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Comparing Individual and Social Financial Motivations in Energy Conservation - Assignment Example

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The purpose of the article is to present research findings on the effects of financial incentives on energy conservation. The researcher carried out the study on domestic electricity consumers in Stanford. The researchers were testing the impacts of financial incentive on…
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Comparing Individual and Social Financial Motivations in Energy Conservation
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Download file to see previous pages This enabled them to draw the hypothesis for the study. Firstly, the researchers assumed that social norms are a major determinant on energy conservation. Secondly, the researchers assumed that financial incentive enhances energy conservation.
2. The sample size to this survey was homeowners whose email information was in the custody of homeowner’s association president. The participants or population sample to this study was selected from homeowners who responded to an email invitation from the homeowner’s association president. Data obtained from electricity supplying company provided a control to the study. This data provided the researchers with more accurate information on electricity consumption for each household than data obtained from smart meters. The study involved establishing the effects of motivation on energy consumption. The research also intended to establish the relationship between household’s total income and energy consumption. In addition, research wanted to measure the effects of incentives on different social classes.
3. The data was analyzed by first placing the respondents in to three categories according to their consumption capacities. This enabled the researchers to draw the mean and other measures of central tendency. The researcher also used a pie chart to represent their research findings.
4. From the study, it was established that financial incentives had an effect on the attitude of the respondent towards energy conservation. It was also established that social class influenced the effects of incentives on the respondent. Social classes were established by the level of electricity consumption in each household. High consumers or individuals with high financial capabilities responded positively to financial incentive. However, they were adamant to giving out personal information concerning energy consumption (Vezich 49). It was also established that low consumers responded more effectively to financial ...Download file to see next pagesRead More
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