Capitalization of energy efficiency in housing prices. [Sample of 615 single-family dwellings, Columbus, OH]

Thesis/Dissertation · Thu Jan 01 04:00:00 EST 1981

OSTI ID:5485494

Longstreth, M

The capitalized values of energy-conserving structural characteristics of overall thermal efficiency as measured by the quantity of natural gas used for heating were imputed. Homes were described in terms of their features contributing to energy efficiency. Hedonic price theory was used to determine the implicit market prices of the energy-conserving structural characteristics and overall thermal efficiency. The implicit, or hedonic, prices were estimated with two-stage least-squares regression analysis. It was found that sample homes lacked thermal efficiency, indicating that the potential for fuel savings from conservation was substantial and that information about benefits needs improvement. The energy-conserving structural characteristics of ceiling and wall insulation and wood/vinyl window frames had statistically significant, positive effects on sale price between 1971 and 1980. Sale price declined with marginal increments in natural gas consumed for heating. When the 1971 to 1980 period was divided into two time segments it was found that storm windows and window frames had a statistically significant influence on sale price after 1975. Natural gas consumption had no effect on sale price prior to 1977 but had a sizeable, statistically significant effect after 1976. The sample was composed of 615 single-family dwellings located in Columbus, Ohio and sold between 1971 and 1980. All sample homes were heated with natural gas. Data sources included a mailed questionnaire, Multiple Listing Service, and property-tax records.

• OSTI ID: 5485494
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
291000 -- Energy Planning & Policy-- Conservation
32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATION
320101* -- Energy Conservation
Consumption
& Utilization-- Residential Buildings-- (-1987)
BUILDINGS
CAPITALIZED COST
COST
EFFICIENCY
ENERGY EFFICIENCY
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
HEATING
HOUSES
MARKET
MATHEMATICS
NATURAL GAS
PRICES
REGRESSION ANALYSIS
RESIDENTIAL BUILDINGS
SPACE HEATING
STATISTICS