Willingess to pay for green energy: An agent-based model in NetLogo platform

Abstract

In the paper the consumers' willingness to pay (WTP) for green energy is discussed. Based on the literature review and the findings from the pilot study a simple agent-based model in Netlogo is created to examine the development of the WTP towards renewables (RES) among consumers. The model shows that to increase positive appraisal of green energy and hence encourage consumers to support the development of RES, some external incentives are necessary. Hence, promoting advantages of renewables and making consumers more familiar with them, as well as offering some financial support may play a great role.