A new unified approach to evaluate economic acceptance towards main green technologies using the meta-analysis

Abstract

The aim of this paper is to analyze the main determinants of the economic acceptability of four Green Technologies (GTs): alternative fuel vehicles, energy savings in residential buildings, smart meters and renewable electricity, using a meta-analysis on a sample of 35 selected papers, which provided 245 primary data. This approach allows detecting relationships across heterogeneous studies, avoiding the subjectivity of qualitative surveys. We implement a new two-step procedure. First, we compute a measure of the implicit price for a kilogram of CO2 avoided (PCO2), homogenizing the usable information for the GTs considered. Second, we conduct a meta-regression using the computed PCO2 values to estimate the socio-economic determinants' impact. In general, our results show a wide degree of acceptability for GTs which is stronger among European citizens. In particular, it emerges that, on average, the estimated PCO2 is positive for the GTs considered, and additional positive effects exist when respondents are confronted with an explicit reference to quantitative targets in terms of CO2 abatement, a clear proposal for payment timing, and a specific renewable electricity mix. These results indicate that information and transparency are crucial to spur GTs deployment. Therefore, to support GTs’ market penetration, public and private institutional stakeholders, have to provide “ad hoc” information to the end users, setting a clear and suitable system of prices to increase the economic value end users place on GTs.