Public Willingness to Pay and Policy Preferences for Tidal Energy Research and Development

A Study of Households in Washington State

Hilary Jacqueline Polis, Stacia Dreyer, Lekelia Jenkins

Research output: Contribution to journalArticle

6 Citations (Scopus)

Abstract

Puget Sound in Washington State (WA) has significant tidal energy resources, but the industry is at a nascent stage of development. At this stage, the availability of research and development (R&D) funding plays a critical role in the success or failure of renewable energy schemes. However, information about public interest in developing marine renewable energy technology, including tidal energy technology, in WA and the U.S. has been limited. Responses to a dichotomous choice referendum question on a mail survey sent to a representative sample of WA households were used to estimate residents' Willingness to Pay (WTP) for tidal energy R&D. Public preferences for policies to support tidal energy R&D were also assessed. WA households are WTP between $29M and $127M annually for tidal energy R&D, indicating public preference for an increase in government spending on tidal energy R&D over current levels. Public perceptions of potential social, environmental, and economic risks and benefits of developing tidal energy emerged as highly significant predictors of WTP.

Original languageEnglish (US)
Pages (from-to)213-225
Number of pages13
JournalEcological Economics
Volume136
DOIs
StatePublished - Jun 1 2017

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willingness to pay
research and development
energy
referendum
energy resource
policy
household
public
Energy
Willingness-to-pay
Household
industry
economics
Energy technology
Public preferences
Renewable energy

Keywords

  • Contingent valuation
  • Renewable energy
  • Research and development (R&D)
  • Tidal energy
  • Willingness to pay

ASJC Scopus subject areas

  • Environmental Science(all)
  • Economics and Econometrics

Cite this

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title = "Public Willingness to Pay and Policy Preferences for Tidal Energy Research and Development: A Study of Households in Washington State",
abstract = "Puget Sound in Washington State (WA) has significant tidal energy resources, but the industry is at a nascent stage of development. At this stage, the availability of research and development (R&D) funding plays a critical role in the success or failure of renewable energy schemes. However, information about public interest in developing marine renewable energy technology, including tidal energy technology, in WA and the U.S. has been limited. Responses to a dichotomous choice referendum question on a mail survey sent to a representative sample of WA households were used to estimate residents' Willingness to Pay (WTP) for tidal energy R&D. Public preferences for policies to support tidal energy R&D were also assessed. WA households are WTP between $29M and $127M annually for tidal energy R&D, indicating public preference for an increase in government spending on tidal energy R&D over current levels. Public perceptions of potential social, environmental, and economic risks and benefits of developing tidal energy emerged as highly significant predictors of WTP.",
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N2 - Puget Sound in Washington State (WA) has significant tidal energy resources, but the industry is at a nascent stage of development. At this stage, the availability of research and development (R&D) funding plays a critical role in the success or failure of renewable energy schemes. However, information about public interest in developing marine renewable energy technology, including tidal energy technology, in WA and the U.S. has been limited. Responses to a dichotomous choice referendum question on a mail survey sent to a representative sample of WA households were used to estimate residents' Willingness to Pay (WTP) for tidal energy R&D. Public preferences for policies to support tidal energy R&D were also assessed. WA households are WTP between $29M and $127M annually for tidal energy R&D, indicating public preference for an increase in government spending on tidal energy R&D over current levels. Public perceptions of potential social, environmental, and economic risks and benefits of developing tidal energy emerged as highly significant predictors of WTP.

AB - Puget Sound in Washington State (WA) has significant tidal energy resources, but the industry is at a nascent stage of development. At this stage, the availability of research and development (R&D) funding plays a critical role in the success or failure of renewable energy schemes. However, information about public interest in developing marine renewable energy technology, including tidal energy technology, in WA and the U.S. has been limited. Responses to a dichotomous choice referendum question on a mail survey sent to a representative sample of WA households were used to estimate residents' Willingness to Pay (WTP) for tidal energy R&D. Public preferences for policies to support tidal energy R&D were also assessed. WA households are WTP between $29M and $127M annually for tidal energy R&D, indicating public preference for an increase in government spending on tidal energy R&D over current levels. Public perceptions of potential social, environmental, and economic risks and benefits of developing tidal energy emerged as highly significant predictors of WTP.

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