Abstract
Concerns regarding the development of renewable energy have increased because of dwindling conventional energy resources and increasing cost of pollution prevention. Despite mounting evidence supporting the advantages of using renewable energy, knowledge of how consumers in a developing country, such as Kazakhstan, perceive this environmental but considerably expensive energy source remains insufficient. This study explores this issue and applies the Bang's model, which is based on theory of reason action, to investigate the consumer knowledge mechanism on the intention to pay more for renewable energy. A partial least squares structural equation modeling (PLS-SEM) technique is employed for data analysis. Consistent PLS results show that consumers' concerns regarding renewable energy have a positive effect on their attitudes, thereby enhancing their environmental beliefs and increasing their willingness to pay more for renewable energy. Moreover, demographics determine the levels of concern for the environment and willingness to pay more for renewable energy. Implications for public policymakers and electric power company managers are provided in this study.
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