Clean Technology Adoption Preferences: Integrated Analysis of Co-adoption of Electric Vehicles and Solar Panels

Abstract

Plug-in Electric Vehicles (PEVs) and solar panels are effective solutions for reducing CO2 emissions from transportation and energy generation. This study investigates California consumers' preferences for these technologies, exploring socio-demographic, external (e.g., utility rates), and attitudinal factors that influence homeowners’ decisions to adopt one, both, or neither. Using data from a comprehensive survey of California homeowners, we employ both Multinomial Logit (MNL) and Integrated Choice and Latent Variable (ICLV) models to analyze adoption decisions. The analysis identified an ‘Energy Obligation’ factor capturing personal responsibility for energy-related environmental issues, revealing that political affiliation and education influence consumers’ preferences primarily through this attitudinal factor. PEV adoption is positively correlated with higher household income, whereas solar adoption is primarily associated with utility costs. Current co-adopters are predominantly found in households with medium or lower incomes, with 40% making both decisions in the same year. The results offer valuable insights into consumer behavior to encourage the adoption of these clean energy technologies.