Since energy consumption became an important contributor to climate change owing to carbon emissions, energy-saving behavior and expenditure at the household level have been attracting scholars’ and policymakers’ attention. This study identified whether greenhouse gas emissions at the household level can be reduced through purchase of energy-saving goods and whether the energy-saving behavior enhanced with household income increase. We conducted a large-scale survey across 37 nations using internet-based and face-to-face approaches, collecting 100,956 observations. The wealth effect on energy consumption expenditure at the household level was found to be positive across countries, confirming that energy consumption increases with household wealth improvement. Furthermore, households show a positive association between household energy expenditure and life satisfaction in 27 out of 37 countries, including China, India, the United States, and Germany. Additionally, the favorable effects of household energy-saving behavior are confirmed. However, purchase of household energy-saving products has a limited effect on energy consumption expenditure, compared with that of energy-curtailment behavior. In conclusion, achieving a carbon–neutral household by reducing energy consumption expenditure at the household level is challenging; thus, along with the use of energy-saving goods, alternative energy sources, such as renewable energies, are recommended.
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