The Horizon 2020 funded Project PENNY (Psychological, social and financial barriers to energy efficiency) applies a behavioural science approach to better understand individual behaviour in the domain of energy efficiency.
The project’s objectives are to:
- assess the existing knowledge on behavioural factors for energy efficiency;
- test various interventions aimed at influencing both energy use and purchasing decisions;
- evaluate the importance of sociological aspects and institutional conditions for energy efficiency;
- analyse the determinants of individual energy efficiency and of investments in energy efficiency for firms;
- evaluate the broader implications of energy efficiency policies for the EU as well as for major world economies;
- increase engagement and promote more sustainable consumption habits using information technology (IT) applications.
The project seeks to advance the understanding of consumer decisions in relation to both the use of energy and the adoption of energy-efficient technologies. By paring with energy utilities and retailers in different European countries, the project will conduct field experiments through A/B testing which will enhance the design of policies aiming at maximising energy efficient behaviours. PENNY will address the two distinct decisions in the energy efficiency space: energy usage, and adoption of energy efficient products.
The project will use novel data from different European countries to take into consideration institutional and political factors. PENNY will assess the impacts of different energy efficiency policies in a medium-term perspective and the role of energy efficiency in strengthening the Paris climate agreement to limit the global warming to 1.5-2 degrees Celsius.
For more information visit the project's website at the link provided below.
Project duration: 2016-09-01 to 2019-08-31