Incentive Policy In The Area Of The Housing
Market For The Implementation Of The Kyoto
Targets: The Case Of Austria
Author(s)
A. Hoeltl
Abstract
According to the Kyoto protocol and the EU burden sharing, Austria has to
reduce its greenhouse gas emissions by 13 percent from the 1990 levels by 2008-
2012. The subject of house heating has an enormous unused carbon dioxide
emissions reduction potential, which indicates that existing institutional
conditions do not induce the required energy saving investments.
The paper is aimed at developing an efficient incentive mechanism for
implementing the Kyoto targets in the area of the residential housing stock.
Current Austrian housing market regulations cause a cut-off of incentives for
thermal-energetic renovation in the area of rental housing. Therefore the paper
concentrates on developing an incentive scheme offering a solution for the
investor/user problem on the strictly regulated rental housing market in Austria.
Keywords: Kyoto targets, housing market, emissions reduction, rent regulations,
investor/user problem, thermal-energetic renovation, incentive mechanism, Nash
solution.
1 Introduction
According to the EU burden sharing Austria has to reduce its greenhouse gas
emissions by 13 percent. The Austrian climate strategy believes the largest
reduction potential (28%) is found in the area of heating and other such private
household utilities, due to the high consumption of energy in the housing sector
and the mainly bad thermal repair of the housing stock.
From the economic point of view the greenhouse gas and carbon dioxide
(CO2) reduction is strongly correlated with the public good problem. This means
Keywords
Kyoto targets, housing market, emissions reduction, rent regulations,
investor/user problem, thermal-energetic renovation, incentive mechanism, Nash
solution.
Related Book
Other papers in this volume
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