A dollar well spent: Monetizing the societal benefits of low-income weatherization programs in the United States

Abstract

Low-income residential energy efficiency programs save energy and can yield numerous co-benefits or non-energy impacts (NEIs). This paper presents a two-component framework that can be used to measure and monetize household-related NEIs. Two examples of using the framework are presented, one associated with an evaluation of a low-income single family home weatherization program implemented in the Southeastern United States (U.S.) and a second associated with a broad NEI assessment of weatherized affordable multifamily buildings in the Northeastern and Midwestern regions of the U.S. Seventeen NEIs were subject to monetization, including reductions in medical interventions for being too cold or too hot in one's home and reductions in use of predatory loans. The results of the two monetization exercises indicate that the monetary value of the NEIs is equal to or exceeds the energy efficiency job costs and energy cost savings. It is also clear that the value of the NEIs differs quite substantially based on home type. Future research can focus on better estimating changes in NEI variables and expressing ranges of uncertainty in final monetization values.