Willingness to pay for the preservation of geothermal areas in Iceland – The contingent valuation studies of Eldvörp and Hverahlíð

A Review of Willingness to Pay Studies for Climate Change Mitigation in the Energy Sector

“…There are very few studies dealing with WTP for geothermal energy [106]. It can be linked with insignificant promotion schemes for geothermal energy.…”

“…Back in 2010 researchers [99] provided all RES technologies will have an increasingly important role to play in the nearest future, as they provide a great potential to contribute to the reduction of GHG emissions, ease fossil fuel dependency and stabilize energy costs. Microgeneration technologies in particular have the potential to contribute favourably to energy supply [106], furthermore-it could fundamentally change the relationship between energy companies and consumers [107] by literally turning the system upside down: as at least partial shift would be performed from an electricity system based on central power stations (like nuclear, coal or big natural gas-based power plants) to small-scale power generation at the domestic level [80]. In that case, consumers would become energy suppliers in their own right, however, a pre-condition for this change is the diffusion of microgeneration technologies into the market which will depend on consumers' acceptance of microgeneration technologies [107], i.e., their willingness to pay for RES technologies in their households.…”

“…It is necessary to stress that understanding of consumer' preferences and WTP for renewable energy technology, thus microgeneration technology, becomes even more important because of additional energy markets open for competition and public policy continues to explore further introduction of RES into energy generation mix [78]. Microgeneration still is the growing trend and public opinion towards it is crucial (that has been emphasized by Sauter and Watson [100], Allen, et al [106], Van der Veen et al [101], Willis et al [82], Sardianou and Genoudi [109]-after all, balancing market depends on the behavior of market participants [101].…”

The Farmer’s Willingness to Preserve Rice Farming in Suburban Areas in Sleman Regency Yogyakarta, Indonesia

“…One valuation technique is to calculate the value of willingness to pay (WTP) of the community towards environmental benefits that can be enjoyed. Research on the assessment of green open space with WTP analysis was carried out by Dahal et al (2018) and Cook et al (2018), whereas Song et al (2015) examined the relationship between motivation and willingness to conserve urban green space.…”

“…Kragt et al (2016) estimated community values to mitigate climate change and the benefits of carbon farming / reduce greenhouse gas emissions. Cook et al (2018) estimated willingness to pay for environmental preservation associated with a power plant project.…”