Influence of socioeconomic Status on the Acceptance and Optimization of Renewable Energy for Sustainable Power Supply in Umunneochi

Abstract

Socioeconomic status influences consumption behavior, technological adoption, lifestyle choices, and access to public services. The study examined the influence of socioeconomic status on the acceptance and optimization of renewable energy for sustainable power supply in Umunneochi. Quantitative approach rooted on positivism paradigm was adopted for the study, which was anchored on the Technology Acceptance Model (TAM). The population of the study consists of the entire residence of Umunneochi LGA, Abia State which is estimated at 239,952 according to City population projection 2025. The sample size of the study is 700 residences of Umunneochi who are 18years and above. Structured questionnaire was used for data collection. Mean and standard deviation was used to answer the research questions, while ANOVA were used to test the null hypotheses at 0.05 level of significance. The study revealed that, the willingness to pay for renewable energy as alternative source of power supply is high among residence of Umunneochi, however, income, education, and occupation has significant influence on the level of acceptance, while only occupation had significant influence on optimization of renewable energy for sustainable power supply in Umunneochi (P>0.05). The study recommended that, the federal and state government should subsidize renewable energy for residence or provide installment payment plans for residence as income is the major determinant of acceptance of renewable energy as source of alternative power supply.