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A number of microeconomic choice models are currently applied to demonstrate systematic biases in energy consumer behavior. The models highlight the hidden potential of energy savings from policies that target the so-called behavioral anomalies. Nevertheless, whether these patterns are repeatable or not is not clear, because the efforts to determine the transferability or generalizability of these models are practically nonexistent. This paper uses a unique collection of empirical data from five EU countries collected within the CONSEED project to refine and develop further the standard consumer decision model, validate it for policy purposes, and elaborate on its transferability between countries. The pooled samples allow for a more reliable investigation of the relative importance of the factors influencing consumers’ attitudes and beliefs towards energy investment decisions. Based on the statistical tests conducted to evaluate the “transferability” of the pooled models (i.e., the possibility of creating a “universal” model of EE from the pooled model), it can be argued that the models are transferable in specific cases since attitudinal factors and demographic characteristics play a significant role. Although the pooled models are validated, any extrapolation of the above-mentioned findings to specific populations in terms of “space” (i.e., country) and “target” (e.g., sectors and technologies) should be approached with caution from a policy perspective.
Areti Kontogianni; Dimitris Damigos; Michail Skourtos; Christos Tourkolias; Eleanor Denny; Ibon Galarraga; Steffen Kallbekken; Edin Lakić. Model Validity and Transferability Informing Behavioral Energy Policies. Energies 2021, 14, 3122 .
AMA StyleAreti Kontogianni, Dimitris Damigos, Michail Skourtos, Christos Tourkolias, Eleanor Denny, Ibon Galarraga, Steffen Kallbekken, Edin Lakić. Model Validity and Transferability Informing Behavioral Energy Policies. Energies. 2021; 14 (11):3122.
Chicago/Turabian StyleAreti Kontogianni; Dimitris Damigos; Michail Skourtos; Christos Tourkolias; Eleanor Denny; Ibon Galarraga; Steffen Kallbekken; Edin Lakić. 2021. "Model Validity and Transferability Informing Behavioral Energy Policies." Energies 14, no. 11: 3122.
Which attributes are the most important when buying a property? How much do individuals value energy efficiency? What discount rates do individuals employ when investing in energy efficiency and which factors influence them? This paper examines the results of a stated preference consumer survey undertaken in Slovenia in late 2017 to investigate these questions, also trying to answer how much the consumers are willing to consider future energy savings associated with the purchase of advanced home heating controls. The results show that energy efficiency as a decision-making attribute is very important for Slovenians, being the second most important after the property price. Females, environmentally aware and married individuals are more likely to value energy efficiency highly when buying a property. Interest in energy-efficient heating controls’ investment confirms the notion that people tend to discount the future benefits at 40%, on average, and give more importance to future energy savings when the investment cost is higher. Females favour higher implicit discount rates and shorter payback periods and therefore expect a higher return (energy savings) on the investment while people with higher education levels value future costs more and are willing to invest more due to the increased benefits of energy efficiency.
Edin Lakić; Dimitris Damigos; Andrej F. Gubina. How important is energy efficiency for Slovenian households? A case of homeowners and potential homebuyers and their willingness to invest in more efficient heating controls. Energy Efficiency 2020, 14, 1 -17.
AMA StyleEdin Lakić, Dimitris Damigos, Andrej F. Gubina. How important is energy efficiency for Slovenian households? A case of homeowners and potential homebuyers and their willingness to invest in more efficient heating controls. Energy Efficiency. 2020; 14 (1):1-17.
Chicago/Turabian StyleEdin Lakić; Dimitris Damigos; Andrej F. Gubina. 2020. "How important is energy efficiency for Slovenian households? A case of homeowners and potential homebuyers and their willingness to invest in more efficient heating controls." Energy Efficiency 14, no. 1: 1-17.
Market simulators based on agent-based modeling techniques are frequently used for electricity market analyses. However, the majority of such analyses focus on the electricity markets bidding strategies on generation-side rather than on the demand-side. Meanwhile, the behavior of the demand-side in the system reserve provision has been less investigated. This paper presents a novel system reserve provision agent which is incorporated into a stochastic market optimization problem. The agent for the system reserve provision uses the SA-Q-learning algorithm to learn how much system reserve to offer at different times, while seeking to increase the ratio between their economic costs and benefits. The agent and its learning process are described in detail and are tested on the IEEE Reliability test system. It has been shown that incorporating the demand-side market strategies using the proposed agent improves the performance and the economic outcome for the consumers.
Edin Lakić; Gašper Artač; Andrej F. Gubina. Agent-based modeling of the demand-side system reserve provision. Electric Power Systems Research 2015, 124, 85 -91.
AMA StyleEdin Lakić, Gašper Artač, Andrej F. Gubina. Agent-based modeling of the demand-side system reserve provision. Electric Power Systems Research. 2015; 124 ():85-91.
Chicago/Turabian StyleEdin Lakić; Gašper Artač; Andrej F. Gubina. 2015. "Agent-based modeling of the demand-side system reserve provision." Electric Power Systems Research 124, no. : 85-91.