Does Daylight Saving Time Save Energy? Evidence from the Czech Republic
|Author:||Mgr. Lucie Častorálová|
|Year:||2019 - winter|
|Leaders:|| doc. PhDr. Zuzana Havránková Ph.D.
|Work type:|| Finance, Financial Markets and Banking
|Awards and prizes:|
|Abstract:||The recent discussion of the European Parliam ent, member states, and citizens
triggered the question whether there is s till a need for bi-annual clock shifting from
the perspective of energy savings. Em ploying the difference-in-differences method
on hourly data on electricity consumption between 2006 and 2017, the study concludes th a t daylight saving tim e policy reduces aggregate electricity consumption
by 0.35 % in the Czech Republic. Moreover, daylight saving tim e leads to 1%
savings on domestic residential electricity consumption. Overall, daylight saving
tim e increases electricity consumption in the m orning, b u t decreases electricity
consumption in the evening by greater am ount. We have estimated th a t more
than 65 % of to ta l electricity savings attrib uta ble to daylight saving tim e arose
from effect of the daylight saving tim e on residential electricity consumption.