Lifestyles and Their Impact on Energy-Related Investment Decisions

Abstract

This paper presents an empirical survey of energy-related investment decisions made by private households in Germany. The investment behaviour is segmented and discussed by applying the milieu approach. The decision makers are clus- tered in certain lifestyles, as represented by the Sinus-Milieus® from the Sinus Institute. To analyse the relationship between the lifestyles of house owners and their energy-related investment decisions, telephone interviews were con- ducted in order to acquire data on currently installed heating systems and preferences for future heating systems in private residential buildings. The results of the survey support the hypothesis of a link between lifestyles and the en- ergy-related investment behaviour. Based on the observed relationship between lifestyles and decisions on energy technologies, predictions of energy trends in private residential buildings can be improved. In addition, the knowledge about specific development paths allows the utilisation of the information for information campaigns and the promotion of energy supply technologies which lead to lower CO2-emissions.