Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)

The existence of a green premium in house (asking) prices in Alicante province, Spain, are analyzed using circa 9000 property observations. In developing the sample, information from energy efficiency certificates was matched with two other databases. The model tests for green premium by climatic zo...

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Detalles Bibliográficos
Autores: Taltavull de La Paz, Paloma, Pérez Sánchez, Vicente Raúl, Mora García, Raúl Tomás, Pérez Sánchez, Juan Carlos
Tipo de recurso: artículo
Fecha de publicación:2019
País:España
Institución:Consejo General de la Arquitectura Técnica de España (CGATE)
Repositorio:RIARTE
OAI Identifier:oai:www.riarte.es:20.500.12251/1570
Acceso en línea:http://hdl.handle.net/20.500.12251/1570
https://doi.org/10.3390/su11030686
Access Level:acceso abierto
Palabra clave:Certificación energética
Edificación residencial
Consumo energético
Precio de venta
Emisiones de CO2
Financiación
Análisis de mercado
3305.14 Viviendas
3305.90 Transmisión de Calor en la Edificación
5311.06 Estudio de Mercado
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spelling Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)Taltavull de La Paz, PalomaPérez Sánchez, Vicente RaúlMora García, Raúl TomásPérez Sánchez, Juan CarlosCertificación energéticaEdificación residencialConsumo energéticoPrecio de ventaEmisiones de CO2FinanciaciónAnálisis de mercado3305.14 Viviendas3305.90 Transmisión de Calor en la Edificación5311.06 Estudio de Mercado3305.90 Transmisión de Calor en la EdificaciónThe existence of a green premium in house (asking) prices in Alicante province, Spain, are analyzed using circa 9000 property observations. In developing the sample, information from energy efficiency certificates was matched with two other databases. The model tests for green premium by climatic zones using pool Ordinary Least Squares (pool-OLS) and Instrumental Variables (IV) hedonic models, adds new knowledge concerning the existence of green premiums from Southern Europe, explores differences in their estimation by climatic zone, debates the nature of the estimated green parameters, and explains the role of endogeneity in hedonic green premium models. The empirical evidence assesses the sensitivity of asking price to either energy consumption (KWh) or carbon dioxide emissions (CO 2 ) with an apparent premium of 3%, and captures an association with efficiency rating from G to F of 1.8% and from F to E of 1.1%. Significantly, the results relating to price responses show a distinct variation between the coast and the cooler climatic zone of the interior. The paper shows that energy efficiency incentive policies should discriminate by climatic areas, and provides a price reference by which to assess the amount of incentives needed to achieve European Union (EU) objectives. © 2019 by the authors.MDPI AG2019info:eu-repo/semantics/articlehttp://hdl.handle.net/20.500.12251/1570https://doi.org/10.3390/su11030686reponame:RIARTEinstname:Consejo General de la Arquitectura Técnica de España (CGATE)Ingléshttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:www.riarte.es:20.500.12251/15702026-06-02T12:44:41Z
dc.title.none.fl_str_mv Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)
title Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)
spellingShingle Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)
Taltavull de La Paz, Paloma
Certificación energética
Edificación residencial
Consumo energético
Precio de venta
Emisiones de CO2
Financiación
Análisis de mercado
3305.14 Viviendas
3305.90 Transmisión de Calor en la Edificación
5311.06 Estudio de Mercado
3305.90 Transmisión de Calor en la Edificación
title_short Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)
title_full Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)
title_fullStr Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)
title_full_unstemmed Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)
title_sort Green premium evidence from climatic areas: A case in Southern Europe, Alicante (Spain)
dc.creator.none.fl_str_mv Taltavull de La Paz, Paloma
Pérez Sánchez, Vicente Raúl
Mora García, Raúl Tomás
Pérez Sánchez, Juan Carlos
author Taltavull de La Paz, Paloma
author_facet Taltavull de La Paz, Paloma
Pérez Sánchez, Vicente Raúl
Mora García, Raúl Tomás
Pérez Sánchez, Juan Carlos
author_role author
author2 Pérez Sánchez, Vicente Raúl
Mora García, Raúl Tomás
Pérez Sánchez, Juan Carlos
author2_role author
author
author
dc.subject.none.fl_str_mv Certificación energética
Edificación residencial
Consumo energético
Precio de venta
Emisiones de CO2
Financiación
Análisis de mercado
3305.14 Viviendas
3305.90 Transmisión de Calor en la Edificación
5311.06 Estudio de Mercado
3305.90 Transmisión de Calor en la Edificación
topic Certificación energética
Edificación residencial
Consumo energético
Precio de venta
Emisiones de CO2
Financiación
Análisis de mercado
3305.14 Viviendas
3305.90 Transmisión de Calor en la Edificación
5311.06 Estudio de Mercado
3305.90 Transmisión de Calor en la Edificación
description The existence of a green premium in house (asking) prices in Alicante province, Spain, are analyzed using circa 9000 property observations. In developing the sample, information from energy efficiency certificates was matched with two other databases. The model tests for green premium by climatic zones using pool Ordinary Least Squares (pool-OLS) and Instrumental Variables (IV) hedonic models, adds new knowledge concerning the existence of green premiums from Southern Europe, explores differences in their estimation by climatic zone, debates the nature of the estimated green parameters, and explains the role of endogeneity in hedonic green premium models. The empirical evidence assesses the sensitivity of asking price to either energy consumption (KWh) or carbon dioxide emissions (CO 2 ) with an apparent premium of 3%, and captures an association with efficiency rating from G to F of 1.8% and from F to E of 1.1%. Significantly, the results relating to price responses show a distinct variation between the coast and the cooler climatic zone of the interior. The paper shows that energy efficiency incentive policies should discriminate by climatic areas, and provides a price reference by which to assess the amount of incentives needed to achieve European Union (EU) objectives. © 2019 by the authors.
publishDate 2019
dc.date.none.fl_str_mv 2019
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv http://hdl.handle.net/20.500.12251/1570
https://doi.org/10.3390/su11030686
url http://hdl.handle.net/20.500.12251/1570
https://doi.org/10.3390/su11030686
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.rights.none.fl_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv MDPI AG
publisher.none.fl_str_mv MDPI AG
dc.source.none.fl_str_mv reponame:RIARTE
instname:Consejo General de la Arquitectura Técnica de España (CGATE)
instname_str Consejo General de la Arquitectura Técnica de España (CGATE)
reponame_str RIARTE
collection RIARTE
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,300719

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