Socioeconomic Factors Influencing the Prosumer’s Investment Decision on Solar Power

Patrick Rausch and Michał Suchanek
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Patrick Rausch: Faculty of Economics, University of Gdańsk, Armii Krajowej 119/121, 81-824 Sopot, Poland
Michał Suchanek: Faculty of Economics, University of Gdańsk, Armii Krajowej 119/121, 81-824 Sopot, Poland

Energies, 2021, vol. 14, issue 21, 1-10

Abstract: This paper identifies socioeconomic factors that are supposed to impact the investment decision of private households in Germany regarding small-scale solar PV (photovoltaic) systems. In 2022, the last nuclear power plant will phase out and the end of coal-fired power plants is fixed for 2038. Thus, the legislator is mandated to foster the addition of renewable energy capacities to close the gap fossil fuels and nuclear power leaves. Some share of the renewable energies could be from private households that mainly invest in small-scale solar PV systems. To stimulate investments, it is necessary to identify factors that are important for the investment decisions of private households. Within this paper, secondary socioeconomic data for the period from 2009–2018 was compiled. In order to identify the latent variables, a factor analysis was conducted. The results state five factors that are supposed to impact the investment decisions of the prosumer in Germany.

Keywords: renewable energy; prosumer decision; factor analysis; investment decision (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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