Research on Willingness to Pay for Cascade Utilization of New Energy Vehicle Battery Products under the “Double Carbon” Goal

Abstract

With the growing global concern about climate change, China, as the world's largest carbon emitter, faces the great challenge of achieving the carbon peak and carbon neutral goals. This paper explores the factors affecting consumers' willingness to pay for secondary utilization of battery products and, based on the Theory of Planned Behavior (TPB), adds three variables, namely incentive policy, knowledge and perceived risk, and applies interpretative structural modeling (ISM) to analyze how these factors affect consumers' willingness to pay. It was found that knowledge and incentive policy are deep-level factors that affect willingness to pay, while consumers' perceived risk, perceived behavioral control, and subjective norms are mid-level influences that directly affect attitude and willingness to pay. Attitude, as a superficial factor, is a direct determinant of consumers' willingness to pay. Through ISM analysis, the study reveals the interactions and the dynamic circular system between these factors, emphasizing the importance of policy and knowledge dissemination in promoting consumer acceptance of new products, as well as the importance of reducing perceived risk and increasing self-efficacy in forming positive attitudes. Finally, the theoretical and practical implications of the findings are discussed and relevant policy recommendations are made.