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In order to determine the effectiveness of auditing programs in promoting energy savings, the NSW Department of Energy has carried out a project in which they ran a regression model on a small number of households.
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1. Introduction In order to determine the effectiveness of auditing programs in promoting energy savings, the NSW Department of Energy has carried out a project in which they ran a regression model on a small number of households. The households were investigated based on two forms of data: billing data consisting of annual household consumption of electricity and survey data including household demographic characteristics. Based on the econometrics, the Department concluded of a positive effectiveness of the audit program. In this paper, we are going to review the project in the following parts: Initial data analysis, Critical review of the Department's report, Proposed econometric approach, Initial result & model evaluation and Final results and main conclusions. 2. Initial data analysis a. Replication Using Shazam, we successfully replicated the results presented in the Department of Energy's report. See appendix 1.1 and 1.2 for details of the regressions. The only difference related to scale is that...
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