Thermal Efficiency Standards and the Market for New Homes

The economic implications of a DSM program involving the construction of energy efficient houses are examined in this study through two empirical analyses focusing on the willingness of home buyers to pay for increased energy efficiency and the operating cost savings resulting from the improved thermal performance.. Using the findings of these analyses, the study examines the functioning of the housing market with respect to the valuation and cai)ltal1~UICln of energy efficiency ImlprO~Ve]ne]rlts"