Intentions to adopt photovoltaic systems depend on homeowners' expected personal gains and behavior of peers

Liridon Korcaj, Ulf J.J. Hahnel and Hans Spada

Renewable Energy, 2015, vol. 75, issue C, 407-415

Abstract: Photovoltaic (PV) system adoption in Germany is mainly driven by a feed-in tariff that guarantees a financial return on investment. To promote adoption in the future absence of this tariff, we explored further motives of homeowners relevant to PV system purchase intention. A sample of 200 homeowners who did not own a PV system participated in an online-survey. Only few homeowners actually planned to adopt a PV system. However, basic willingness to adopt a PV system was high, whereas willingness to pay was low - hinting at a potentially growing market with falling prices. Using path analysis, we show that the subjective norm (i.e. peer behavior and expectations) and the attitude towards PV were strong predictors of purchase intention. Attitude towards PV systems was mainly based on aspirations of social status, autarky, and financial gains, whereas costs, efforts, and risks associated with PV systems were detrimental to attitude. We conclude that to promote further adoption, energy storage systems that increase financial savings and autarky need to be improved and marketed. Furthermore, institutionalized tests of PV systems and labels need to be introduced to reduce risk perceptions among homeowners willing to adopt a PV system.

Keywords: Purchase motives; Purchase intention; Autarky; Photovoltaic system; Acceptance (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (68)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:75:y:2015:i:c:p:407-415

DOI: 10.1016/j.renene.2014.10.007

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