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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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Comparing Individual and Social Financial Motivations in Energy Conservation 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 energy conservation. Project’s researchers also wanted to establish the relationship between energy conservation and the social class of the respondent. Before embarking on the research project, the researchers had the questions of response towards financial incentive by different respondents. 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 incentives than high consumers. High consumers responded to calls for energy conservation as a social responsibility and not because of personal interests. Space heating was found to be the main energy consumer while refrigeration and cooling had the lowest rates of consumption. It was also established advertising or social education through the media could greatly influence the population towards energy conservation.
5. The author is supportive to the research findings and the research methodology used to conduct the study. However, the researcher feels that the study was not conclusive because it did not have a control for seasonal energy demand fluctuations and family size. The author believed that energy consumption was a good indicator of a person’s financial background and not an indicator of social status. The author linked the response to financial incentives on energy consumption to social responsibility rather than personal financial interests. The author related high electricity consumption to consumer’s financial capabilities. According to the author, financial incentives are not sufficient to high-energy consumers.
Works Cited
Vezich, Stephanie. Community green: Comparing individual and social financial
motivation in energy conservation. Stanford Undergraduate Research Journal, Volume 9, 47-52. 2010. Web. Read More
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