What makes consumers adopt to innovative energy services in the energy market?

Anna Kowalska-Pyzalska

No HSC/16/09, HSC Research Reports from Hugo Steinhaus Center, Wroclaw University of Science and Technology

Abstract: The paper discusses the incentives and barriers of the successful adoption of the innovative energy services in the energy market. The literature review of the outcomes from field experiments and research surveys is enhanced by the results from a pilot study regarding willingness to pay for green energy and by an agent-based model of diffusion of innovative dynamic electricity tariffs. It was found out that to achieve large market penetration rates of the innovative energy services, the consumers must be aware of them. They must be also supported by the access to reliable information and advice to limit their confusion of choice. The perceived difficulty of adoption should be reduced to encourage consumers to get interested in the energy services. Also the distribution channels of the innovation, namely social influence in the consumers' social networks and advertisement in mass-media should be effectively used to boost the diffusion. The great attention should be put on the negative word of mouth, which may limit or even stop the diffusion of innovation.

Keywords: Diffusion of innovation; Incentives and barriers of adoption; Energy market; Willingness to pay; Agent-based modeling and simulation (search for similar items in EconPapers)
JEL-codes: C63 O33 Q48 Q55 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2016-10-19
New Economics Papers: this item is included in nep-ene, nep-ino and nep-reg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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