Honors Theses and Capstones

Date of Award

Spring 2021

Project Type

Senior Honors Thesis

College or School

PAUL

Program or Major

Analytical Economics

Degree Name

Bachelor of Science

First Advisor

Ju-Chin Huang

Abstract

Creating a cleaner energy grid has become a hot topic over the past 20 years, as the effects of fossil fuels on our planet has become clearer. The solar market in the US has exploded over the past 10 years, with an average annual growth rate of about 42% (Solar Industry Research Data, 2020). Choice experiments are often conducted to better understand consumers preferences towards products or characteristics of products. In this study, data of a choice experiment in a survey of residents in Boston and Atlanta regarding preferences for attributes of household solar energy collecting system are analyzed. The results of data analysis give us a better understanding as to what consumers in Boston and Atlanta value in a solar photovoltaic or hot water system, and to estimate what they are willing to pay (WTP) for these systems, and upgrades in attributes/features of these systems.

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