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Energies
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Willingness to Pay Studies and Energy Use
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Willingness to Pay Studies and Energy Use

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (15 August 2023) | Viewed by 6314

Special Issue Editor

Prof. Dr. Meenakshi Rishi

E-Mail Website
Guest Editor
Albers School of Business and Economics, Seattle University, Seattle, WA 98122, USA
Interests: development economics; environmental policies; Indian economy
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Environmental concerns, significant and diverse economic risks stemming from climate change, and a desire to achieve energy security are driving many nations to develop renewable energy technology. These exigencies have produced a plethora of market-based instruments that are designed to reduce the emission of greenhouse gases (GHGs) into the atmosphere. The pivot toward renewable energy use is also being facilitated by the rapid decline in renewable electricity production costs. Critical to the transition to a greener economy is to know whether consumers are willing to pay to increase the proportion of electricity generated from renewable energy in their electricity bills. The existing literature on green programs is proliferated by experimental design studies that are focused on consumers’ stated preferences for green electricity. Accordingly, consumer statements on willingness to pay (WTP) a green premium for goods produced with lower environmental damage are becoming increasingly common in the current conjuncture.

Most Willingness to Pay (WTP) studies employ two methodological approaches—Choice Experiments and Contingent Valuation. Studies have also documented other factors, besides the price premium, that can impact preferences towards green power. For example, socio-demographic factors, such as age, gender, income, education, and household size are all considerd are all significant determinants. In general, the results of various studies show that households frequently state a willingness to pay a premium for green electricity, yet actual participation in programs depends on household characteristics, attitudes related to the environment, and the existence of “warm-glow” motives

Then, there is literature that focuses on evaluations of policies and incentives —monetary and non-monetary—aimed at increasing green goods or green energy uptake. Primarilty monetary incentives comprise discuss four types of green pricing programs: energy tariffs, contribution programs, capacity tariffs, and finance programs. Where non-monetary incentives are concerned,  literature has focused on the market for green goods, such as energy efficient appliances. Generally, this research suggests that labelling products as more energy efficient and/or cost-effective increases WTP for such and, ultimately, the adoption of such appliances.

The field of WTP for green or renewble energy products is ripe for further academic exploration. This Special Issue welcomes a diversity of submissions and research methods on WTP that deliver practical policy knowledge as deliberative polls show that customer WTP increases when customers are educated about green energy options.

Prof. Dr. Meenakshi Rishi
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Published Papers (4 papers)

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Research

14 pages, 982 KiB  
Article
Willingness to Pay for Renewably-Sourced Home Heating in the Fairbanks North Star Borough
by Georgia K. Roberts, Dominique J. Pride, Joseph M. Little and Julie M. Mueller
Energies 2023, 16(8), 3413; https://doi.org/10.3390/en16083413 - 13 Apr 2023
Viewed by 1410
Abstract
Space heating is a necessity in Alaska; however, the use of heating fuels carries both economic and environmental costs. In the Fairbanks North Star Borough (FNSB), Alaska, most households utilize heating fuel oil as a primary source for home heating and firewood as [...] Read more.
Space heating is a necessity in Alaska; however, the use of heating fuels carries both economic and environmental costs. In the Fairbanks North Star Borough (FNSB), Alaska, most households utilize heating fuel oil as a primary source for home heating and firewood as a secondary source. In the FNSB, wood-burning devices are the principal source of fine particulate matter with a size of 2.5 microns or less, (PM2.5), but firewood is less expensive when compared to heating fuel oil. The FNSB has been designated as a nonattainment area for PM2.5, which has been linked to negative cardiopulmonary impacts and other adverse health consequences. Electric thermal storage heaters (ETSH) could help solve the PM2.5 problem by displacing firewood used for residential space heating. We use dichotomous choice contingent valuation (DC-CV) to estimate willingness to pay (WTP) for an ETSH program which would allow FNSB residents to offset 100 gallons of heating fuel oil annually. Certainty correction is used to control for the presence of hypothetical bias. We find median WTP is USD 33.98 without certainty correction and USD 9.75 with certainty correction. Our results indicate that implementation of a special ETSH electricity rate based on the WTP estimate may lead to broader adoption of ETSH for space heating, which could improve air quality, reduce fuel poverty, and reduce the carbon footprint of residential space heating. Full article
(This article belongs to the Special Issue Willingness to Pay Studies and Energy Use)
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15 pages, 284 KiB  
Article
Examining Preference for Energy-Related Information through a Choice Experiment
by Makiko Nakano
Energies 2023, 16(5), 2452; https://doi.org/10.3390/en16052452 - 4 Mar 2023
Cited by 1 | Viewed by 1088
Abstract
Many studies have shown that providing information on energy consumption to a household is effective, to some extent, in encouraging its energy conservation behavior. These studies provided information free of charge. However, depending on the type of information, a household must bear costs, [...] Read more.
Many studies have shown that providing information on energy consumption to a household is effective, to some extent, in encouraging its energy conservation behavior. These studies provided information free of charge. However, depending on the type of information, a household must bear costs, such as installing the necessary equipment to obtain the information. Are people willing to pay for the information? In this study, a questionnaire survey was conducted to examine willingness to pay (WTP) for energy-related information using a choice experiment. The data were analyzed using conditional logit and latent class models. Positive WTP was estimated for information on the total energy consumption amount for the entire house, detailed electricity usage amount for each major home appliance, electricity rates by time zone, and power source composition of electricity. No significant positive results were obtained for comparison with the other households, as the class that accounted for about 40% of the analyzed sample had negative WTP for this information. When electricity companies provide comparative information, it is better to carefully consider how and to whom they provide it. The results of the latent class model show that preferences vary among classes. Although some preference variations exist, some households have a positive WTP for information on energy consumption. Full article
(This article belongs to the Special Issue Willingness to Pay Studies and Energy Use)
21 pages, 1618 KiB  
Article
Comparison of Willingness to Pay for Quality Air and Renewable Energy Considering Urban Living Experience
by Rui Zhou, Hiroatsu Fukuda, You Li and Yafei Wang
Energies 2023, 16(2), 992; https://doi.org/10.3390/en16020992 - 16 Jan 2023
Cited by 1 | Viewed by 1633
Abstract
Currently, quality air and renewable energy are main concerns in protecting the environment. Comparing willingness to pay for quality air and renewable energy is rare in the existing literature. However, the public faces these issues simultaneously. In addition, population mobility under China’s household [...] Read more.
Currently, quality air and renewable energy are main concerns in protecting the environment. Comparing willingness to pay for quality air and renewable energy is rare in the existing literature. However, the public faces these issues simultaneously. In addition, population mobility under China’s household registration system, i.e., urban living experience, may affect the willingness to pay for environmental protection. Consequently, the difference between people’s willingness to pay for quality air and renewable energy in China is discussed. Binary logistic regression is adopted to analyze the correlation factors based on data from the China General Social Survey. The results show that willingness to pay is influenced by environmental attitudes, awareness of energy use, government responsibilities, age, household income level, and trust. The effects of urban living experience on willingness to pay weakens as age decreases. Thus, improving environmental awareness and specialized knowledge remain important means of promoting willingness to pay. Our findings can help marketers and policy designers develop balanced or targeted measures when taking joint actions. Full article
(This article belongs to the Special Issue Willingness to Pay Studies and Energy Use)
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20 pages, 3083 KiB  
Article
A Preference Analysis for a Peer-to-Peer (P2P) Electricity Trading Platform in South Korea
by Dmitriy Li, Jeong-Hwan Bae and Meenakshi Rishi
Energies 2022, 15(21), 7973; https://doi.org/10.3390/en15217973 - 27 Oct 2022
Cited by 4 | Viewed by 1638
Abstract
The Korean government is committed to advance the country’s energy transition to greener energy by increasing the share of renewable electricity to 20 percent by 2030 and to 30–35 percent by 2040. Achieving these goals will necessitate flexibility in energy markets as well [...] Read more.
The Korean government is committed to advance the country’s energy transition to greener energy by increasing the share of renewable electricity to 20 percent by 2030 and to 30–35 percent by 2040. Achieving these goals will necessitate flexibility in energy markets as well as innovative business models and technological solutions. Peer-to-peer (P2P) electricity trading platforms (ETPs) are rapidly gaining traction, as they enable the integration of distributed energy sources into power systems. This study explores whether South Koreans are willing to participate in a hypothetical P2P ETP, which allows prosumers (who both consume and produce electricity) to trade electricity surpluses with their neighbours or with KEPCO (Korea Electric Power Corporation). We employ a choice experiment (CE) to examine respondent heterogeneous preferences and their willingness to pay (WTP) for a hypothetical P2P ETP in South Korea. Our findings indicate that two-thirds of total respondents in our CE are in favour of a P2P ETP if available. Cost savings and security play an essential role in respondent preferences for a P2P ETP business model. Respondents also prefer to trade renewable electricity with KEPCO rather than with other individuals. Per our statistical estimations, respondent WTP for a P2P ETP was estimated at USD 55.68/per month. Our analysis strongly recommends increasing consumer awareness of P2P ETPs to spur adoption. Energy trading platforms that are anchored in secure block chain technology can generate cost savings as well as support the country’s policy tilt toward green energy. Full article
(This article belongs to the Special Issue Willingness to Pay Studies and Energy Use)
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