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Show Me the Money! Incentives and Nudges to Shift Electric Vehicle Charge Timing / Megan R. Bailey, David P. Brown, Blake C. Shaffer, Frank A. Wolak.
- Format:
- Book
- Author/Creator:
- Bailey, Megan R.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w31630.
- NBER working paper series no. w31630
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2023.
- Summary:
- We use a field experiment to measure the effectiveness of financial incentives and moral suasion "nudges" to shift the timing of electric vehicle (EV) charging. We find EV owners respond strongly to financial incentives, while nudges have no statistically discernible effect. When financial incentives are removed, charge timing reverts to pre-intervention behavior, showing no evidence of habit formation and reinforcing our finding that "money matters". Our charge price responsiveness estimate is an order of magnitude larger than typical household electricity consumption elasticities. This result highlights the greater flexibility of EV charging over other forms of residential electricity demand.
- Notes:
- Print version record
- August 2023.
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