Willingness to Pay for Renewable Electricity: A Review of Utility Market Research

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Description

As competition in the electric utility industry has become more widespread and federal legislation deregulating the utility industry more likely, utilities have become more concerned about actions they can take to help ensure the loyalty of their customers. National polls have, for 20 years, found majority preferences for renewable energy over other energy sources. This issue brief compiles and analyzes recent market research conducted by utility companies on customer interest in and willingness to pay for renewable electricity. Findings in the areas examined in this review are: Customers are favorable toward renewable sources of electricity, although they know little about ... continued below

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26 pages

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Farhar, B. C. September 9, 1999.

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Description

As competition in the electric utility industry has become more widespread and federal legislation deregulating the utility industry more likely, utilities have become more concerned about actions they can take to help ensure the loyalty of their customers. National polls have, for 20 years, found majority preferences for renewable energy over other energy sources. This issue brief compiles and analyzes recent market research conducted by utility companies on customer interest in and willingness to pay for renewable electricity. Findings in the areas examined in this review are: Customers are favorable toward renewable sources of electricity, although they know little about them; Solar and wind are the most favored sources of electricity generation; Majorities of 52% to nearly 100% of residential customers said they were willing to pay at least a modest amount more per month on their electric bills for green power; their responses follow a predictable curve showing that percentages willing to pay more decline as cost increases. The residential market for green pricing is approximately 2% near program rollout at a $5/month price increment, and should increase slowly but steadily over time; Customers may view with favor, and be more willing to purchase electricity from, utilities that provide green power.

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26 pages

Notes

OSTI as DE00012156

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  • Other Information: Supercedes report DE00012156; PBD: 9 Sep 1999

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  • Report No.: NREL/TP-550-26148
  • Grant Number: AC36-99GO10337
  • DOI: 10.2172/12156 | External Link
  • Office of Scientific & Technical Information Report Number: 12156
  • Archival Resource Key: ark:/67531/metadc621145

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Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

Office of Scientific and Technical Information (OSTI) is the Department of Energy (DOE) office that collects, preserves, and disseminates DOE-sponsored research and development (R&D) results that are the outcomes of R&D projects or other funded activities at DOE labs and facilities nationwide and grantees at universities and other institutions.

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  • September 9, 1999

Added to The UNT Digital Library

  • June 16, 2015, 7:43 a.m.

Description Last Updated

  • March 31, 2016, 5:58 p.m.

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Farhar, B. C. Willingness to Pay for Renewable Electricity: A Review of Utility Market Research, report, September 9, 1999; Golden, Colorado. (digital.library.unt.edu/ark:/67531/metadc621145/: accessed December 17, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.