How do energy price, energy-saving policies, and crisis affect energy-saving behavior?

Abstract

In order to reduce CO2 emissions into the environment, energy conservation is considered a long-term strategy. To encourage people to save energy, the government may need to implement certain policies. Vietnam is a developing country dependent on fossil fuels and heavily affected by climate change. At the same time, there has been no research evaluating the impact of energy prices, government policies, and crises on energy-saving behavior in Vietnam. Therefore, this study uses the theory of planned behavior, technological acceptance behavior, and social exchange to evaluate these relationships. This research will answer the keys research question such as how would the policies which related to price, energy-saving activities effect on energy-saving behavior of households; How would a crisis like covid-19 affect energy-saving behavior? The research conducted surveys and analysis on 1166 respondents. The results of the PLS-SEM model analysis indicate that energy-saving policies do not directly affect the intention to save energy but have a positive impact on energy-saving behavior. Both energy prices and crises have a positive impact on both the intention and behavior of energy-saving. The study has made a significant contribution to the theory by confirming the existence of social exchange theory and the protection motivation theory in explaining energy-saving behavior.