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Not All about the Money: The Role of Financial Information in Promoting Residential Rooftop Photovoltaics

Author

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  • David Boaz

    (School of Environmental Sciences, University of Haifa, Haifa 3498838, Israel)

  • Ruslana Rachel Palatnik

    (Department of Economics and Management, Yezreel Valley College, Emek Yezreel 1930600, Israel
    NRERC—Natural Resources and Environmental Research Center, University of Haifa, Haifa 3498838, Israel)

  • Ofira Ayalon

    (School of Environmental Sciences, University of Haifa, Haifa 3498838, Israel
    NRERC—Natural Resources and Environmental Research Center, University of Haifa, Haifa 3498838, Israel)

Abstract

This study investigates the role of financial information in shaping the intention to adopt (ITA) Residential Rooftop Photovoltaic (RPV) systems in Israel—a country with a surprisingly low RPV adoption rate given the high solar irradiance, and significant governmental support for RPV. We used an online survey of 899 respondents to examine how different presentations of RPV revenues impact both RPV deal comprehension and ITA. Our results align with existing literature on the roles of early technology adopters and pro-environmental characteristics while introducing two novel findings. First, households value their roofs—especially flat ones used for leisure. This negatively impacts ITA. Second, we found a positive correlation between trust in government entities and ITA, underscoring the importance of trust in institutions. Although financial information does enhance RPV deal comprehension, it does not significantly influence ITA. This study concludes that RPV penetration should not be promoted solely by financial incentives, but also by other motivations like environmental concerns, novelty seeking, and improved institutional trust.

Suggested Citation

  • David Boaz & Ruslana Rachel Palatnik & Ofira Ayalon, 2024. "Not All about the Money: The Role of Financial Information in Promoting Residential Rooftop Photovoltaics," Energies, MDPI, vol. 17(9), pages 1-16, April.
    • Handle: RePEc:gam:jeners:v:17:y:2024:i:9:p:2043-:d:1382898
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    References listed on IDEAS

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