Incentivizing Green Single-Family Construction: Identifying Effective Government Policies and Their Features

Posted: 13 Apr 2016

See all articles by Shaun A. Bond

Shaun A. Bond

UQ Business School

Avis Devine

York University - Schulich School of Business

Date Written: April 12, 2016

Abstract

For more than a decade, governments have been incentivizing, and now requiring, private developers to construct energy efficient, sustainable projects. We examine the effectiveness of green single-family construction incentive programs. A cross-sectional comparison of municipalities with and without green private residential incentive programs indicates which government levels of policy issuance and which types of certification programs prove most successful, and when those impacts should be expected. Findings indicate that only municipalities experience success with construction-related policies, which may be tailored to their local market's construction demands. Business-related policies, however, prove effective at all levels of government implementation, with particular success at the state level. Lastly, event studies and multiyear window data indicates that green incentive policies elicit the greatest change two to three years after their implementation.

Keywords: Energy efficiency; Sustainability; Policy; Residential

JEL Classification: R11, R52, R58, E61

Suggested Citation

Bond, Shaun Alexander and Devine, Avis, Incentivizing Green Single-Family Construction: Identifying Effective Government Policies and Their Features (April 12, 2016). Journal of Real Estate Finance and Economics, Vol. 52, No. 4, 2016, Available at SSRN: https://ssrn.com/abstract=2763688

Shaun Alexander Bond (Contact Author)

UQ Business School ( email )

The University of Queensland
Brisbane, QLD 4072
Australia

Avis Devine

York University - Schulich School of Business ( email )

4700 Keele Street
Toronto, Ontario M3J 1P3
Canada

HOME PAGE: http://schulich.yorku.ca/faculty/avis-devine/

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