Motivation for households’ investment in photovoltaics in Czechia: An exploratory factor analysis

0580330 - SOÚ 2024 RIV NL eng J - Journal Article
Makešová, M. - Valentová, M. - Pilnáček, Matouš
Motivation for households’ investment in photovoltaics in Czechia: An exploratory factor analysis.
Energy Research & Social Science. Roč. 106, Dezember (2023), č. článku 103262. ISSN 2214-6296. E-ISSN 2214-6326
Institutional support: RVO:68378025
Keywords : Photovoltaics * Investment decision-making * Households * Czechia * Latent motivation factors
OECD category: Sociology
Impact factor: 6.7, year: 2022
Method of publishing: Open access
https://www.sciencedirect.com/science/article/pii/S2214629623003225?via%3Dihub

Photovoltaics (PV) are an integral part of the climate neutrality transition, aside from reducing fossil fuel consumption, they provide additional and impactful private and societal benefits. When purchasing PV, the decision-making of small investors is a complex process. We investigate how households decide to invest in PV on rooftops. From a sample of over 2500 respondents, we found that while personal financial benefits are the primary motivation for acquiring PV plants, other variables, such as production independence and ecological benefits were almost equally important. The factor analysis revealed four latent motivation factors that drive the decision-making: economic, technical, ecological, and surroundings. Additionally, households are not fully homogenous in their decision-making. Education, income, and age influenced the attribution of importance the respondents gave to the specific factors. Conversely, the settlement size was not a strong predictor of the decision-making. The results imply the need for diversified policy design across different groups of investors.
Permanent Link: https://hdl.handle.net/11104/0349095