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Monetising behavioural change as a policy measure to support energy management in the residential sector: A case study in Greece

Authors: Koasidis, Konstantinos; Marinakis, Vangelis; Nikas, Alexandros; Chira, Katerina; Flamos, Alexandros; Doukas, Haris;

Monetising behavioural change as a policy measure to support energy management in the residential sector: A case study in Greece

Abstract

Energy efficiency from behavioural changes will play a key role in meeting future climate targets. Current energy management actions, however, are still dominated by conventional interventions. Furthermore, demand-side transformations based on behavioural actions are hitherto underrepresented in modelling scenarios informing climate policy. In this context, this study aims to explore whether monetisation of behavioural change should be considered as a policy measure to support energy management in the residential sector. To address this question, ATOM, an energy efficiency reward mechanism based on a digital energy currency, is linked with the Dynamic high-Resolution dEmand-sidE Management model, a bottom-up agent-based model designed to simulate buildings’ energy consumption. A case study in the Greek residential sector, implementing an energy management action associated with manual adjustments of a thermostat, showcases potential for achieving a nation-wide and household-level energy reduction of 5.3% and 10% respectively, with monetisation providing an additional €200 to each engaged household on average. We highlight that monetisation of behavioural change should be considered as a promising policy, since the reward provides an adequate incentive for end-users to actively reduce consumption, and its implementation enables the quantification of behavioural change in monetary units, rendering social aspects easier to integrate in models.

Keywords

Monetisation, Energy management, Digital energy currency, Energy efficiency, Behavioural change, Climate policy

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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
views
OpenAIRE UsageCountsViews provided by UsageCounts
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17
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