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The energy costs of historic preservation

Hilber, Christian A. L., Palmer, Charles and Pinchbeck, Ted (2019) The energy costs of historic preservation. Journal of Urban Economics. ISSN 0094-1190 (In Press)

[img] Text (Hilber_Palmer_Pinchbeck forthcoming JUE) - Accepted Version
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Abstract

We explore the impact of historic preservation policies on domestic energy consumption. Using panel data for England from 2006 to 2013 and employing a fixed effects strategy, we document that (i) rising national energy prices induce an increase in home energy efficiency installations and a corresponding reduction in energy consumption and (ii) this energy saving effect is significantly less pronounced in Conservation Areas and in places with high concentrations of Listed Buildings, where the adoption of energy efficiency installations is typically more costly and sometimes legally prevented altogether. Historic preservation policies increase private energy costs and the social cost of carbon per designated dwelling by around £11,600 ($19,100) and £2,400 ($4,000), respectively. These costs ought to be weighed against any benefits of preservation.

Item Type: Article
Official URL: https://www.journals.elsevier.com/journal-of-urban...
Additional Information: © 2019 Elsevier Inc.
Divisions: Geography & Environment
Subjects: G Geography. Anthropology. Recreation > GF Human ecology. Anthropogeography
H Social Sciences > HD Industries. Land use. Labor > HD100 Land Use
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
JEL classification: Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q4 - Energy > Q48 - Government Policy
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q54 - Climate; Natural Disasters
R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location > R38 - Government Policies; Regulatory Policies
R - Urban, Rural, and Regional Economics > R5 - Regional Government Analysis > R52 - Land Use and Other Regulations
Date Deposited: 17 Oct 2019 14:21
Last Modified: 14 Nov 2019 00:47
URI: http://eprints.lse.ac.uk/id/eprint/102141

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