Solar Energy Adoption: Where Economics and Psychology Meet

Abstract

We have a problem. We have polluted and destroyed our earth to a dangerous degree and are continuing to do so despite our knowledge of the potential fallout if we continue on this path. Lucky for us, we also have a solution in the form of renewable and clean energy sources such as solar energy. Alas, we as a society are unable to agree on and use this amazing solution to the problem for a multitude of reasons which leads to the question proposed by this project. This project aims to answer the question of 'how has America used incentives to encourage or discourage solar panel installation on private homes.' The results of this project indicate that although we provide a multitude of incentives for the consumer to switch over to this cleaner energy type, not all of them work well, if at all. The research conclusively shows over and over that we need to look into making the incentives more appealing psychologically. A great thing about the results this project produced is that they also show that there is strong interest and desire to make this beneficial change if only it could be made more affordable and feasible for the general consumer.