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The Economic Valuation of Green ElectricityConsumers’ Willingness to Pay for Renewable Electricity in Italy: A Comparative Analysis

The Economic Valuation of Green Electricity: Consumers’ Willingness to Pay for Renewable... [European Union (EU) directive 2009/72/CE imposes environmental and energy targets on European countries. The goal of Italy is to attain 26.4% renewable electricity (RE) production from renewable energy sources (REnS) by 2020. This goal imposes an extra cost on households; consequently, it is important to estimate their willingness to pay (WTP) to attain this target. Our research is based on a nationwide survey of households conducted in November 2007 in Italy, explicitly considering uncertainty and the compulsory burden on the electricity bill. The results obtained with different models indicate that there is noticeable WTP among Italian households for the RE goal and that the estimated WTP differs according to uncertainty. Indeed, the median WTP is between EUR 4.62 and EUR 8.05 every two months per household. In this chapter, the relevance of these findings today is discussed.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

The Economic Valuation of Green ElectricityConsumers’ Willingness to Pay for Renewable Electricity in Italy: A Comparative Analysis

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Publisher
Springer Netherlands
Copyright
© The Author(s), under exclusive licence to Springer Nature B.V. 2019
ISBN
978-94-024-1572-8
Pages
53 –89
DOI
10.1007/978-94-024-1574-2_3
Publisher site
See Chapter on Publisher Site

Abstract

[European Union (EU) directive 2009/72/CE imposes environmental and energy targets on European countries. The goal of Italy is to attain 26.4% renewable electricity (RE) production from renewable energy sources (REnS) by 2020. This goal imposes an extra cost on households; consequently, it is important to estimate their willingness to pay (WTP) to attain this target. Our research is based on a nationwide survey of households conducted in November 2007 in Italy, explicitly considering uncertainty and the compulsory burden on the electricity bill. The results obtained with different models indicate that there is noticeable WTP among Italian households for the RE goal and that the estimated WTP differs according to uncertainty. Indeed, the median WTP is between EUR 4.62 and EUR 8.05 every two months per household. In this chapter, the relevance of these findings today is discussed.]

Published: Dec 13, 2018

Keywords: Willingness to pay; Renewable electricity; Contingent valuation; Uncertainty; Economic downturn; Policy evaluation

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