Homeowners’ Willingness to Make Investment in Energy Efficiency Retrofit of Residential Buildings in China and Its Influencing Factors

Ce Huang, Jiefang Ma and Kun Song
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Ce Huang: School of Architecture, Tianjin University, Tianjin 300072, China
Jiefang Ma: Faculty of Architecture and the Built Environment, Delft University of Technology, 2628BL Delft, The Netherlands
Kun Song: School of Architecture, Tianjin University, Tianjin 300072, China

Energies, 2021, vol. 14, issue 5, 1-17

Abstract: In China, energy efficiency retrofit of residential buildings is entering a new stage in which homeowners are the main subject. In order to investigate homeowners’ willingness to invest and to analyze its influencing factors, interviews and a questionnaire survey were conducted in central Tianjin, China. The results show that homeowners have a certain willingness to invest in energy efficiency retrofit but that their willingness to pay (WTP) is far from enough to cover the total cost. Among the influencing factors, the homeowner’s age, education level, and retrofit experience as well as the age and floor area of their home are significantly related to their WTP. The reasons for the impact of these factors are further discussed, including the influences of China’s previous housing policies and retrofit policies. Policy recommendations to promote investment by homeowners are suggested based on the findings.

Keywords: energy efficiency; residential retrofit; willingness to pay; homeowner (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 (6)

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