Willingness to Pay for Home Energy Management System: A Cross-Country Comparison

Xiaojing Xu, Chien Fei Chen, Ayu Washizu, Hideo Ishii, Hayashi Yashiro

Research output: Chapter in Book/Report/Conference proceedingConference contribution

2 Citations (Scopus)

Abstract

Home Energy Management System (HEMS) is a technology that can increase residential energy efficiency and demand flexibility, which in turn improves power grid reliability and renewable energy penetration. This research investigates residents' willingness to pay (WTP) for HEMS in New York and Tokyo, and how demographic and socio-psychological variables derived from Theory of Planned Behavior, Technology Acceptance Model and empirical evidence affect WTP. Bootstrapped regression analyses with 5000 resamples showed that attitude towards HEMS, social norms, and cost concerns affected WTP in both cities; perceived usefulness increased WTP in Tokyo; gender, age, income, trust in utilities and dependency concern affected WTP in New York. The results suggest the need to enhance social norms and alleviate cost concerns in promoting HEMS. Moreover, while educational campaigns about the usefulness of HEMS may help in Tokyo, targeting specific customer segments and cultivating trust in utility companies may be more effective in New York.

Original languageEnglish
Title of host publication2018 IEEE Power and Energy Society General Meeting, PESGM 2018
PublisherIEEE Computer Society
ISBN (Electronic)9781538677032
DOIs
Publication statusPublished - 2018 Dec 21
Event2018 IEEE Power and Energy Society General Meeting, PESGM 2018 - Portland, United States
Duration: 2018 Aug 52018 Aug 10

Publication series

NameIEEE Power and Energy Society General Meeting
Volume2018-August
ISSN (Print)1944-9925
ISSN (Electronic)1944-9933

Other

Other2018 IEEE Power and Energy Society General Meeting, PESGM 2018
CountryUnited States
CityPortland
Period18/8/518/8/10

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Nuclear Energy and Engineering
  • Renewable Energy, Sustainability and the Environment
  • Electrical and Electronic Engineering

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  • Cite this

    Xu, X., Chen, C. F., Washizu, A., Ishii, H., & Yashiro, H. (2018). Willingness to Pay for Home Energy Management System: A Cross-Country Comparison. In 2018 IEEE Power and Energy Society General Meeting, PESGM 2018 [8586275] (IEEE Power and Energy Society General Meeting; Vol. 2018-August). IEEE Computer Society. https://doi.org/10.1109/PESGM.2018.8586275