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Preferences for and potential impacts of financial incentives to install residential rooftop solar photovoltaic systems in Australia

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Shifting the production of energy from fossil fuels to renewable resources contributes towards the
reduction of greenhouse gas emissions needed for climate change mitigation. Many countries, including
Australia, have had generous financial incentives in place to support households to adopt renewable
energy technologies, such as rooftop photovoltaic solar panels. Given the increasing reductions in, and
eventually a shift, from subsidies to market-based mechanisms the trend of new solar panel adoption is
unclear. Solar power is a particularly relevant climate change mitigation technology in Australia given the
country's high insolation rates. Australia has one of the highest rates of residential solar adoption in the
world with 20% of households having solar panels. This study uses Australia as a case study because of
the range of incentives available and the potential impacts of changes in incentive policies which are
already under way. To determine preferences for changes in incentives and to predict consumer choices
for adopting solar panels under future policy changes, a choice model was applied. Results showed that
about two-thirds of the respondents would be willing to install a photovoltaic system. Installation costs
had the greatest influence on choice of a photovoltaic system, followed by a 10-year and a 5-year
guarantee of being able to sell excess solar power to retailers, and a high feed-in-tariff. Being able to
access an interest free loan did not affect respondents' choices, and up-front rebates were preferred to be
at least AUD 4000. Income, education, knowledge about Australia's renewable energy polices and
believing in environmental benefits of solar energy all positively influenced the willingness to install a
photovoltaic system while age had a negative effect. Preferences for financial incentives varied significantly
across respondents. About a third of respondents were sufficiently sensitive to costs and incentives
that a substantial cut in subsidies would probably dissuade them from installing a photovoltaic system.
Younger people and those knowledgeable about renewable energy policies preferred low installation
costs but were not motivated by incentives. Factors likely to influence their decision-making included
their level of electricity consumption, rising electricity prices and decreasing costs for storage systems,
and they may conclude that solar photovoltaic systems pay off even without government subsidies,
which are gradually being phased out.

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Ketersediaan

EJ20183

My Library

Tersedia

Informasi Detil

Judul Seri

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No. Panggil

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Penerbit

Elsevier Ltd. : ., 2019

Deskripsi Fisik

11 p.

Bahasa

English

ISBN/ISSN

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Klasifikasi

NONE

Tipe Isi

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Tipe Media

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Tipe Pembawa

online resource

Edisi

Journal of Cleaner Production 230 (2019) 328e338

Subyek

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Info Detil Spesifik

Ejurnal

Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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