Research on Capital Endowment, Energy Cognition and Willingness to Pay for Green Energy Consumption of Urban and Rural Residents in China

The willingness to pay (WTP) for green energy consumption not only indicates the public’s green energy consumption practices, but also affects the realization of China’s “dual carbon” goals and global green development. Based on data from the 2018 Chinese General Social Survey (CGSS), this study describes the WTP for green energy consumption of Chinese urban and rural residents in the context of “dual carbon”. Moreover, it provides an in-depth interpretation from the perspectives of capital endowment and energy cognition, guided by social practice theory (SPT). This study found that, firstly, the public’s WTP for green energy consumption needs to be strengthened urgently, and the percentage of the refusal to participate group reaches 41.44%, and shows significant urban–rural differences. Compared with rural residents, the proportion and amount of WTP for urban residents are 7.5% and 4.016 CNY/month higher, respectively. Secondly, capital endowment and energy cognition are important influencing factors. Among them, economic capital (β = 0.647, p < 0.01) and cultural capital (β = 0.358, p < 0.05) play a significant role for urban residents, while rural residents depend on the government support cognition of energy (β = 7.678, p < 0.001). Finally, the urban–rural divergence in WTP for green energy consumption mainly stems from the gap in capital endowment, which contributes 29.08%, significantly higher than the contribution of energy cognition (8.34%). Therefore, efforts should be made to enhance the capital endowment levels of urban and rural residents, implement a targeted energy knowledge dissemination system, build a comprehensive government support system, and break down institutional barriers through urban–rural integration to guard against the disadvantages of rural residents.