The importance of social responsibility in moderating the needs for tax credits in the adoption of solar panels

Tao Lin

doi:10.17918/00010812

Fossil fuels have been the major cause of global carbon emissions since 1900 and the rate of emissions keeps on increasing. Similarly, most consumers are drawn to environmentally friendly business operations and products and this interest has significantly grown over the last few decades (Sena, 2020). Driven by social responsibility, consumers feel morally demanded and even feel a duty to save the environment in a bid to preserve the planet's finite resources Moreover, the government also plays an undeniable role in environmental protection by offering tax credits, purchase rebate and other incentives as According to Papada and Kaliampakos (2020), the cost, availability of information, and lack of education on solar energy were the main reasons why solar energy was not widely adopted in America. A large percentage of people with a secondary education used solar energy. In a similar vein, people with higher education levels and above used electricity more frequently. University graduates were primarily associated with biogas energy. The adoption of energy devices in the research areas can be strongly influenced by education level. This could most likely be related to awareness of the benefits and drawbacks of energy technology, which is corroborated by IRENA (2018), which indicated that the lack of data restricts the spread of technology. To study the factors of consumption of solar power among residents in the U.S.A, a sample of residents in the U.S.A were asked to fill in a survey. Findings from existing literature identified factors such as the price of solar energy in comparison to electricity, ability to use tax credits and demographic factors such as income, size of land, if the house is owned or rented, influencing the intention to adopt solar energy among residents in the U.S.A. More specifically, individuals with more acres of land and owned their home, were more likely to start using solar panels. Alternatively, the more the number of instances one plans to move, the less likely they were use solar panels. It was also noted that awareness to tax credits is also a key factor on intention to use solar panels. Additionally, lack of trust in technology and environmental responsibility also plays key roles influencing the intention to adopt solar energy positively. In conclusion, it is crucial for one to pay attention to individuals/households with more acres of land, those who are not likely to move, sense of environmental responsibility, bring in the awareness of government tax credits and educate them on how they can trust the technology to make more people consume solar energy. This can be used in a sales/ marketing pitch.

The importance of social responsibility in moderating the needs for tax credits in the adoption of solar panels

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The importance of social responsibility in moderating the needs for tax credits in the adoption of solar panels

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