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Energy efficient products often have a higher purchase price than less efficient alternatives. However, the life cycle costs are often lower due to the lower operating costs. From a purely economic point of view, efficient appliances are not only more ecological but often also more economical and, accordingly, should be purchased more frequently than less efficient appliances. However, this is not always the case. Information deficits are one of the major reasons of this discrepancy: the purchase price is visible during the purchasing process, but the follow-up costs are not, at least not in their exact amount. The EU Energy Label can be considered as a solution to close this gap. During the past decades, there has been a discussion on whether it would be better to communicate the monetary costs associated with energy consumption, since their calculation by the consumer is difficult or needs a high level of cognitive effort.
In this study, experiments and field studies on a total of 19 product groups were evaluated with regard to the question of whether the indication of costs instead of physical units affects the decision-making process of the consumer. It has been assessed under which circumstances it might positively influence the purchase decision of the customer, i.e. helping him or her to arrive at a more “energy efficient” decision. Overall, the results indicate that monetary claims possibly exceed the effect of claims on a physical basis when the costs or the differences between the alternatives available seem “relevant” to the consumer.