Information Feedback, Behaviour and ‘Smart Meters’: Using behavioural economics to improve our knowledge about the potential effectiveness of Smart Meters to use electricity efficiently
As part of the development of the European electricity grid, the EU has decided that ‘Smart Meters’ should be installed in 80% of the households of the EU by 2020. It is expected that this will lead to a reduction of energy use in the residential sector in the order of 10%. Driven by the so-called ‘Information-Deficit’ model, a critical assumption in this policy development is that provision of in
