Consumers Willing to Pay for Green Energy

In a recent study conducted by Vestas Wind Systems A/S, it was found that 50% of consumers are willing to pay more for products that are from companies that use renewable energy.  Morten Albæk, the chief marketing officer of this wind turbines company said that the data shows that “consumers have a strong preference for green products, and that corporations can get a commercial benefit from using renewable energy.”

The study polled 31,000 consumers in 26 different countries.  It found that 90% of people want an increase in renewable energy and that 50% of them would pay extra to get these products.  The study found a large difference from country to country, with consumers in China, Chile and India willing to pay extra for green products.  Interestingly, Chinese people listed climate change as the biggest challenge they see the world facing today; America had climate change far down on their list of concerns, and focused, rather, on economic recession as the biggest hurdle.

Albæk explained this by saying that he thinks that “There is some sort of climate change fatigue in the U.S.”  A recent Gallup poll confirmed these opinions.  It showed that Americans feel less threatened this year by climate chance than they did three years ago.