LAPSE:2023.32877
Published Article
LAPSE:2023.32877
Consumer Preferences and Willingness to Pay for Potting Mix with Biochar
McKenzie Thomas, Kimberly L. Jensen, Dayton M. Lambert, Burton C. English, Christopher D. Clark, Forbes R. Walker
April 20, 2023
Biochar is a co-product of advanced biofuels production from feedstocks including food, agricultural, wood wastes, or dedicated energy crops. Markets for soil amendments using biochar are emerging, but little is known about consumer preferences and willingness to pay (WTP) for these products or the depth of the products’ market potential for this product. This research provides WTP estimates for potting mix amended with 25% biochar, conditioned on consumer demographics and attitudes about product information labeling. Data were collected with an online survey of 577 Tennessee home gardeners. WTP was elicited through a referendum contingent valuation. Consumer WTP for an 8.81 L bag of 25% biochar potting mix is $8.52; a premium of $3.53 over conventional potting mix. Demographics and attitudes toward biofuels and the environment influence WTP. Biochar amounts demanded are projected for the study area’s potential market. Optimal prices, profits, and market shares are estimated across different marginal costs of producing biochar potting mix.
Keywords
biochar, Biofuels, consumer preferences, feedstock, potting mix
Suggested Citation
Thomas M, Jensen KL, Lambert DM, English BC, Clark CD, Walker FR. Consumer Preferences and Willingness to Pay for Potting Mix with Biochar. (2023). LAPSE:2023.32877
Author Affiliations
Thomas M: Department of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USA
Jensen KL: Department of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USA
Lambert DM: Department of Agricultural Economics, Oklahoma State University, Stillwater, OK 74078, USA
English BC: Department of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USA [ORCID]
Clark CD: Department of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USA
Walker FR: Department of Biosystems Engineering and Soil Sciences, The University of Tennessee, Knoxville, TN 37996, USA [ORCID]
Journal Name
Energies
Volume
14
Issue
12
First Page
3432
Year
2021
Publication Date
2021-06-10
Published Version
ISSN
1996-1073
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Original Submission
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PII: en14123432, Publication Type: Journal Article
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LAPSE:2023.32877
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doi:10.3390/en14123432
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Apr 20, 2023
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