Too old for a circular solar economy? Age dynamics in the acceptance of solar and circular value propositions

Abstract

Population ageing and the sustainable energy transition are significant transformations of the twenty-first century. In this paper, we use household survey data to assess the interplay between age, the adoption of solar photovoltaics (PV), and interest in circular value propositions. Circular business models may mitigate the upcoming PV waste stream while enabling access to renewables. As a sustainable transition towards a circular economy and society requires the participation of all groups in society, this work contributes to understanding age-related dynamics in customer acceptance of solar and circular value propositions. We apply Tobit, logit, and multinomial logit regressions, controlling for covariates that have been identified as important moderators in earlier research, including income and educational attainment. Our findings reveal an increasing adoption of solar PV up to the age of 65, and a negative relationship between age and interest in circular solar value propositions. Older consumers report lower interest in technology and in financial considerations and report differential perspectives of environmental benefits compared to their younger counterparts. Our results highlight differences in value propositions and barriers across age groups, enabling the identification of recommendations for policymakers aiming for intergenerational inclusiveness and business managers serving multigenerational market segments in a sustainable transition.