Abstract
Recent increases in fine and ultrafine dust in South Korea have led to sharp increases in the sale of air purifiers, and that trend is expected to continue. As the sale of air purifiers increases, the energy that is consumed by air purifiers also increases. Therefore, improving the energy efficiency of air purifiers is an important part of improving the overall energy efficiency of society. We studied how different incentive policies affect consumer behavior because encouraging people to buy energy efficient air purifiers is important. We first investigated consumer preferences regarding air purifiers. Stated preference data were gathered from a choice experiment and a mixed logit model was used for the analysis. The results show that the most preferred attribute was price, followed by an eco-label. Based on that result, we conducted a scenario analysis to examine the economic and environmental effects of an incentive policy and eco-labeling. The monetary incentive policy increased the market share for air purifiers with a first-grade energy efficiency rating to 2.2%. The annual electricity use reduction was 5.9 GWh, with a CO2 emission reduction of 2520 tons and a policy monetary benefit of KRW 441,340,922 when we converted the effect of that market share change into economic and environmental terms. Eco-labeling also brought considerable change in the market share. These results provide a reference for implementing policies to encourage consumers to purchase energy efficient air purifiers.
Highlights
As economic growth occurs worldwide, energy demand has continuously increased, causing serious problems, such as global warming, air pollution, and ozone destruction
Taking the results of that analysis, we considered whether a particular direct incentive policy would encourage consumers to buy an energy efficient air purifier and conducted a cost-benefit analysis of that incentive policy
We found that the change in market share driven by a 10% incentive policy reduced the annual electricity usage by about 5.9 GWh and annual CO2 emissions by about 2520 t
Summary
As economic growth occurs worldwide, energy demand has continuously increased, causing serious problems, such as global warming, air pollution, and ozone destruction. Energy efficiency can be improved on both the supply and demand sides. Energy-labeling provides information regarding the energy efficiency and energy consumption of household appliances and effectively communicates energy usage information to consumers. Many countries have mandated energy-labeling for household electrical appliances to improve the efficiency of household power consumption [21]. Energy-labeling of household appliances helps to reduce electricity consumption at home, but it benefits society by improving the environment. Energy-labeling helps to lower peak power demand by reducing the power consumption of appliances [24]. Energy-labeling can help to reduce greenhouse gas emissions, in countries that heavily rely on fossil fuels for power generation [25]
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