New policy brief: Smart electricity meters! And their users?
Are electricity consumers irrational fools? They keep their devices in stand-by mode, forget to switch off the lights when they leave the room, purchase halogen light bulbs (instead of LEDs) because their light is supposedly more beautiful, and they do not even think about replacing their 15-years old fridge freezers. While this kind of behaviour may sound familiar to many of us and reminds us of the difficulties of being an environmentally conscious consumer, it is quite obviously not economically rational. Indeed, there are countless studies and reports that quantify the energy efficiency potential in private households and its economic benefits.