Credit, Attention, and Externalities in the Adoption of Energy Efficient Technologies by Low-Income Households

• 成果类型: Article
• 署名作者: Berkouwer, Susanna B.; Dean, Joshua T.
• 署名单位: University of Pennsylvania; University of Chicago
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20210766
• 发表日期: 2022
• 页码: 3291-3330
• 关键词: improved cooking stoves; air-pollution; HEALTH; time; POLICY; preferences; COOKSTOVE; emissions; returns; farmers

摘要

We study an energy efficient charcoal cookstove in an experiment with 1,000 households in Nairobi. We estimate a 39 percent reduction in charcoal spending, which matches engineering estimates, generating a 295 percent annual return. Despite fuel savings of $237 over the stove's two-year lifespan-and $295 in emissions reductions-households are only willing to pay $12. Drawing attention to energy savings does not increase demand. However, a loan more than doubles willingness to pay: credit constraints prevent adoption of privately optimal technologies. Energy efficient technologies could drive sustainable development by slowing greenhouse emisO13, O32, Q54)