The role of trust, information and legal stability in the development of renewable energy: the analysis of non-economic factors affecting entrepreneurs’ investments in green energy in Poland

Abstract

The aim of the article is to analyse the factors influencing entrepreneurs’ decisions about investing in renewable energy. It outlines a number of different factors that may affect the process of transforming entrepreneurs into business prosumers, who thus want to limit the effects of rising energy prices. The article defends the thesis that in addition to the economic, technological and psychological dimensions, legal and political stability, access to reliable information and the level of trust in a given society are equally important. Based on the quantitative research results, the article indicates which elements are particularly important for entrepreneurs when making decisions about investing in renewable energy and which institutions are indicated by Polish entrepreneurs as responsible for implementing energy transition. The article also indicates that information about the possibility of receiving funding from the European Union and the government, the government’s energy policy and technological possibilities is important for entrepreneurs’ decisions about investing in renewable energy in Poland. It is always difficult to implement sustainable development goals without an atmosphere of trust and predictable legal stability in which entrepreneurs can run their businesses. Supplementary Information The online version contains supplementary material available at 10.1007/s10668-023-03400-z.