Delaying payout encourages electricity savings
A large part of the population can be motivated to save energy with a carrots and sticks approach: in a study by the University of Geneva, one third of more than 500 test persons opted for new payment models that promised a financial bonus of 100 francs for an electricity saving of 10 per cent per year. However, if the saving wasn’t achieved, they would have to pay a penalty fee of 50 francs. Most people wanted to receive the money only after reaching the target and not when accepting the payment model. This surprised the researchers, as people generally prefer immediate payouts for financial rewards rather than waiting for them. They suspect that the test persons hoped to be more motivated by delaying the reward. If implemented, such voluntarily chosen payment models could help to promote environmentally conscious behaviour.