentive may be strengthened with the increasing value of the whole low-carbon business sector.…”

Section: Other Factors That Affect the Use Of Heat Pumps For Supporti...mentioning

confidence: 99%

Development of efficient, flexible and affordable heat pumps for supporting heat and power decarbonisation in the UK and beyond: Review and perspectives

Wang

2022

Renewable and Sustainable Energy Reviews

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Estimation of change in house sales prices in the United States after heat pump adoption

Cited by 37 publications

References 42 publications

How Do Government Policies Promote Green Housing Diffusion in China? A Complex Network Game Context

How Do Government Policies Promote Green Housing Diffusion in China? A Complex Network Game Context

Electricity-consumption data reveals the economic impact and industry recovery during the pandemic

Development of efficient, flexible and affordable heat pumps for supporting heat and power decarbonisation in the UK and beyond: Review and perspectives

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