Price Impacts of the Energy Star Label — A Case of Redundant Information
نویسنده
چکیده
The Energy Star program is the most prominent energy efficiency policy in the United States. Using data on residential clothes washers, we examine the price premium for the Energy Star label. A standard hedonic analysis reveals a number of confounding factors, including a large price premium for front loading washers. A regression discontinuity design reveals no significant price premium. Additional analysis based on a natural experiment resulting from recent changes in the Energy Star criteria suggests that there is not a significant price premium for the Energy Star label. These preliminary results cast doubt on the belief that the Energy Star label provides an incentive for manufacturers to introduce more efficient models.
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