Journal
ECOLOGICAL ECONOMICS
Volume 67, Issue 1, Pages 140-152Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ecolecon.2007.12.006
Keywords
non-market valuation; choice experiments; willingness to pay; renewable energy; energy security; greenhouse gases emissions
Funding
- ESRC [ES/G007438/1] Funding Source: UKRI
- Economic and Social Research Council [ES/G007438/1] Funding Source: researchfish
Ask authors/readers for more resources
This paper investigates the willingness to pay of a sample of residents of Bath, England, for a hypothetical program that promotes the production of renewable energy. Using choice experiments, we assess the preferences of respondents for a policy for the promotion of renewable energy that: (i) contributes to the internalization of the external costs caused by fossil fuel technologies; (ii) affects the short-term security of energy supply; (iii) has an impact on the employment in the energy sector; and (iv) leads to an increase in the electricity bill. Responses to the choice questions show that our respondents are in favour of a policy for renewable energy and that they attach a high value to a policy that brings private and public benefits in terms of climate change and energy security benefits. Our results therefore suggest that consumers are willing to pay a higher price for electricity in order to internalize the external costs in terms of energy security, climate change and air pollution caused by the production of electricity. (C) 2007 Elsevier B.V. All rights reserved.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available