The economic value of energy-saving investments by commercial and industrial firms |
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| Affiliation: | 1. UNIST, School of Business Administration, 50 UNIST-gil, Ulju-gun, Ulsan 44919, South Korea;2. Yonsei University, School of Business, Building 212, 50 Yonsei-ro, Seodaemun-gu, Seoul 03722, South Korea |
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| Abstract: | Federal law and state regulation promote the installation of energy-saving equipment by commercial and industrial firms. We estimate the reduction in energy consumption that a sample of firms obtained from such installations and compare the value of these savings, both privately and socially, with the cost of the installations. With correction for self-selection bias, the investments are found to offer favorable rates of return to the firms and, for social values of energy savings exceeding 1 c̵kWhr, to be socially beneficial. |
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