Why Are Households Willing to Pay for Renewable Energy? Lessons From Romania

Renewable energy is seen as a key tool in addressing the dual issue of increasing demand and climate change mitigation. In current geopolitical climate, it may also play long-term role security. order to reach ambitious green targets set for each European Union member state public support fiscal other mechanisms required. The purpose this paper determine what extent population North-East region Romania willing make financial sacrifices further development renewable energy. We explore lifestyle socio-demographic factors influence willingness pay. applied discrete choice experiment on sample 602 households from populous Romania. Our results show that creation new jobs increase national independence, followed by reduction pollution are societal benefits would convince pay premium development. Increased local budgets rural communities resulting taxation companies not one desired outcomes study useful design adequate policies serves identifying factors, well demonstrating market segmentation procedure.