Green Premium Evidence from Climatic Areas: A Case in Southern Europe, Alicante (Spain)
Por favor, use este identificador para citar o enlazar este ítem:
http://hdl.handle.net/10045/86988
Título: | Green Premium Evidence from Climatic Areas: A Case in Southern Europe, Alicante (Spain) |
---|---|
Autor/es: | Taltavull de La Paz, Paloma | Pérez Sánchez, Vicente Raúl | Mora García, Raúl Tomás | Pérez Sánchez, Juan Carlos |
Grupo/s de investigación o GITE: | Economía de la Vivienda y Sector Inmobiliario (ECOVISI) | Materiales y Sistemas Constructivos de la Edificación | Grupo de Investigación en Restauración Arquitectónica de la Universidad de Alicante. GIRAUA-CICOP |
Centro, Departamento o Servicio: | Universidad de Alicante. Departamento de Análisis Económico Aplicado | Universidad de Alicante. Departamento de Edificación y Urbanismo |
Palabras clave: | Green premium | Housing asking prices | Energy certificates | Climatic areas | Endogeneity | Hedonic models | Energy efficiency policies |
Área/s de conocimiento: | Economía Aplicada | Construcciones Arquitectónicas |
Fecha de publicación: | 28-ene-2019 |
Editor: | MDPI |
Cita bibliográfica: | Taltavull de La Paz P, Perez-Sanchez VR, Mora-Garcia R-T, Perez-Sanchez J-C. Green Premium Evidence from Climatic Areas: A Case in Southern Europe, Alicante (Spain). Sustainability. 2019; 11(3):686. doi:10.3390/su11030686 |
Resumen: | The existence of a green premium in house (asking) prices in Alicante province, Spain, are analyzed using circa 9000 property observations. In developing the sample, information from energy efficiency certificates was matched with two other databases. The model tests for green premium by climatic zones using pool Ordinary Least Squares (pool-OLS) and Instrumental Variables (IV) hedonic models, adds new knowledge concerning the existence of green premiums from Southern Europe, explores differences in their estimation by climatic zone, debates the nature of the estimated green parameters, and explains the role of endogeneity in hedonic green premium models. The empirical evidence assesses the sensitivity of asking price to either energy consumption (KWh) or carbon dioxide emissions (CO2) with an apparent premium of 3%, and captures an association with efficiency rating from G to F of 1.8% and from F to E of 1.1%. Significantly, the results relating to price responses show a distinct variation between the coast and the cooler climatic zone of the interior. The paper shows that energy efficiency incentive policies should discriminate by climatic areas, and provides a price reference by which to assess the amount of incentives needed to achieve European Union (EU) objectives. |
Patrocinador/es: | This work was supported by the project RentalCal (http://www.rentalcal.eu/) funded by the European Union within the framework of H2020-EE-2014-2015: H2020-EE-2014-3-MarketUptake. |
URI: | http://hdl.handle.net/10045/86988 |
ISSN: | 2071-1050 |
DOI: | 10.3390/su11030686 |
Idioma: | eng |
Tipo: | info:eu-repo/semantics/article |
Derechos: | © 2019 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/). |
Revisión científica: | si |
Versión del editor: | https://doi.org/10.3390/su11030686 |
Aparece en las colecciones: | INV - ECOVISI - Artículos de Revistas INV - MSCE - Artículos de Revistas INV - GIRAUA-CICOP - Artículos de Revistas Investigaciones financiadas por la UE |
Archivos en este ítem:
Archivo | Descripción | Tamaño | Formato | |
---|---|---|---|---|
2019_Taltavull_etal_Sustainability.pdf | 2,85 MB | Adobe PDF | Abrir Vista previa | |
Este ítem está licenciado bajo Licencia Creative Commons