Toward sustainable environmental management: Insights from Chinese first-tier cities' consumers' response to green electricity payment policies

China's renewable energy industry is facing the challenge of overcapacity. The environmental management literature suggests that consumers' participation in the green electricity market holds immense potential in addressing renewable energy consumption concerns. However, the question of how payment policies influence China's consumers' willingness to pay for green electricity remains unresolved. Based on 2854 valid questionnaires from a survey conducted in China's four first-tier cities in 2023, our research findings reveal: (1) While 97.9% of consumers express a willingness to use green electricity, only 63.1% are willing to pay a higher cost, indicating the existence of a "value-action" gap between environmental awareness and actual willingness to pay. (2) China's consumers' willingness to pay for green electricity is approximately 38.4 RMB per month. This figure has decreased by 5.7 RMB compared to our survey in 2019. (3) Consumers' willingness to pay will be influenced by the attitudes of those around them. (4) The voluntary payment policy positively impacts consumers' willingness to pay for green electricity. (5) Male, younger, lower education level, higher income, and larger household size consumers exhibit a higher willingness to pay. (6) Electricity price sensitivity weakens the impact of payment policies on willingness to pay.