The Behavioral Impacts of Firm-level Energy-Conservation Goals in China's 11th Five-Year Plan
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AbstractEnergy efficiency is one of the most effective means of curbing energy consumption and associated pollutant emissions. However, energy-saving opportunities at negative net costs, or an energy-efficiency gap, widely exist and they defy an entirely rational explanation. This paper examines the significant overperformance of energy-intensive firms against their assigned energy-conservation goals in a national program in China's 11th Five-Year plan (2006-2010). Higher energy prices can be only partially responsible for more active energy saving. Behavioral constraints are explained to cause the bounded rationality of firms on energy-efficiency investment. As our theoretical and empirical studies show, energy-conservation goals could overcome such behavioral constraints to accelerate the commercialization of energy-efficiency technologies, reduce uncertainty and hesitancy of relevant investment, facilitate the enrichment of information, and concentrate the attention of firms on energy conservation. We conclude that goal-setting could provide an effective complementary policy instrument in dealing with energy conservation in China and possibly in other parts of the world.
All Author(s) ListWu D, Xu Y, Leung Y, Yung CW
Journal nameEnvironmental Science and Technology
Volume Number49
Issue Number1
Pages85 - 92
LanguagesEnglish-United Kingdom
Web of Science Subject CategoriesEngineering; Engineering, Environmental; Environmental Sciences; Environmental Sciences & Ecology

Last updated on 2021-17-09 at 01:28