TY - JOUR ID - 155034 TI - Residential Consumer’s Willingness to Pay for Renewable Energy: Evidence from a Double-Bounded Dichotomous Choice Survey from India JO - Journal of Renewable Energy and Environment JA - JREE LA - en SN - 2423-5547 AU - Sen, Vasundhara AD - Department of Infrastructure, Symbiosis Centre for Management and Human Resource Development, Symbiosis International (Deemed University), Pune, India. Y1 - 2023 PY - 2023 VL - 10 IS - 2 SP - 56 EP - 69 KW - Green energy contracts KW - Contingent Valuation KW - Renewable Energy KW - Willingness to pay DO - 10.30501/jree.2022.314713.1302 N2 - Despite the falling costs of Renewable Energy (RE), RE adoption in Indian residential households is still attepid growth rates. With the onset of retail electricity market deregulation in India, the introduction of “greentariffs” for residential households can be effective in resolving the issue of low RE adoption. This studyinvestigates the willingness to pay for green tariffs/renewable energy-based electricity contracts using thecontingent valuation method. Data collected from 476 Indian residential households are analyzed by theDouble-Bounded Dichotomous Choice technique. The results of the conducted maximum LikelihoodEstimation (MLE) method reveal the mean willingness to pay 308.52 Rs per household/month for consumption of green power in a premium-paying setting. Results indicate that although households hold positive perception of renewable energy, the willingness to pay is not commensurately high, indicating an attitude-action gap. The study recommends green energy defaults in residential energy contracts, direct marketing of non-use value of RE use (altruistic and bequest) by power supplying utilities, and promoting RE use through RE opinion champions/influencers as measures to enhance RE adoption amongst Indian residential energy consumers. UR - https://www.jree.ir/article_155034.html L1 - https://www.jree.ir/article_155034_2f3deb99a74510cb914d4bc272fd6399.pdf ER -