Exploring public perception and willingness to pay for a renewable source of energy: evidence from an emerging economy of renewable-energy development

Abstract

Abstract The study focuses on the transition from conventional energy sources to sustainable renewable energy (RE) in Palestine, particularly in the West Bank and Gaza Strip. The research aims to understand the relationship between key factors and residents’ willingness to invest in the RE sector, with a specific focus on the impact of education. Using the unified theory of acceptance and use of technology, the study analyzes data from 400 residents through a questionnaire and employs ordinary least-squares regression analysis with Eviews 12. The key findings indicate that residents’ inclination to invest in RE is significantly influenced by factors such as resource availability, knowledge level and power outages. Moreover, the study suggests that educated residents are more likely to invest in RE when factors such as knowledge, effort expectation, enabling conditions and resource availability are relatively high. The conclusion emphasizes the importance of policymakers’ allocating sufficient funds to research and development to promote technological innovation in RE sources, thereby enhancing the population’s energy efficiency.