I thank Severin Borenstein, Howard Chong, Olivier Deschenes, David Levine, Aaron Swoboda, Catherine Wolfram, Yves Zenou and seminar participants at the University of Illinois College of Business, the UC-Berkeley Green Buildings Conference, RAND, and the California Energy Commission for helpful comments. Research support from the California Energy Commission is is gratefully acknowledged.
Lucas W. Davis
The research reported in this paper was not the result of a for-pay consulting relationship and neither the author nor his respective institutions have a financial interest in the topic of the paper which might constitute a conflict of interest.