Smart Thermostats, Automation, and Time-Varying PricesIndian Rupee

• 成果类型: Article
• 署名作者: Blonz, Joshua; Palmer, Karen; Wichman, Casey j.; Wietelman, Derek c.
• 署名单位: Federal Reserve System - USA; Federal Reserve System Board of Governors; Resources for the Future; University System of Georgia; Georgia Institute of Technology; University System of Maryland; University of Maryland College Park
• 刊物名称: AMERICAN ECONOMIC JOURNAL-APPLIED ECONOMICS
• ISSN/ISSBN: 1945-7782
• DOI: 10.1257/app.20210618
• 发表日期: 2025
• 页码: 90-125
• 关键词: energy; EFFICIENCY; customers

摘要

Can automation complement economic incentives? We explore this question by randomly encouraging households to activate a feature on their existing smart thermostat that automates responsiveness to time-of-use electricity pricing. The feature reduces air conditioning use during the highest-priced afternoon period, raising indoor temperatures above a household's preferred temperature, primarily for customers who are typically home during the day. Customers infrequently override the feature when they experience discomfort, suggesting that they are willing to trade off monetary savings for small increases in discomfort. Automation thus enables low-cost changes in household energy use, with potentially large electricity supply-cost reductions at scale. ( JEL D12, D91, L94, L98, Q48)