Consumer willingness-to-pay for a resilient electrical grid

Dayton Lambert, Joseph T. Ripberger, Hank Jenkins-Smith, Carol L. Silva, Warigia Bowman, Michael A. Long, Kuhika Gupta and Andrew Fox

Energy Economics, 2024, vol. 131, issue C

Abstract: The research objective is to estimate consumer willingness to pay (WTP) for electricity grid fortification. Data are from a representative survey of Oklahoma citizens. Extreme weather events, aging utility infrastructure, increased demand for affordable energy, and terrorism threaten the safety and security of the way most citizens access electricity. This study is a first look at public willingness to support energy grid security measures in the United States Southern Great Plains. Findings suggest that consumers would pay an additional $14.69 in monthly utility bills for a fortified grid. This WTP estimate is close to a recent energy bill hike of $14 initiated by local electricity providers. The findings provide policymakers and energy providers with information on consumer willingness to support efforts to modernize the current grid.

Keywords: Willingness-to-pay; Electricity; Grid; Ordered probit; Sample selection (search for similar items in EconPapers)
JEL-codes: C5 H4 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:131:y:2024:i:c:s0140988324000537

DOI: 10.1016/j.eneco.2024.107345

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