Investing in renewable energy portfolio in post-2008 Greece, factors affecting public acceptance

Investing in a risk-diversified portfolio of investments necessitates a clear idea of how the welfare of local communities (where the investments are to be realized) is affected. The present paper analyses this hypothesis for renewable energy investments. We examine a range of characteristics/attributes which formulate preferences favoring a portfolio of RES investments. We apply our research to a geographical region which holds a considerable potential of RES availability, the island of Lesvos, northern Greece. We designed and implemented a structured contingent valuation survey to a random sample of the inhabitants of Lesvos in order to investigate individual preferences and attitudes towards a portfolio of RES and elicit public acceptance for investing in specific RES technologies. We argue that such information is relevant for energy policy design and the establishment of effective measures for the promotion of renewable energy sources.