Watt's the score? Unleashing energy financial literacy through social dynamics and energy asset ownership

In the context of private household energy issues, energy-related financial literacy (EFL) is a key competence. This article analyzes EFL as an empirically measurable skill and examines how it varies among households based on social, economic, and technological characteristics. The empirical analysis is based on a household survey conducted in Germany, Austria, and Switzerland (‘D-A-CH’ region) ( N = 10,346). EFL is measured using a composite index integrating energy-related cost knowledge and basic financial skills. Group differences are examined according to a multi-dimensional socio-economic status (SES) indicator, gender, age country of origin, home ownership, and ownership of selected energy technologies. The results reveal significant differences in EFL levels according to gender, country of origin, and SES, whereas age is not significantly associated with EFL. Males and households with a higher SES consistently show higher EFL scores. Respondents from Austria and Switzerland show slightly lower EFL scores than respondents from Germany. Additionally, homeowners and respondents owning heat pumps or wallboxes show higher EFL scores, whereas AC ownership is negatively associated with EFL. Battery storage, battery-electric mobility device ownership, and battery-electric car ownership are not significantly associated with EFL. Overall, the results highlight that EFL is a socially structured skill whose level varies systematically between household groups.