Browse > Article
http://dx.doi.org/10.13106/jafeb.2022.vol9.no5.0201

Critical Factors Affecting Rooftop Solar System Investment: An Empirical Study in Vietnam  

THAN, Duong Thuy Thi (Electric Power University)
BUI, Tuan Quang (Vietnam Institute of Economics)
DUONG, Kien Trung (Electric Power University)
BUI, Tu Ngoc (Institute for Africa and Middle East Studies (IAMES))
Publication Information
The Journal of Asian Finance, Economics and Business / v.9, no.5, 2022 , pp. 201-211 More about this Journal
Abstract
The economic development of most countries in the world has negatively impacted fossil energy resources. Fossil energy sources such as petroleum and coal are increasingly depleted. When energy sources are exhausted, renewable energy sources are growing strongly. Renewable energy development can help to replace diminishing fossil fuels. Furthermore, the usage of renewable energy can contribute to a green economy and sustainable development by protecting the environment. Solar power on the roof is one of the many renewable energy sources available. But at present, the investment in roof voltage systems has not developed strongly in Vietnam. This paper uses the SEM model to evaluate the factors affecting investment in rooftop solar power in some provinces of Vietnam. The article uses the household interview method. The article has given 8 factors affecting the decision to invest in rooftop solar power for households. Research results show that most of the factor variables have a positive impact on the decision to invest in rooftop solar power. Based on assessing the factors affecting the decision to invest in rooftop solar power, the article will provide conclusions and policy suggestions to increase investment in rooftop solar power in Vietnam.
Keywords
SEM; Rooftop Solar System; Environment; Energy; Investment;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
연도 인용수 순위
1 Akil, S. R., Soemaryani, I., Hilmiana, H., & Joeliaty, J. (2021). Determinant factors of intellectual capital for improving public sector innovation: An empirical study from Indonesia. Journal of Asian Finance, Economics, and Business, 8(12), 421-429. https://doi.org/10.13106/JAFEB.2021.VOL8.NO12.0421   DOI
2 Braito, M., Flint, C., Muhar, A., Penker, M., & Vogel, S. 2017. Individual and collective socio-psychological patterns of photovoltaic investment under diverging policy regimes of Austria and Italy. Energy Policy, 109, 141-153. https://doi.org/10.1016/j.enpol.2017.06.063   DOI
3 Guta, D. D. (2018). Determinants of household adoption of solar energy technology in rural Ethiopia. Journal of Cleaner Production, 204, 16-28. https://doi.org/10.1016/j.jclepro.2018.09.016   DOI
4 Jackson, J. J., & Mushi, A. (2020). Performance analysis of renewable energy resources in rural areas: a case study of solar energy. Tanzania Journal of Engineering and Technology, 39(1), 1-12. https://doi.org/10.52339/tjet.v39i1.514   DOI
5 Ondraczek, J. (2013). The sun rises in the east (of Africa): A comparison of the development and status of solar energy markets in Kenya and Tanzania. Energy Policy, 56, 407-417. https://doi.org/10.1016/j.enpol.2013.01.007   DOI
6 Sen, S., & Ganguly, S. (2017). Opportunities, barriers and issues with renewable energy development: A discussion. Renewable and Sustainable Energy Reviews, 69, 1170-1181. https://doi.org/10.1016/j.rser.2016.09.137   DOI
7 Yoomak, S., Patcharoen, T., & Ngaopitakkul, A. (2019). Performance and economic evaluation of solar rooftop systems in different regions of Thailand. Sustainability, 11(23), 6647. https://doi.org/10.3390/su11236647   DOI
8 Rahut, D. B., Mottaleb, K., & Akther Ali. (2017). Rural livelihood diversification strategies and household welfare in Bhutan. European Journal of Development Research, 30(1), 5-11. https://doi.org/10.1057/s41287-017-0120-5.   DOI
9 Abd Latif, Z., Zaki, N. A. M., & Salleh, S. A. (2012). GIS-based estimation of rooftop solar photovoltaic potential using LiDAR. Manhattan, NY: IEEE.
10 Schelly, C. (2014). Residential solar electricity adoption: What motivates, and what matters? A case study of early adopters. Energy Research & Social Science, 2, 183-191. http://doi.org/10.1016/j.erss.2014.01.001   DOI
11 Poier, S. (2021). Towards a psychology of solar energy: Analyzing the effects of the Big Five personality traits on household solar energy adoption in Germany. Energy Research and Social Science, 77, 102087. https://doi.org/10.1016/j.erss.2021.102087   DOI
12 Vidadili, N., Suleymanov, E., Bulut, C., & Mahmudlu, C. (2017). Transition to renewable energy and sustainable energy development in Azerbaijan. Renewable and Sustainable Energy Reviews, 80, 1153-1161. https://doi.org/10.1016/j.rser.2017.05.168   DOI
13 Wasi, N., & Carson, R. (2013). The influence of rebate programs on the demand for water heaters: The case of New South Wales. Energy Economics, 40, 645-656. https://doi.org/10.1016/j.eneco.2013.08.009   DOI
14 Ngo, H. T., Nguyen, T. D., Nguyen, N. T. T., Dao, H. N., & Vu, A. P. T. (2021). Factors affecting the internal control system: A case study of chemical enterprises in Vietnam. Journal of Asian Finance, Economics, and Business, 8(12), 371-376. https://doi.org/10.13106/JAFEB.2021.VOL8.NO12.0371   DOI
15 Shirizadeh, B., & Quirion, P. (2022). Do multi-sector energy system optimization models need hourly temporal resolution? A case study with an investment and dispatch model was applied to France. Applied Energy, 30(5), 79-91. https://doi.org/10.1016/j.apenergy.2021.117951   DOI
16 Christine, L. C., & Chernyakhovskiy, I. (2014). Solar PV technology adoption in the United States: An empirical investigation of state policy effectiveness. Proceedings at the Agricultural & Applied Economics Association's 2014 AAEA Annual Meeting, Minneapolis, MN, July 27-29, 201 (pp. 1-21).
17 Dondariya, C., Porwal, D., Awasthi, A., Shukla, A. K., Sudhakar, K., S. R., & Bhimte, A. (2018). Performance simulation of grid-connected rooftop solar PV system for small households: A case study of Ujjain, India. Energy Reports, 4, 546-553. https://doi.org/10.1016/j.egyr.2018.08.002   DOI
18 Kodysh, J. B., Omitaomu, O. A., Bhaduri, B. L., & Neish, B. S. (2013). Methodology for estimating solar potential on multiple building rooftops for photovoltaic systems. Sustainable Cities and Society, 8, 31-41. https://doi.org/10.1016/j.scs.2013.01.002   DOI
19 Malik, S. A., & Ayop, A. R. (2020). Solar energy technology: Knowledge, awareness, and acceptance of B40 households in one district of Malaysia towards government initiatives. Technology in Society, 63, 101416. https://doi.org/10.1016/j.techsoc.2020.101416   DOI
20 Nguyen, T. L., Tran, N. P., Nguyen, T. K. T., Huynh, T. C. T., Nguyen, T. K. L., Thach, L. P. N., Thai, G. N., & Tran, T. T. S. (2021). Consumer perceptions and consumer behavior toward bio-based products: An empirical study in Vietnam. Journal of Asian Finance, Economics, and Business, 8(12), 211-222. https://doi.org/10.13106/JAFEB.2021.VOL8.NO12.0211   DOI