Understanding the risk perception of energy efficiency investments: Investment perspective vs. energy bill perspective

Rockstuhl, Sebastian; Wenninger, Simon; Wiethe, Christian; Häckel, Björn

doi:10.1016/j.enpol.2021.112616

Cited by 24 publications

(9 citation statements)

References 48 publications

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“…As a direct result of the substantial investment that local investors made in the energy sector, consumers now enjoy reduced vitality overheads and the eradication of the drive shortfall. Due to the COVID-19 outbreak, investments in biogas energy have been halted, contributing to a 17% decrease in Pakistan’s inclusive outlay in the nation’s power industry (He et al 2019 ; Rockstuhl et al 2021 ). During the COVID-19 epidemic, energy consumption and output have increased simultaneously.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

RETRACTED ARTICLE: Economic development, social media awareness, and technological innovation in biogas sector under climate change in the post-COVID-19 pandemic conditions

Ali

Qin

Dilanchiev

et al. 2023

Environ Sci Pollut Res

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After COVID-19, financing for emerging nation reserves in renewable energy bases was deemed a crucial aspect of sustainable development. Investing in biogas energy plants can be highly beneficial for lowering the use of fossil fuels. Using a survey of shareholders, investors, biogas energy professionals, and active social media participants in Pakistan, this study evaluates the intentions of individual investors to invest in biogas energy plants. The primary purpose of this study is to increase investment intent for biogas energy projects following COVID-19. This study focuses on financing biogas energy plants in the post-COVID-19 era and evaluates the research’s assumptions using partial least squares structural equation modeling (PLS-SEM). The study employed the technique of purposive sampling to acquire data for this investigation. The results indicate that attitudes, perceived biogas energy benefits, perceived investment attitudes, and supervisory structure evaluations inspire one’s propensity to finance biogas vitality plant efforts. The study found a link between eco-friendly responsiveness, monetary benefits, and investors’ actions. The aspiration of investors to mark such reserves was set up to be unpretentious by their risk aversion. Conferring to the facts, evaluating the monitoring structure is the critical factor. The previous studies on investment behavior and other forms of pro-environmental intent and action yielded contradictory results. In addition, the regulatory environment was evaluated to see how the theory of planned behavior (TPB) affects financiers’ objectives to participate in biogas power plants. The consequences of the study indicate that feelings of pride and discernment of energy expansively affect people’s desire to invest in biogas plants. Biogas energy efficacy has little effect on investors’ decisions to invest in biogas energy plants. This study offers policymakers practical ideas on enhancing investments in biogas energy plants.

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Section: Theoretical Backgroundmentioning

confidence: 99%

RETRACTED ARTICLE: Economic development, social media awareness, and technological innovation in biogas sector under climate change in the post-COVID-19 pandemic conditions

Ali

Qin

Dilanchiev

et al. 2023

Environ Sci Pollut Res

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“…Second, creating the necessary conditions in energy management systems and building automation systems is relevant. As mentioned before, future energy prices must be accessible for optimization algorithms to reduce risk in operation [45,46]. If required, (retrofit) solutions must be developed for existing systems that do not have the option of obtaining external data via the Internet.…”

Section: Resultsmentioning

confidence: 99%

The Human’s Comfort Mystery—Supporting Energy Transition with Light-Color Dimmable Room Lighting

Wenninger

Wiethe

2022

Sustainability

Self Cite

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The constant increase of intermittent renewable energies in the electricity grid complicates balancing supply and demand. Thus, research focuses on solutions in demand-side management using energy flexibility to resolve this problem. However, the interface between demand-side management and human behavior is often insufficiently addressed, although further potential could be leveraged here. This paper elaborates on the effect of light color on humans’ temperature and comfort perception in connection to energy flexibility. Researchers have found that people perceive blue light as colder and red light as warmer. To this end, we evaluate the effect of light color in a case study for a German industrial facility assuming sector-coupled electric heating. We simulate the entire heating period from October to April in an hourly granularity, using the well-established real options analysis and binomial trees as a decision support system to heuristically minimize energy expenditures by utilizing deferral options when energy prices are high. Our results show a 12.5% reduction in heating costs for sector-coupled electric heating, which extrapolated leads to CO2-eq emission savings of over 34,000 tons per year for the entire German industry, thereby supporting the energy transition.

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“…Equipping one's household with energy‐efficiency measures such as solar‐power systems or battery storage requires a substantial financial investment that is often financed through loans. Future savings are uncertain and, like the service life of such systems, can only be estimated, resulting in a significant financial risk for the consumer (Rockstuhl et al, 2021). Moreover, the potential for fire or defects in the battery storage system pose a risk to consumers' health and safety, as well as to their property.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

How higher‐order personal values affect the purchase of electricity storage—Evidence from the German photovoltaic market

Poier

Nikodemska‐Wołowik

Suchanek

2022

J of Consumer Behaviour

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Why do consumers make different decisions even when socioeconomic conditions are similar? The present article examines the effects of human values-as formulations of motivational goals-on the decision to purchase electricity storage for a photovoltaic system, a phenomenon hardly explored in prior research regarding highpriced household investments. About 50 percent of photovoltaic-system owners in Germany are also owners of an electricity storage. This study aims to explore the more deeply rooted motivational factors behind these different decisions to extend our understanding of consumers' decision-making processes regarding energyefficiency investments. It is based on an online survey of 460 owners of residential photovoltaic systems in Germany in 2019 and focuses on the interplay between higher-order values, purchase decisions, perceived risk, and environmental concern.The analysis of the higher-order values showed direct effects of conservation and self-transcendence and indirect effects of openness to change and self-enhancement, both mediated by perceived risk.

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Understanding the risk perception of energy efficiency investments: Investment perspective vs. energy bill perspective

Cited by 24 publications

References 48 publications

RETRACTED ARTICLE: Economic development, social media awareness, and technological innovation in biogas sector under climate change in the post-COVID-19 pandemic conditions

RETRACTED ARTICLE: Economic development, social media awareness, and technological innovation in biogas sector under climate change in the post-COVID-19 pandemic conditions

The Human’s Comfort Mystery—Supporting Energy Transition with Light-Color Dimmable Room Lighting

How higher‐order personal values affect the purchase of electricity storage—Evidence from the German photovoltaic market

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