The oil crash of 2014 is expected to have a moderate impact on the global economy with oil importers seeing a boost in growth. The long-term impacts on climate change are difficult to predict but it is very likely that these might even be beneficial to the process of decarbonising the global energy economy. Most countries, including India, could use the opportunity to reduce fossil fuel subsidies and invest in renewable energy instead.
 

Purpose - The key purpose of this paper is to quantify the size of the energy-efficiency gap (EEG) for air conditioners at the household level in Delhi. Most of the studies in the EEG tradition broadly define EEG as the difference between the actual and optimal level of energy efficiency. The optimal level of energy efficiency is defined at the societal level (that weigh social costs against social benefits) and the private level (that weigh private costs against private benefits).