A socio-economic examination of participation in socially innovative energy projects

James Carroll; Eleanor Denny; Adam Ferris; Ivan Petrov; Hangjian Wu

doi:10.1016/j.eist.2023.100746

A socio-economic examination of participation in socially innovative energy projects

James Carroll, Eleanor Denny, Adam Ferris, Ivan Petrov^* (Corresponding Author), Hangjian Wu

^*Corresponding author for this work

Health Economics Research Unit

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

3 Downloads (Pure)

Abstract

This paper aims to examine the role of citizen investment in scaling up renewable generation through participating or investing in social innovation in energy. It presents an explorative study demonstrating results of large-scale surveys of the general public across twelve countries (11 European plus the USA), representing the views of over 10,000 individuals. These surveys focus on three types of innovative energy business models, namely: energy cooperatives, crowdfunding and peer-to-peer platforms. In particular, we study the socioeconomic, demographic and attitudinal attributes of self-reported early participants in similar energy organizations, and also separately among those who express an unwillingness to participate in the above business models. The findings suggest that factors such as age, education, gender, risk preferences, previous general investment experience and trust in the carbon saving claims of organizations are important in explaining both self-reported previous and future participation in energy initiatives.

Original language	English
Article number	100746
Number of pages	16
Journal	Environmental Innovation and Societal Transitions
Volume	48
Early online date	3 Jul 2023
DOIs	https://doi.org/10.1016/j.eist.2023.100746
Publication status	Published - 1 Sept 2023

Bibliographical note

Acknowledgements
This work was supported by the European Union's Horizon 2020 Research and Innovation Programme [grant agreement No. 837758] via the SocialRES project. The sole responsibility for the content of this study lies with the authors. It does not necessarily reflect the opinion of the European Union.

Data Availability Statement

Data availability
The data that has been used is confidential.

Keywords

Social innovation in energy (SIE)
Energy initiatives
Energy cooperatives, Energy crowdfunding
Peer-to-peer (P2P) Energy trading
Energy transition

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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Carrollo_etal_EIST_A_Socio-economic_Examination_VoR
© 2023 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
Final published version, 1.24 MBLicence: CC BY-NC-ND

Cite this

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title = "A socio-economic examination of participation in socially innovative energy projects",

abstract = "This paper aims to examine the role of citizen investment in scaling up renewable generation through participating or investing in social innovation in energy. It presents an explorative study demonstrating results of large-scale surveys of the general public across twelve countries (11 European plus the USA), representing the views of over 10,000 individuals. These surveys focus on three types of innovative energy business models, namely: energy cooperatives, crowdfunding and peer-to-peer platforms. In particular, we study the socioeconomic, demographic and attitudinal attributes of self-reported early participants in similar energy organizations, and also separately among those who express an unwillingness to participate in the above business models. The findings suggest that factors such as age, education, gender, risk preferences, previous general investment experience and trust in the carbon saving claims of organizations are important in explaining both self-reported previous and future participation in energy initiatives.",

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note = "Acknowledgements This work was supported by the European Union's Horizon 2020 Research and Innovation Programme [grant agreement No. 837758] via the SocialRES project. The sole responsibility for the content of this study lies with the authors. It does not necessarily reflect the opinion of the European Union.",

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AU - Ferris, Adam

AU - Petrov, Ivan

AU - Wu, Hangjian

N1 - Acknowledgements This work was supported by the European Union's Horizon 2020 Research and Innovation Programme [grant agreement No. 837758] via the SocialRES project. The sole responsibility for the content of this study lies with the authors. It does not necessarily reflect the opinion of the European Union.

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AB - This paper aims to examine the role of citizen investment in scaling up renewable generation through participating or investing in social innovation in energy. It presents an explorative study demonstrating results of large-scale surveys of the general public across twelve countries (11 European plus the USA), representing the views of over 10,000 individuals. These surveys focus on three types of innovative energy business models, namely: energy cooperatives, crowdfunding and peer-to-peer platforms. In particular, we study the socioeconomic, demographic and attitudinal attributes of self-reported early participants in similar energy organizations, and also separately among those who express an unwillingness to participate in the above business models. The findings suggest that factors such as age, education, gender, risk preferences, previous general investment experience and trust in the carbon saving claims of organizations are important in explaining both self-reported previous and future participation in energy initiatives.

KW - Social innovation in energy (SIE)

KW - Energy initiatives

KW - Energy cooperatives, Energy crowdfunding

KW - Peer-to-peer (P2P) Energy trading

KW - Energy transition

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JO - Environmental Innovation and Societal Transitions

JF - Environmental Innovation and Societal Transitions

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ER -

A socio-economic examination of participation in socially innovative energy projects

Abstract

Bibliographical note

Data Availability Statement

Keywords

UN SDGs

Access to Document

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Cite this