Energy demand is usually correlated to income and price, neglecting the effects of behavioural factors, the environment and the macro‐economy. However, even psychological studies from the 1990s show that monetary measures are not considered the only important factors in affecting energy demand and conservation.
Consumption patterns are dynamic and multidimensional, affected by behavioural, institutional, economic, policy, environmental and technological factors, that could lead to macro‐economic rebound effects or even backfire within the economy, as in case of internal combustion engine that enhanced the second industrial revolution.
“What psychology knows about energy conservation” – Stern, 1992
“The macroeconomic rebound effect and the UK economy” – Barker et al., 2007
“The macroeconomic rebound effect and the world economy” – Barker et al., 2009
Stern, P. C. (1992) What psychology knows about energy conservation, American Psychologist, 47:10, 1224‐1232. DOI:https://doi.org/10.1037/0003-066X.47.10.1224
Barker, T., Dagoumas, A. and Rubin, J. (2009) The macroeconomic rebound effect and the world economy, Energy Efficiency, 2:4, 411-427. DOI:10.1007/s12053-009-9053-y