Comparison of Energy Efficiency Incentive Programs: Rebates and White Certificates **Subscription Required**

This analysis utilizes New Jersey data to compare two incentive based approaches to energy efficiency portfolio standards (EEPS) implementation: rebates and white certificates. Quantitative modelling suggests that white certificate approaches generate much larger upfront incentive outlays than rebate programs. They do not however increase societal burden. Both programs overcome high upfront efficiency measure costs and both recoup the expenses over the long run.