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Integrated Theoretical Framework for a Homeowner's Decision in Favor of an Innovative Residential Heating System

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Abstract

Insight into the homeowner’s adoption decisions in favor of a specific innovative residential heating system (RHS) helps us to understand and assess the dynamics of the adoption and diffusion of such technological systems as a “social” phenomenon. This phenomenon emerges from the individual decisions of a set of heterogeneous actors on the market. In our research, we develop an integrated theoretical framework for assessing a homeowner’s adoption decision in favor of a specific innovative RHS. Taking the theory of planned behavior (TPB) (Ajzen, 1991) and the perceived characteristics of innovations (PCI) (Moore and Benbasat, 1991) as a starting point, we propose a framework that explicitly accounts for external factors (esp. economic aspects) and personal-sphere determinants. This allows us to gain a deeper understanding of the role of a homeowner’s personal-sphere as well as of the influence of perceived economic and other external factors on the RHS adoption process. We motivate our research with background on the case of Germany. Our theoretical framework can serve as a basis for empirically researching homeowners’ adoption decisions in favor of a specific RHS and for developing a conceptual multi-agent simulation model for investigating the diffusion of RHS.

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  • Michelsen, Carl Christian & Madlener, Reinhard, 2010. "Integrated Theoretical Framework for a Homeowner's Decision in Favor of an Innovative Residential Heating System," FCN Working Papers 2/2010, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    • Handle: RePEc:ris:fcnwpa:2010_002
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    Citations

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    Cited by:

    1. Dergiades, Theologos & Madlener, Reinhard & Christofidou, Georgia, 2018. "The nexus between natural gas spot and futures prices at NYMEX: Do weather shocks and non-linear causality in low frequencies matter?," The Journal of Economic Asymmetries, Elsevier, vol. 18(C), pages 1-1.
    2. Ashwini K. Aggarwal & Asif Ali Syed & Sandeep Garg, 2021. "Diffusion of RT Solar PV in Suburbs of Delhi/NCR, India: Triggers of Architect Recommendation Intent," Vision, , vol. 25(3), pages 285-299, September.
    3. Bernstein, Ronald & Madlener, Reinhard, 2011. "Responsiveness of Residential Electricity Demand in OECD Countries: A Panel Cointegation and Causality Analysis," FCN Working Papers 8/2011, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    4. Michelsen, Carl Christian & Madlener, Reinhard, 2011. "Homeowners' Preferences for Adopting Residential Heating Systems: A Discrete Choice Analysis for Germany," FCN Working Papers 9/2011, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    5. Rohlfs, Wilko & Madlener, Reinhard, 2013. "Challenges in the Evaluation of Ultra-Long-Lived Projects: Risk Premia for Projects with Eternal Returns or Costs," FCN Working Papers 13/2013, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    6. Harmsen - van Hout, Marjolein & Ghosh, Gaurav & Madlener, Reinhard, 2013. "The Impact of Green Framing on Consumers’ Valuations of Energy-Saving Measures," FCN Working Papers 7/2013, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    7. Michelsen, Carl Christian & Madlener, Reinhard, 2012. "Homeowners' preferences for adopting innovative residential heating systems: A discrete choice analysis for Germany," Energy Economics, Elsevier, vol. 34(5), pages 1271-1283.
    8. Rohlfs, Wilko & Madlener, Reinhard, 2011. "Multi-Commodity Real Options Analysis of Power Plant Investments: Discounting Endogenous Risk Structures," FCN Working Papers 22/2011, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    9. Harmsen - van Hout, Marjolein & Ghosh, Gaurav & Madlener, Reinhard, 2013. "An Evaluation of Attribute Anchoring Bias in a Choice Experimental Setting," FCN Working Papers 6/2013, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    10. Kraas, Birk & Schroedter-Homscheidt, Marion & Pulvermüller, Benedikt & Madlener, Reinhard, 2011. "Economic Assessment of a Concentrating Solar Power Forecasting System for Participation in the Spanish Electricity Market," FCN Working Papers 12/2011, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    11. Isabel Haase & Herena Torio, 2021. "The Impact of the Climate Action Programme 2030 and Federal State Measures on the Uptake of Renewable Heating Systems in Lower Saxony’s Building Stock," Energies, MDPI, vol. 14(9), pages 1-25, April.
    12. Charlotte Senkpiel & Audrey Dobbins & Christina Kockel & Jan Steinbach & Ulrich Fahl & Farina Wille & Joachim Globisch & Sandra Wassermann & Bert Droste-Franke & Wolfgang Hauser & Claudia Hofer & Lars, 2020. "Integrating Methods and Empirical Findings from Social and Behavioural Sciences into Energy System Models—Motivation and Possible Approaches," Energies, MDPI, vol. 13(18), pages 1-30, September.

    More about this item

    Keywords

    Technological adoption; consumer behavior; economic psychology; residential heating systems;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • R22 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other Demand

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