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

Journal article

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.

Authors: Carroll, J; Denny, E; Ferris, A; Petrov, I; Wu, H

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Elsevier
• Journal: Environmental Innovation and Societal Transitions
• Volume: 48
• Article number: 100746
• Publication date: 2023-07-03
• Acceptance date: 2023-06-05
• DOI: 10.1016/j.eist.2023.100746
• EISSN: 2210-4232
• ISSN: 2210-4224
• Language: English
• Keywords: social innovation in energy (SIE); energy initiatives; energy cooperatives; energy crowdfunding; peer-to-peer (P2P); energy trading; energy transition