Transcending Consumer Roles: Evidence of Citizen Investment in Photovoltaic in China

Abstract

Community renewable energy is gaining popularity globally, and private investment in photovoltaic is considered a promising path toward energy transition. This study attempts to explore which attributes are more attractive for the public to invest in community photovoltaics, especially in the context of the increasing popularity of photovoltaics in China. Based on a conjoint experiment with urban and rural residents (N = 973), this study finds that the public values (economic, environmental, social) generated by the photovoltaic project and the project’s attributes are important factors of investment decisions. The results of the conjoint experiment confirm previous findings in the literature, particularly the positive effect of the economic value of increased local employment on citizen investment. In addition, this study finds that government regulation plays the most critical role in facilitating citizen investment. The findings can contribute to more effective photovoltaic diffusion, transcending the role of the citizen as a single consumer and achieving substantial public participation and value co-creation.