Price and Values Impact Renewable Energy Support

Abstract

The survey comprised demographic items and measures to assess both political and values orientations. These were followed by contingent choice questions to assess participants’ support for the 50% RET at eight cost amounts. Abstract: This study investigated how projected electricity prices and personal values influence public support for a 50% renewable energy target (RET) in Australia. In an online experiment, 404 participants rated their support for a 50% RET across eight projected increases in their quarterly power bills. Multi-level modelling indicated that: (1) support for the 50% RET fell as the projected price of electricity increased, (2) although participants with low self-enhancement values and high self-transcendent values were most supportive of the 50% RET, these value-based differences disappeared as projected electricity prices increased. We discuss the implications of these findings for energy policy design and communications.