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Residential Photovoltaics Adopters Versus Considerers in the United States

Author

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  • Mahelet G. Fikru

    (Department of Economics, Missouri University of Science and Technology)

Abstract

Despite rising interest in residential photovoltaics (PV), the percentage of homeowners who have installed them remains low. This study seeks to understand systematic behavioral differences between PV adopters and PV considerers. PV considerers have talked to an installer but have not yet installed PV. Our results suggest that, compared to adopters, considerers have a lower degree of risk aversion, higher scores in terms of pro-environmental norms, and higher levels of novelty seeking and independent decision making.

Suggested Citation

  • Mahelet G. Fikru, 2021. "Residential Photovoltaics Adopters Versus Considerers in the United States," Energy RESEARCH LETTERS, Asia-Pacific Applied Economics Association, vol. 2(4), pages 1-5.
    • Handle: RePEc:ayb:jrnerl:50
    DOI: 2021/10/28
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    References listed on IDEAS

    as
    1. Steffen Andersen & Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutström, 2008. "Eliciting Risk and Time Preferences," Econometrica, Econometric Society, vol. 76(3), pages 583-618, May.
    2. Farsi, Mehdi, 2010. "Risk aversion and willingness to pay for energy efficient systems in rental apartments," Energy Policy, Elsevier, vol. 38(6), pages 3078-3088, June.
    3. Qiu, Yueming & Wang, Yi David & Wang, Jianfeng, 2017. "Soak up the sun: Impact of solar energy systems on residential home values in Arizona," Energy Economics, Elsevier, vol. 66(C), pages 328-336.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Badole, Sachin B. & Bird, Stephen & Heintzelman, Martin D. & Legault, Lisa, 2024. "Willingness to pay for solar adoption: Economic, ideological, motivational, and demographic factors," Energy Economics, Elsevier, vol. 136(C).

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    More about this item

    Keywords

    risk aversion; novelty seeking; economics of PV;
    All these keywords.

    JEL classification:

    • R22 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other Demand
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources

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