Consumer Acceptance of Renewable Energy in Peninsular Malaysia

Abstract

Renewable energy (RE) is a type of advanced technology that changes natural energy into a form that can be used as an alternative to traditional energy solutions to help reduce problems caused by global warming. Nevertheless, consumers still have limited knowledge of renewable energy, which leads to an unwillingness to pay more. Renewable energy marketing as a sustainable willingness to pay more for renewable energy billpayers in Peninsular Malaysia. This research applied the theory of reasoned action as the theoretical underpinning theory. A questionnaire survey was distributed to taxpayers, and 3209 usable responses out of 5000 persons were obtained. This paper suggested that consumers’ concerns and knowledge of renewable energy were positively related to paying a premium for renewable energy. This research showed that the energy consumption patterns influenced consumers’ willingness to pay more for renewable energy. This will benefit policymakers, in line with the Twelfth Malaysian Plan, in pursuing green technology growth and recommending the policy measure to achieve the country’s 31% and 40% renewable energy targets in 2025 and 2035, respectively.