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 language | English |
|---|---|
| Title of host publication | 2018 IEEE Power and Energy Society General Meeting, PESGM 2018 |
| Publisher | IEEE Computer Society |
| Volume | 2018-August |
| ISBN (Electronic) | 9781538677032 |
| DOIs | |
| Publication status | Published - 2018 Dec 21 |
| Event | 2018 IEEE Power and Energy Society General Meeting, PESGM 2018 - Portland, United States Duration: 2018 Aug 5 → 2018 Aug 10 |
Other
| Other | 2018 IEEE Power and Energy Society General Meeting, PESGM 2018 |
|---|---|
| Country | United States |
| City | Portland |
| Period | 18/8/5 → 18/8/10 |
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ASJC Scopus subject areas
- Energy Engineering and Power Technology
- Nuclear Energy and Engineering
- Renewable Energy, Sustainability and the Environment
- Electrical and Electronic Engineering
Cite this
Willingness to Pay for Home Energy Management System : A Cross-Country Comparison. / Xu, Xiaojing; Chen, Chien Fei; Washizu, Ayu; Ishii, Hideo; Yashiro, Hayashi.
2018 IEEE Power and Energy Society General Meeting, PESGM 2018. Vol. 2018-August IEEE Computer Society, 2018. 8586275.Research output: Chapter in Book/Report/Conference proceeding › Conference contribution
}
TY - GEN
T1 - Willingness to Pay for Home Energy Management System
T2 - A Cross-Country Comparison
AU - Xu, Xiaojing
AU - Chen, Chien Fei
AU - Washizu, Ayu
AU - Ishii, Hideo
AU - Yashiro, Hayashi
PY - 2018/12/21
Y1 - 2018/12/21
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=85060797124&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85060797124&partnerID=8YFLogxK
U2 - 10.1109/PESGM.2018.8586275
DO - 10.1109/PESGM.2018.8586275
M3 - Conference contribution
AN - SCOPUS:85060797124
VL - 2018-August
BT - 2018 IEEE Power and Energy Society General Meeting, PESGM 2018
PB - IEEE Computer Society
ER -