Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas
The study aims to investigate consumers’ willingness to pay for the development of renewable energy to encourage renewable energy consumption in the long run. This study further identifies the factors that influence consumers’ willingness to pay for renewable energy. A face-to-face questionnaire, wi...
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| Format: | Article |
| Language: | en |
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Penerbit Universiti Kebangsaan Malaysia
2022
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| Online Access: | http://journalarticle.ukm.my/19400/1/jeko_561-5.pdf http://journalarticle.ukm.my/19400/ https://www.ukm.my/jem/issue/v56i1/ |
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| author | A.A. Azlina, Shahida Abu Bakar, Mahirah Kamaludin, Awang Noor Ghani, |
| author_facet | A.A. Azlina, Shahida Abu Bakar, Mahirah Kamaludin, Awang Noor Ghani, |
| author_sort | A.A. Azlina, |
| building | Tun Sri Lanang Library |
| collection | Institutional Repository |
| content_provider | Universiti Kebangsaan Malaysia |
| content_source | UKM Journal Article Repository |
| continent | Asia |
| country | Malaysia |
| description | The study aims to investigate consumers’ willingness to pay for the development of renewable energy to encourage renewable energy consumption in the long run. This study further identifies the factors that influence consumers’ willingness to pay for renewable energy. A face-to-face questionnaire, with a contingent valuation method was administered to 672 residential electricity users in the East Coast of Peninsular Malaysia, areas that have high wind and wave energy potentials with large hydropower. The findings show that the average consumers’ willingness to pay is about RM 4.90 or about USD 1.18 per month on electricity bills as a contribution to a Renewable Energy Fund. The results further show that the consumers’ willingness to pay for renewable energy is significantly influenced by the proposed bid price, income, confidence level and education. The findings may help the government in creating a useful framework to ensure sustainable development in the future. |
| format | Article |
| id | my-ukm.journal.19400 |
| institution | Universiti Kebangsaan Malaysia |
| language | en |
| publishDate | 2022 |
| publisher | Penerbit Universiti Kebangsaan Malaysia |
| record_format | eprints |
| spelling | my-ukm.journal.194002022-08-18T07:16:18Z http://journalarticle.ukm.my/19400/ Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas A.A. Azlina, Shahida Abu Bakar, Mahirah Kamaludin, Awang Noor Ghani, The study aims to investigate consumers’ willingness to pay for the development of renewable energy to encourage renewable energy consumption in the long run. This study further identifies the factors that influence consumers’ willingness to pay for renewable energy. A face-to-face questionnaire, with a contingent valuation method was administered to 672 residential electricity users in the East Coast of Peninsular Malaysia, areas that have high wind and wave energy potentials with large hydropower. The findings show that the average consumers’ willingness to pay is about RM 4.90 or about USD 1.18 per month on electricity bills as a contribution to a Renewable Energy Fund. The results further show that the consumers’ willingness to pay for renewable energy is significantly influenced by the proposed bid price, income, confidence level and education. The findings may help the government in creating a useful framework to ensure sustainable development in the future. Penerbit Universiti Kebangsaan Malaysia 2022 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/19400/1/jeko_561-5.pdf A.A. Azlina, and Shahida Abu Bakar, and Mahirah Kamaludin, and Awang Noor Ghani, (2022) Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas. Jurnal Ekonomi Malaysia, 56 (1). pp. 59-70. ISSN 0127-1962 https://www.ukm.my/jem/issue/v56i1/ |
| spellingShingle | A.A. Azlina, Shahida Abu Bakar, Mahirah Kamaludin, Awang Noor Ghani, Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas |
| title | Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas |
| title_full | Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas |
| title_fullStr | Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas |
| title_full_unstemmed | Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas |
| title_short | Willingness to pay for renewable energy : evidence from high wind and wave energy potential areas |
| title_sort | willingness to pay for renewable energy : evidence from high wind and wave energy potential areas |
| url | http://journalarticle.ukm.my/19400/1/jeko_561-5.pdf http://journalarticle.ukm.my/19400/ https://www.ukm.my/jem/issue/v56i1/ |
| url_provider | http://journalarticle.ukm.my/ |