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The Diffusion Of Microgeneration Technologies.: Assessing The Influence Of Perceived Product Characteristics On Home Owners’ Willingness To Pay, Marius Claudy, Claus Michelsen, Aidan O'Driscoll
The Diffusion Of Microgeneration Technologies.: Assessing The Influence Of Perceived Product Characteristics On Home Owners’ Willingness To Pay, Marius Claudy, Claus Michelsen, Aidan O'Driscoll
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This study presents empirical insight into willingness to pay (WTP) for microgeneration technologies and the relative influence of subjective consumer perceptions. First, we apply a double-bounded-contingent valuation method to elicit Irish home owners’ willingness to pay for micro wind turbines, wood pellet boilers, solar panels and solar water heaters. Utilizing findings from the adoption of innovation literature, in a second step, we assess the influence of different antecedents on WTP for each of the four technologies, including (1) home owners’ perception of product characteristics, (2) normative influences, and (3) socio demographic characteristics. Our results show that WTP varies significantly between …