Not All about the Money: The Role of Financial Information in Promoting Residential Rooftop Photovoltaics

David Boaz (), Ruslana Rachel Palatnik and Ofira Ayalon
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David Boaz: School of Environmental Sciences, University of Haifa, Haifa 3498838, Israel
Ruslana Rachel Palatnik: Department of Economics and Management, Yezreel Valley College, Emek Yezreel 1930600, Israel
Ofira Ayalon: School of Environmental Sciences, University of Haifa, Haifa 3498838, Israel

Energies, 2024, vol. 17, issue 9, 1-16

Abstract: This study investigates the role of financial information in shaping the intention to adopt (ITA) Residential Rooftop Photovoltaic (RPV) systems in Israel—a country with a surprisingly low RPV adoption rate given the high solar irradiance, and significant governmental support for RPV. We used an online survey of 899 respondents to examine how different presentations of RPV revenues impact both RPV deal comprehension and ITA. Our results align with existing literature on the roles of early technology adopters and pro-environmental characteristics while introducing two novel findings. First, households value their roofs—especially flat ones used for leisure. This negatively impacts ITA. Second, we found a positive correlation between trust in government entities and ITA, underscoring the importance of trust in institutions. Although financial information does enhance RPV deal comprehension, it does not significantly influence ITA. This study concludes that RPV penetration should not be promoted solely by financial incentives, but also by other motivations like environmental concerns, novelty seeking, and improved institutional trust.

Keywords: Residential Photovoltaics; financial information; photovoltaic adoption; willingness to accept (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: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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