Learning from Experts: Energy Efficiency in Residential Buildings

49 Pages Posted: 10 Oct 2023

See all articles by Monica Billio

Monica Billio

Ca Foscari University of Venice - Dipartimento di Economia; University of Venice - Department of Economics

Roberto Casarin

University Ca' Foscari of Venice - Department of Economics

Michele Costola

Ca' Foscari University of Venice

Veronica Veggente

Imperial College Business School

Date Written: October 9, 2023

Abstract

Measuring and reducing energy consumption constitutes a crucial concern in public policies aimed at mitigating global warming. The real estate sector faces the challenge of enhancing building efficiency, where insights from experts play a pivotal role in the evaluation process. This research employs a machine learning approach to analyze expert opinions, seeking to extract the key determinants influencing potential residential building efficiency and establishing an efficient prediction framework. The study leverages open Energy Performance Certificate databases from two countries with distinct latitudes, namely the UK and Italy, to investigate whether enhancing energy efficiency necessitates different intervention approaches. The findings reveal the existence of non-linear relationships between efficiency and building characteristics, which cannot be captured by conventional linear modeling frameworks. By offering insights into the determinants of residential building efficiency, this study provides guidance to policymakers and stakeholders in formulating effective and sustainable strategies for energy efficiency improvement.

Keywords: Energy efficiency, Energy Performance Certificate, Machine learning, Tree-based models, big data

JEL Classification: C10, C53, C50

Suggested Citation

Billio, Monica and Casarin, Roberto and Costola, Michele and Veggente, Veronica, Learning from Experts: Energy Efficiency in Residential Buildings (October 9, 2023). SAFE Working Paper No. 403, Available at SSRN: https://ssrn.com/abstract=4596682 or http://dx.doi.org/10.2139/ssrn.4596682

Monica Billio

Ca Foscari University of Venice - Dipartimento di Economia ( email )

Cannaregio 873
Venice, 30121
Italy

HOME PAGE: http://www.unive.it/persone/billio

University of Venice - Department of Economics ( email )

Fondamenta San Giobbe 873
Venezia 30121
Italy
+39 041 234 9170 (Phone)
+39 041 234 9176 (Fax)

Roberto Casarin

University Ca' Foscari of Venice - Department of Economics ( email )

San Giobbe 873/b
Venice, 30121
Italy
+39 030.298.91.49 (Phone)
+39 030.298.88.37 (Fax)

HOME PAGE: http://sites.google.com/view/robertocasarin

Michele Costola (Contact Author)

Ca' Foscari University of Venice ( email )

Cannaregio 873
Venice, 30121
Italy

Veronica Veggente

Imperial College Business School ( email )

South Kensington Campus
Exhibition Road
London SW7 2AZ, SW7 2AZ
United Kingdom

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