Energy efficiency and heating technology investments: Manipulating financial information in a discrete choice experiment

• Homeowners value energy efficiency beyond expected heating cost savings. They have strongly heterogeneous preferences for different technologies. Fossil fuel users are not willing to pay required premiums low-carbon options. Targeted subsidies combined with information can help phasing out fossil fuels. We elicit homeowners’ willingness (WTP) and technologies in the context of appliance replacement. employ a within-between subject design that involves manipulating two-stage discrete choice experiment (DCE) use WTP space estimation identify role financial reducing use. find average valuation exceeds associated savings, suggesting they also consider non-monetary benefits when evaluating this type investment, whereas about private pro-social investments only has limited impact on WTP. Evidence suggests homeowners strong preference existing technology. Consequently, users’ switching does cover respective investment differentials, we derive evidence how induce these opt