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.

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Bailey, Megan R

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w31630.Publication details: Cambridge, Mass. National Bureau of Economic Research 2023.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: 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.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w31630 (Browse shelf(Opens below))	Not For Loan

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August 2023.

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.