Can product bundling increase the joint adoption of electric vehicles, solar panels and battery storage? Explorative evidence from a choice-based conjoint study in Austria

Alfons Priessner and Nina Hampl

Ecological Economics, 2020, vol. 167, issue C

Abstract: Although electric vehicle (EV) sales have recently been increasing, EVs can only contribute to mitigating climate change if the power they require is generated from renewable energy sources. Hence, a product bundle of EVs with photovoltaic (PV) solar panels in combination with battery storage (BS) for households could be instrumental in improving EV adoption rates and thus also their carbon footprint. We conducted a choice-based conjoint experiment with 393 respondents in Austria to investigate the effect of EV-PV-BS product bundles on purchase intention. Our data show that a majority of potential EV drivers, given the choice, would prefer to purchase an EV in such a bundle. Further, the purchase intention for a PV and BS is twice as high in a bundle with an EV than standalone. Segmentation analysis identified four potential customer segments, which we labelled “Price-Sensitive Non-Owners”, “Energy Self-Sufficient Owners”, “Economically Rational Owners” and “Likely Non-Adopters”. The segments specifically differ in their product preferences, which highlights a need for designing customized bundle offerings. Moreover, we show that policy incentives are more effective when product bundles are labelled with price tags already discounted by subsidies. We draw implications for practitioners and policymakers, as well as proposing areas of further research.

Keywords: Electric vehicle; Photovoltaic solar panel; Battery storage; Product bundling; Choice-based conjoint; Latent class analysis (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0921800918311480
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:167:y:2020:i:c:s0921800918311480

DOI: 10.1016/j.ecolecon.2019.106381

Access Statistics for this article

Ecological Economics is currently edited by C. J. Cleveland

More articles in Ecological Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().