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California law specifically requires that cost/benefit analyses be conducted for the energy code: "The CEC is required to adopt or revise standards that shall be cost-effective when taken in their entirety and when amortized over the economic life of the structure compared with historic practice.

energy.ca.govEnvironmental Impact Report: Amendments to the Building Efficiency Standards (2022 Energy Code)The Warren-Alquist Act establishes the CEC as California’s primary energy policy and planning agency.3 The CEC is required to adopt regulations to reduce the wasteful, uneconomic, inefficient, or unne...

If you dig around, you should find cost/benefit analyses conducted or commissioned by the CEC for every edition of the CA Energy Code. If those analyses don’t clearly demonstrate cost-effectiveness, that would obviously be a problem. So far, though, I haven’t seen any evidence of problems with them.