Addressing Biases that Impact Homeowners' Adoption of Solar Panels / Howard Kunreuther, Anna Polise, Quinlyn Spellmeyer.

Format:

Book

Author/Creator:

Kunreuther, Howard.

Contributor:

National Bureau of Economic Research.

Polise, Anna.

Spellmeyer, Quinlyn.

Series:

Working Paper Series (National Bureau of Economic Research) no. w28678.

NBER working paper series no. w28678

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2021.

Summary:

Solar power is now economically competitive with fossil fuels in many countries, yet relatively few homeowners have installed solar panels on their property. A principal reason for this behavior stems from cognitive biases--such as myopia, inertia and herding--that cause consumers to avoid investing in long-term measures, even those that are financially attractive to them and produce social benefits such as reducing the long-term consequences of climate change. A behavioral risk audit can demonstrate ways to address these cognitive biases, in concert with short-term economic incentives and social influences. We focus on the installation of solar panels, an issue that has relevance to residents in the United States and the European Union, and to property owned by businesses and governments.

Notes:

Print version record

April 2021.