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An Investigation of Factors Affecting the Willingness to Invest in Renewables among Environmental Students: A Logistic Regression Approach


  • Evangelia Karasmanaki

    () (Department of Forestry and Management of the Environment and Natural Resources, Democritus University of Thrace, 68200 Orestiada, Greece)

  • Spyridon Galatsidas

    () (Department of Forestry and Management of the Environment and Natural Resources, Democritus University of Thrace, 68200 Orestiada, Greece)

  • Georgios Tsantopoulos

    () (Department of Forestry and Management of the Environment and Natural Resources, Democritus University of Thrace, 68200 Orestiada, Greece)


Renewable energy sources (RES) have gained increased popularity across the world mainly due to their ability to contribute to environmental protection through the generation of infinite ‘clean’ energy. To achieve a greater diffusion of renewables, however, small-scale investments implemented by individuals are critically important. In contrast to citizens whose attitudes have been consistently explored by research, there is little evidence on the attitudes towards investments among environmental students who will occupy positions of responsibility and play key roles in the environmental sector in the future. Hence, the purpose of the present study is to identify the most important factors that affect environmental students’ willingness to invest in renewable energy (RE) by developing a logistic regression model. According to our analysis, the participants in their majority expressed their willingness to invest, while environmental values, the low risk and profitability of renewable investments, as well as preferences for certain energy types were significant factors determining this willingness. However, willingness to invest was irrespective of the current taxation and subsidies, suggesting that significant improvements are required in these areas. The present study could be particularly useful for policymakers since the necessary steps to create favorable investment environments in Greece and elsewhere are highlighted.

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  • Evangelia Karasmanaki & Spyridon Galatsidas & Georgios Tsantopoulos, 2019. "An Investigation of Factors Affecting the Willingness to Invest in Renewables among Environmental Students: A Logistic Regression Approach," Sustainability, MDPI, Open Access Journal, vol. 11(18), pages 1-1, September.
  • Handle: RePEc:gam:jsusta:v:11:y:2019:i:18:p:5012-:d:266909

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    Cited by:

    1. Theodoros Anagnostopoulos & Grigorios L. Kyriakopoulos & Stamatios Ntanos & Eleni Gkika & Sofia Asonitou, 2020. "Intelligent Predictive Analytics for Sustainable Business Investment in Renewable Energy Sources," Sustainability, MDPI, Open Access Journal, vol. 12(7), pages 1-1, April.
    2. Inmaculada Guaita-Pradas & Ana Blasco-Ruiz, 2020. "Analyzing Profitability and Discount Rates for Solar PV Plants. A Spanish Case," Sustainability, MDPI, Open Access Journal, vol. 12(8), pages 1-1, April.

    More about this item


    willingness-to-invest; energy investments; renewable energy sources (RES); perceptions; attitudes; department of forestry; environmental science; university students;

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products


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