Public willingness to pay for the research and development of solar energy in Beijing, China

Abstract

This study estimates the public willingness to pay (WTP) for the research and development of solar energy in Beijing using a contingent valuation method (CVM). To this end, this study reports the results from a CVM survey of 760 respondents. The results show that Beijing residents are willing to pay an additional CNY5.85 (USD0.86) per household per month, on average, for the research and development of solar energy in Beijing. Respondents’ educational attainment, household income, risk attitudes, and attitudinal beliefs about energy problems have significant and positive influences on their willingness-to-pay decisions, while bid values have a significantly negative effect on their willingness-to-pay decisions. The annual total WTP for the research and development of solar energy in Beijing was estimated at CNY23.78 million (USD3.71 million). Our results can provide useful and important insights for energy regulators, helping them to adjust renewable energy policies and promote the utilization of solar energy.