Does the energy label (EL) matter in the residential market?: a stated preference analysis in Barcelona

Marmolejo Duarte, Carlos Ramiro; Bravi, M.

doi:10.3390/buildings7020053

dc.contributor.author	Marmolejo Duarte, Carlos Ramiro
dc.contributor.author	Bravi, M.
dc.contributor.other	Universitat Politècnica de Catalunya. Departament de Tecnologia de l'Arquitectura
dc.date.accessioned	2017-09-08T12:15:33Z
dc.date.available	2017-09-08T12:15:33Z
dc.date.issued	2017-07-16
dc.identifier.citation	Marmolejo, C., Bravi, M. Does the energy label (EL) matter in the residential market?: a stated preference analysis in Barcelona. "Buildings", 16 Juliol 2017, vol. 7, núm. 2, p. 1-17.
dc.identifier.issn	0007-3725
dc.identifier.uri	http://hdl.handle.net/2117/107540
dc.description.abstract	Energy performance in buildings has become a milestone in EU environmental policy in the last 15 years. Nonetheless, in some countries such as Spain the full acceptance of the Energy Performance of Buildings Directive is still relatively rare and novel, with little evidence as to how relevant it is in the real estate market. There are different reasons for this phenomenon: on the one hand, the real estate crisis has paralyzed the completion of most of the works in new/refurbished efficient buildings (which renders it impossible to use revealed preference methods); on the other hand, information is not complete and the consumer's perception of the relevant cost/benefits could be incorrect. For this reason, assessing the trade-off between the energy label and other specific attributes of the housing market has become important. To that end, a choice experiment following an RPL (Random Parameter Logit) model was employed. This form is suitable to accommodate various empirical situations where the assumptions of the Conditional Logit model have to be relaxed. Results suggest that the Energy Label (EL) does matter in the real estate market in relation to other residential attributes. Marginal willingness to pay for an
dc.format.extent	17 p.
dc.language.iso	eng
dc.rights	Attribution-NonCommercial-NoDerivs 3.0 Spain
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject	Àrees temàtiques de la UPC::Energies::Gestió de l'energia::Estalvi energètic
dc.subject	Àrees temàtiques de la UPC::Urbanisme
dc.subject.lcsh	Buildings -- Energy conservation -- Spain -- Barcelona
dc.subject.lcsh	Real property -- Valuation -- Spain -- Barcelona
dc.subject.other	Buildings' energy performance
dc.subject.other	Choice experiments
dc.subject.other	Energy Label (EL)
dc.subject.other	Energy Performance Certifications (EPC)
dc.subject.other	Housing policies
dc.subject.other	Random Parameters Logit (RPL)
dc.subject.other	Unlabelled choices
dc.title	Does the energy label (EL) matter in the residential market?: a stated preference analysis in Barcelona
dc.type	Article
dc.subject.lemac	Béns immobles -- Valoració -- Catalunya -- Barcelona
dc.subject.lemac	Edificis -- Estalvi d'energia -- Catalunya -- Barcelona
dc.contributor.group	Universitat Politècnica de Catalunya. CPSV - Centre de Política de Sòl i Valoracions
dc.identifier.doi	10.3390/buildings7020053
dc.relation.publisherversion	http://www.mdpi.com/2075-5309/7/2/53
dc.rights.access	Open Access
drac.iddocument	21163112
dc.description.version	Postprint (published version)
upcommons.citation.author	Marmolejo, C., Bravi, M.
upcommons.citation.published	true
upcommons.citation.publicationName	Buildings
upcommons.citation.volume	7
upcommons.citation.number	2
upcommons.citation.startingPage	1
upcommons.citation.endingPage	17