Influence of the adoption of new mobility tools on investments in home renewable energy equipment: Results of a stated choice experiment

The increasing shift of individuals to use new electric mobility tools like electric cars (EV) and electric bikes has changed household energy expenditure. It may also affect households' investments in renewable energy equipment, i.e. solar panels, heat pumps. Relatively little research has been conducted on how the decision to purchase electric vehicles affects the decision to invest in home renewable energy equipment. This paper, therefore, aims to examine the effects of mobility tools decisions on the intention to invest in solar panels and heat pumps, based on the data collected through a stated choice experiment. A mixed logit model is estimated to capture unobserved heterogeneity among individuals. Results show that mobility tools significantly influence the choice of home renewable energy equipment. Households who prefer to purchase electric vehicles have a higher probability to invest in solar panels and heat pumps than households who prefer other mobility tools. In addition, EV adopters' intention to invest in solar panels are stronger than the intention to invest in heat pumps. This suggests that electric vehicle users are likely the early adopters of solar panels.