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Lookup NU author(s): Dr Francisco ArealORCiD
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The increased concern for the impacts of climate change on the environment, along with the growing industry of renewable energy sources, and especially wind power, has made the valuation of environmental services and goods of great significance. Offshore wind energy is being exploited exponentially and its importance for renewable energy generation is increasing. We apply a double-bound dichotomous Contingent Valuation Method analysis in order to both (a) estimating the willingness to pay (WTP) of Greek residents for green electricity produced by offshore wind farm located between the islands of Tinos and Andros and (b) identifying factors behind respondents׳ WTP including individual׳s behaviour toward environment and individual׳s views on climate change and renewable energy. A total of 141 respondents participated in the questionnaire. Results show that the respondents are willing to pay on average 20€ every two months through their electricity bill in return for carbon-free electricity and water saving from the wind farm. Respondents׳ environmental consciousness and their perception towards climate change and renewable energy have a positive effect on their WTP
Author(s): Georgiou I, Areal FJ
Publication type: Article
Publication status: Published
Journal: Renewable and Sustainable Energy Reviews
Year: 2015
Volume: 52
Pages: 717-724
Print publication date: 01/12/2015
Online publication date: 25/08/2015
Acceptance date: 29/07/2015
ISSN (print): 1364-0321
ISSN (electronic): 1879-0690
Publisher: Pergamon Press
URL: https://doi.org/10.1016/j.rser.2015.07.178
DOI: 10.1016/j.rser.2015.07.178
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