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Abstract for:

The Energy Costs of Historic Preservation

Christian A. L.  Hilber,  Charles  Palmer,  Edward W.  Pinchbeck,  July 2017
Paper No' SERCDP0217: | Full paper (pdf)
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Keywords: preservation policies, land use regulation, energy efficiency, energy consumption, climate change

JEL Classification: Q48; Q54; R38; R52

Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series: SERC Discussion Papers
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We explore the impact of historical 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. Preservation policies increase private energy costs and the social cost of carbon per designated dwelling by around £8,000 and £2,550, respectively. These costs ought to be weighed against any benefits of preservation.