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Impact of Demographic, Psychological Attributes and Financial Consciousness of Households on their Energy Conservation Behavior: Testing the Mediating Role of Behavioral Intention

The implementation of energy sustainable practices is acknowledged to be a vital step towards resolving the problem of energy shortage. However, the energy conservation behavior of households in developing countries has not gained much attention. Therefore, this research aims to examine the effect of psychological attributes and financial consciousness on the energy conservation behavior of residential individual in the presence of behavioral intentions. For the purpose of this study, we performed a regression analysis on the data set collected through a questionnaire survey of 310 residential individuals in Lahore, Pakistan. Results reveal that the psychological attributes and financial consciousness of the households have a significant effect on their energy conservation behavior. Further, the findings of the study establish a significant mediating role of households' behavioral intentions towards energy conservation. The findings of this study suggest that media campaigns and energy conservation seminars should emphasize the adoption of energy-saving technologies.