Factors Influencing the Intention to Obtain Green Energy Loan

Abstract

The purpose of this study is to identify the factors that affect the intention to acquire green energy systems by professionals in Sri Lanka with the support of financial institutions. The high investment costs, which are captured by subjective and objective proxies, appear to impede the adoption of energy efficient measures, even if these measures are deemed profitable. The lack of capital slows down the adoption of energy efficient measures, primarily for larger investments acquiring green energy systems. Hence, investment subsidies or soft loans (for larger investments) may help accelerate the diffusion of energy efficiency measures in households. Improvements of the awareness of the impact on implementation of self-sufficient green energy applications by individuals for the development of economy and environment in a country like Sri Lanka and its long term benefit for the people. The importance of application of such methods is evident, as though those are in micro financial level the ultimate impact of such activates on the society is very high. The capital investment on green energy methods are very high and hence the consumers in Sri Lanka who are in the upper and the middle level of pyramid market are selected to launch a initial loan scheme for green energy. With the support of the literature review in the field of energy sustainability along with the theory of planned behavior, this study seeks possible methods to implement such loan schemes through the financial institutions.