Willingness to pay for electric vehicles and vehicle-to-grid applications: A Nordic choice experiment

Lance Noel*, Andrea Papu Carrone, Anders Fjendbo Jensen, Gerardo Zarazua de Rubens, Johannes Kester, Benjamin K. Sovacool

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

We present the results from a choice experiment conducted across Denmark Finland, Iceland, Norway and Sweden focusing on electric vehicles and vehicle-to-grid technology. The survey involved the entire Nordic region and had >4000 respondents choosing between two versions of electric vehicles (some including vehicle-to-grid capability) as well as their preferred gasoline vehicle. We analyzed the data using a mixed logit model and present the willingness to pay for driving range, acceleration, recharging time, fuel source, and vehicle-to-grid capability. In addition, due to the cross-national nature of our data, we also present willingness-to-pay comparisons between the five Nordic countries. We find that certain attributes, like driving range and recharging time, are substantially higher than previous estimates, whereas others, like acceleration are lower. In addition, we find that some attributes vary across the five countries (such as driving range), whereas other attributes remain constant. Finally, we find that vehicle-to-grid capability, divorced of onerous contracts, is significantly positive, but only for some countries, whereas in other countries it has no value, implying greater education and awareness of vehicle-to-grid is necessary if it is to accelerate electric vehicle adoption.

Original languageEnglish
JournalEnergy Economics
Volume78
Pages (from-to)525-534
ISSN0140-9883
DOIs
Publication statusPublished - 2019

Keywords

  • Choice experiment
  • Electric mobility
  • Electric vehicles
  • Vehicle-to-grid
  • Willingness-to-pay

Cite this

Noel, Lance ; Papu Carrone, Andrea ; Jensen, Anders Fjendbo ; Zarazua de Rubens, Gerardo ; Kester, Johannes ; Sovacool, Benjamin K. / Willingness to pay for electric vehicles and vehicle-to-grid applications: A Nordic choice experiment. In: Energy Economics. 2019 ; Vol. 78. pp. 525-534.
@article{da810989345b47d79e9494f60da44086,
title = "Willingness to pay for electric vehicles and vehicle-to-grid applications: A Nordic choice experiment",
abstract = "We present the results from a choice experiment conducted across Denmark Finland, Iceland, Norway and Sweden focusing on electric vehicles and vehicle-to-grid technology. The survey involved the entire Nordic region and had >4000 respondents choosing between two versions of electric vehicles (some including vehicle-to-grid capability) as well as their preferred gasoline vehicle. We analyzed the data using a mixed logit model and present the willingness to pay for driving range, acceleration, recharging time, fuel source, and vehicle-to-grid capability. In addition, due to the cross-national nature of our data, we also present willingness-to-pay comparisons between the five Nordic countries. We find that certain attributes, like driving range and recharging time, are substantially higher than previous estimates, whereas others, like acceleration are lower. In addition, we find that some attributes vary across the five countries (such as driving range), whereas other attributes remain constant. Finally, we find that vehicle-to-grid capability, divorced of onerous contracts, is significantly positive, but only for some countries, whereas in other countries it has no value, implying greater education and awareness of vehicle-to-grid is necessary if it is to accelerate electric vehicle adoption.",
keywords = "Choice experiment, Electric mobility, Electric vehicles, Vehicle-to-grid, Willingness-to-pay",
author = "Lance Noel and {Papu Carrone}, Andrea and Jensen, {Anders Fjendbo} and {Zarazua de Rubens}, Gerardo and Johannes Kester and Sovacool, {Benjamin K.}",
year = "2019",
doi = "10.1016/j.eneco.2018.12.014",
language = "English",
volume = "78",
pages = "525--534",
journal = "Energy Economics",
issn = "0140-9883",
publisher = "Elsevier",

}

Willingness to pay for electric vehicles and vehicle-to-grid applications: A Nordic choice experiment. / Noel, Lance; Papu Carrone, Andrea; Jensen, Anders Fjendbo; Zarazua de Rubens, Gerardo; Kester, Johannes; Sovacool, Benjamin K.

In: Energy Economics, Vol. 78, 2019, p. 525-534.

Research output: Contribution to journalJournal articleResearchpeer-review

TY - JOUR

T1 - Willingness to pay for electric vehicles and vehicle-to-grid applications: A Nordic choice experiment

AU - Noel, Lance

AU - Papu Carrone, Andrea

AU - Jensen, Anders Fjendbo

AU - Zarazua de Rubens, Gerardo

AU - Kester, Johannes

AU - Sovacool, Benjamin K.

PY - 2019

Y1 - 2019

N2 - We present the results from a choice experiment conducted across Denmark Finland, Iceland, Norway and Sweden focusing on electric vehicles and vehicle-to-grid technology. The survey involved the entire Nordic region and had >4000 respondents choosing between two versions of electric vehicles (some including vehicle-to-grid capability) as well as their preferred gasoline vehicle. We analyzed the data using a mixed logit model and present the willingness to pay for driving range, acceleration, recharging time, fuel source, and vehicle-to-grid capability. In addition, due to the cross-national nature of our data, we also present willingness-to-pay comparisons between the five Nordic countries. We find that certain attributes, like driving range and recharging time, are substantially higher than previous estimates, whereas others, like acceleration are lower. In addition, we find that some attributes vary across the five countries (such as driving range), whereas other attributes remain constant. Finally, we find that vehicle-to-grid capability, divorced of onerous contracts, is significantly positive, but only for some countries, whereas in other countries it has no value, implying greater education and awareness of vehicle-to-grid is necessary if it is to accelerate electric vehicle adoption.

AB - We present the results from a choice experiment conducted across Denmark Finland, Iceland, Norway and Sweden focusing on electric vehicles and vehicle-to-grid technology. The survey involved the entire Nordic region and had >4000 respondents choosing between two versions of electric vehicles (some including vehicle-to-grid capability) as well as their preferred gasoline vehicle. We analyzed the data using a mixed logit model and present the willingness to pay for driving range, acceleration, recharging time, fuel source, and vehicle-to-grid capability. In addition, due to the cross-national nature of our data, we also present willingness-to-pay comparisons between the five Nordic countries. We find that certain attributes, like driving range and recharging time, are substantially higher than previous estimates, whereas others, like acceleration are lower. In addition, we find that some attributes vary across the five countries (such as driving range), whereas other attributes remain constant. Finally, we find that vehicle-to-grid capability, divorced of onerous contracts, is significantly positive, but only for some countries, whereas in other countries it has no value, implying greater education and awareness of vehicle-to-grid is necessary if it is to accelerate electric vehicle adoption.

KW - Choice experiment

KW - Electric mobility

KW - Electric vehicles

KW - Vehicle-to-grid

KW - Willingness-to-pay

U2 - 10.1016/j.eneco.2018.12.014

DO - 10.1016/j.eneco.2018.12.014

M3 - Journal article

VL - 78

SP - 525

EP - 534

JO - Energy Economics

JF - Energy Economics

SN - 0140-9883

ER -