Abstract
In this study, willingness to pay (WTP) was evaluated for discussing consumers' price acceptability for purchasing an LED light bulb as one of the low carbon products. Firstly, the WTP was calculated by the contingent valuation method (CVM) based on questionnaire survey. As a result, the mean value of WTP showed 1,495 JPY. Secondly, the price difference between the price of LED light bulb that consumers consider as possible to purchase and its actual price was investigated. The resulting price difference was 1,215 JPY, which we implied as one of the reasons for prohibiting its widespread use. To resolve such hindrance, the cost payback time (CPT) was also calculated, and we found that the CPT to recover the price difference was 6.5 months. A presentation of the CPT may promote LED light bulbs.
