1. Likelihood to perform energy-efficient renovation is negatively affected by the age of homeowner and house loan, while homeowner’s decision to seek energy consultation prior to renovation makes it more likely to undergo energy-efficient renovation2. The number of energy-efficient renovations decreases with the age of homeowner, while the household income, living area space and energy consultation increase the number of energy-efficient renovations3. Introduction of suitable instruments in order to address endogeneity problem related to energy consultation does not change the results4. Results indicate that introduction of financial incentives in combination with informing and educating the public may have important impact on future improvements in energy-efficiency of homes.
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