Do financial and fiscal incentive policies increase the energy efficiency ratings in residential properties? A piece of empirical evidence from Portugal

摘要

The effect of financial and fiscal incentive policies on the energy performance of residential properties in 19 districts of Portugal from 2014 to 2021 was investigated through econometric modelling. The Ordinary Least Squares (OLS) with the random-effects model was used to realise this empirical approach. The results indicated that the income per capita has a negative impact on housing with higher energy efficiency (certificates A(+), A, and B). This result suggests that the income in Portugal is insufficient and impedes investment in highly energy-efficient housing. Consumers choose the less costly lower-efficiency housing certified in categories (C, D, E, and F). The impact of consumer credit is positive for higher-efficiency housing and negative for lower-grade certificates. As for fiscal policies, the effect is also positive for higher-grade certified housing (A(+), A, B, and B-). (C) 2021 Elsevier Ltd. All rights reserved.