The Energy Impacts of Green Remodeling: Evidence from the Building Sector

Tuesday, November 4th at 12:00 pm an hybrid EIEE Seminar-Webinar will be held by Yeong Jae Kim.

Yeong Jae will present “The Energy Impacts of Green Remodeling: Evidence from the Building Sector”.

Abstract: To achieve the building sector’s mid- to long-term greenhouse gas emissions reduction targets and move toward a carbon-neutral society, the key is to improve the efficiency of existing, aging buildings and transition them to low-carbon use. We examine the impact of the Green Remodeling Program on energy consumption rates of public buildings in South Korea using a staggered difference-in-difference approach. We see a decline in both electricity and gas consumption for public buildings that underwent green remodeling. However, the majority of the effect on energy consumption comes later in the years for building. Overall, green remodeled buildings, although varying in size, have lower energy consumption rates compared to buildings that have not participated in the program.