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\hypersetup{pdftitle={Are Rural Households Willing to Pay for Renewable Energy in South West Nigeria?},pdfauthor={Oluwakemi Obayelu, Abdulraheem Raji},pdfsubject={Tropentag 2016: Abstract},pdfkeywords={Contingent valuation, perception, renewable energy sources},pdfpagemode=None,colorlinks=true}
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\parbox[b]{13.4cm}{\centering \large{\textbf{Tropentag, September 18-21, 2016, Vienna, Austria}}\\[1ex] \Large{``Solidarity in a competing world ---\\fair use of resources''\\[2ex]}}
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\Large{\textbf{Are Rural Households Willing to Pay for Renewable Energy in South West Nigeria?\footnote{\textbf{Contact Address:} Oluwakemi Obayelu, University of Ibadan, Agricultural Economics, 220884~Ibadan, Nigeria, \mbox{e-mail}: \email{jkemmyade@yahoo.co.uk}}\\[0.8ex]}}
\normalsize{\textsc{Oluwakemi Obayelu$^{1}$, Abdulraheem Raji$^{2}$}}
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\begin{itemize*}
\item[]{\small{\textit{$^{1}$University of Ibadan, Agricultural Economics, Nigeria}}}
\item[]{\small{\textit{$^{2}$University of Ibadan, Agricultural Economics, }}}
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\index[author]{Obayelu, Oluwakemi}
\index[author]{Raji, Abdulraheem}
\begin{center}
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\textbf{Abstract}
\begin{abstract}
\normalsize{
Nigeria has abundant but untapped renewable energy resources in varying combinations of solar, wind, geothermal, and biomass. Renewable energy (RE) penetration in Nigeria is still in its nascent stage, the only source of renewable energy in the country is hydro power, biomass, wind and solar energy which are only deployed in infinitesimal amount. The perception of consumers and their willingness to pay (WTP) for clean energy are the key variable for suppliers to become more competitive in the retail market; and for government to design energy policies. The conventional welfare measures for price changes are compensating and equivalent variations which correspond to the maximum amount an individual would be willing to pay to secure changes or the minimum amount a consumer would be willing to accept to forgo it. Owing to the dearth of studies on WTP for renewable energy in Nigeria and the fact that the use of renewable energy is very low in the country, the study therefore assessed the perception and willingness to pay for renewable energy source(s) in rural Oyo State, Nigeria. A multistage sampling procedure was used to select 200 energy consumers in the study area. Data were analysed using the descriptive statistics, Likert scale and the logit model. Results showed that The mean score of perception of respondents showed that the respondents were undecided on whether RE products are cheaper than fossil fuel or not. Conversely, they strongly perceived that RE products are safer and more sustainable than fossil fuels. A majority of the respondents were willing to pay for improved hydro"=electricity (\mbox{71\,\%}) and solar lamps (\mbox{58.5\,\%}) while about \mbox{13\,\%} and \mbox{27.5\,\%} of them were willing to pay for solar PV and biomass respectively. Similarly, the respondents were willing to pay for the RE source given that the prices were not too high. Further, the four logit models revealed that age, sex, marital status, household size, per capital expenditure and year of education were the prime drivers of respondents' willingness to pay for the RE sources in rural Oyo state Nigeria.



 }

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\noindent \textbf{Keywords:} Contingent valuation, perception, renewable energy sources
\index[key]{Contingent valuation}
\index[key]{Perception}
\index[key]{Renewable energy sources}
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