Behavioral aspects in residential energy use

Abstract

Residential energy use is a field, which calls for a dynamic theoretical and analytical approach. Bearing in mind the instant technological innovations, the decision models in the energy use need to be designed in holistic way. As the energy consumption is influenced also by non-technical and non-economic factors, sustainable energy use is expected to include behavioral aspects as well. The aim of this article is to provide insight into theoretical concepts in behavioral research especially in residential energy use. Behavioral aspects relevant for the energy use are detected and the main emphasis is given to the prospect theory. Energy efficiency is explained and analysed in broader perspective. This paper shows that following the complexity of relationships in energy field the behavioral economics has a good potential to be more influential in the future of the energy.