EXAMINING PUBLIC APPROVAL OF RENEWABLE ENERGY SOURCES: AN ANALYSIS OF APPLICATIONS IN CONTINGENT VALUATION

• Published in: NeuroQuantology Vol. 18; no. 10; p. 36
• Main Authors: Sinha, Rajiv Ranjan, Ansari, Alauddin, Suman, Amit Kumar, Kumar, Abhijeet
• Format: Journal Article
• Language: English
• Published: Bornova Izmir NeuroQuantology 01.01.2020
• Subjects: Alternative energy sources; Ecological effects; Energy technology; Literature reviews; Petroleum products; Power sources; Renewable energy sources; Renewable resources; Valuation
• ISSN: 1303-5150
• DOI: 10.48047/nq.2020.18.10.NQ20230

The public's acceptance of renewable energy as an alternative to fossil fuels in the production of electricity is the subject of the literature review that is presented in this paper. This survey was propelled by the worldwide propensity for a replacement of ordinary powers by sustainable power sources (RES) during the worldwide monetary emergency. Through a variety of global case studies, it examines research on the preferences and attitudes of local communities regarding investments in renewable energy projects, as well as their perception of the use of new energy technologies in their daily lives. A work is made to recognize the boundaries that impact consumers0 energy conduct, along with their advantage, or deficiency in that department, in the ecological effect of utilizing petroleum products to create energy and their ability to decrease it. Utilizations of contingent valuation are inspected, which are utilized to examine public perspectives towards the utilization of RES for power creation. It has been observed that education, an interest in environmental issues, and knowledge of RES are all associated with willingness to pay. At long last, the profile of a common efficient power energy shopper and fitting strategy ways for the entrance of RES into the energy market are illustrated.