Abstract:This paper studies consumer heterogeneity in the valuation of lifetime heating energy costs. The valuation is expressed as the willingness to pay higher upfront costs to obtain savings over the lifetime of the heating system. The analysis relies on administrative register data on new residential houses built by private persons in Finland during 2010-2011. The data allow estimating the WTP as a function of several observable household characteristics. The median WTP in the estimation sample is e8, with a range … Show more
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