BEHAVIORAL DETERMINANTS OF PRIVATE INVESTMENT IN RENEWABLE ENERGY

Amir Rahmani, Ali Bonyadi Naeini, Farhad Taghizadeh-Hesary and Roohallah Aboojafari

Chapter 3 in Sustainable Growth and Green Policies:Navigating Energy and Environmental Challenges, 2025, pp 47-73 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Green finance and renewable energy (RE) investments are crucial for addressing climate change and achieving the United Nations’ Sustainable Development Goals (SDGs). The private sector has significant potential to boost investment in green projects; however, decisions to invest in RE are often influenced by various risks that are rooted in psychological factors. This chapter employs a quantitative research approach to examine the key determinants influencing investment intentions in RE projects. The study reveals that attitudes, subjective norms, and perceived behavioral control positively and significantly affect individuals’ willingness to invest in RE projects. In contrast, perceived risk has a notable negative impact on investment intentions. These findings contribute to theoretical discussions and provide empirical insights for policymakers and environmental advocates aiming to encourage individual investments in RE projects.

Keywords: Sustainable Growth; Green Policies; Energy Transition; Green Finance; Carbon Neutrality; Renewable Energy; Climate Change Policy; Environmental Sustainability; Economic Recovery; Carbon Markets; Sustainable Development; Energy Policy; Green Economic Recovery; Low-Carbon Economy; Financial Mechanisms For Sustainability; Climate Finance; Macroeconomic Policies and Sustainability; ESG Investing; Climate Resilience; Clean Energy Investment; Green Bonds; Sustainable Finance; Carbon Pricing; Energy Efficiency; Emerging Economies and Sustainability; Renewable Energy Financing; Circular Economy; Sustainable Investment; Climate Risk Assessment; Just Transition; ASEAN Energy Transition; BRICS Economies and Sustainability; OECD Green Policies; China's Carbon Market; EU Climate Policies; Southeast Asia Renewable Energy; Developing Economies and Climate Finance; Energy Poverty and Sustainable Solutions; Public Spending and Green Recovery; Net-Zero Policies; Econometric Models in Sustainability; Quantitative Analysis of Energy Markets; Cross-Sectional Autoregressive Distributed Lag Models; Behavioral Finance and Renewable Energy Investment; Policy Evaluation Frameworks; Decarbonization; Sustainable Development Goals; Green Growth (search for similar items in EconPapers)
JEL-codes: F64 O13 Q50 Q56 Q58 (search for similar items in EconPapers)
Date: 2025
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