Consumer Preferences and Willingness to Pay for Potting Mix with Biochar

Thomas, McKenzie; Jensen, Kimberly L.; Lambert, Dayton M.; English, Burton C.; Clark, Christopher D.; Walker, Forbes R.

doi:10.3390/en14123432

Open AccessArticle

Consumer Preferences and Willingness to Pay for Potting Mix with Biochar

by

McKenzie Thomas

¹,

Kimberly L. Jensen

^1,*,

Dayton M. Lambert

²,

Burton C. English

¹

,

Christopher D. Clark

¹ and

Forbes R. Walker

³

¹

Department of Agricultural and Resource Economics, The University of Tennessee, Knoxville, TN 37996, USA

²

Department of Agricultural Economics, Oklahoma State University, Stillwater, OK 74078, USA

³

Department of Biosystems Engineering and Soil Sciences, The University of Tennessee, Knoxville, TN 37996, USA

^*

Author to whom correspondence should be addressed.

Energies 2021, 14(12), 3432; https://doi.org/10.3390/en14123432

Submission received: 29 April 2021 / Revised: 25 May 2021 / Accepted: 8 June 2021 / Published: 10 June 2021

(This article belongs to the Special Issue Biochar from Biomass)

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Abstract

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; consumer preferences; potting mix; biofuels; feedstock

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MDPI and ACS Style

Thomas, M.; Jensen, K.L.; Lambert, D.M.; English, B.C.; Clark, C.D.; Walker, F.R. Consumer Preferences and Willingness to Pay for Potting Mix with Biochar. Energies 2021, 14, 3432. https://doi.org/10.3390/en14123432

AMA Style

Thomas M, Jensen KL, Lambert DM, English BC, Clark CD, Walker FR. Consumer Preferences and Willingness to Pay for Potting Mix with Biochar. Energies. 2021; 14(12):3432. https://doi.org/10.3390/en14123432

Chicago/Turabian Style

Thomas, McKenzie, Kimberly L. Jensen, Dayton M. Lambert, Burton C. English, Christopher D. Clark, and Forbes R. Walker. 2021. "Consumer Preferences and Willingness to Pay for Potting Mix with Biochar" Energies 14, no. 12: 3432. https://doi.org/10.3390/en14123432

APA Style

Thomas, M., Jensen, K. L., Lambert, D. M., English, B. C., Clark, C. D., & Walker, F. R. (2021). Consumer Preferences and Willingness to Pay for Potting Mix with Biochar. Energies, 14(12), 3432. https://doi.org/10.3390/en14123432

Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. See further details here.

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Consumer Preferences and Willingness to Pay for Potting Mix with Biochar

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