Factors influencing the adoption of renewable energy in India: supplementing technology-driven drivers and barriers with sustainable development goals
Journal of Advances in Management Research
ISSN: 0972-7981
Article publication date: 11 January 2024
Issue publication date: 19 April 2024
Abstract
Purpose
This empirical research intends to examine factors influencing the adoption of renewable energy (RE) using a conceptual model of the consumer decision-making process.
Design/methodology/approach
This study uses a primary response-based survey to collect data from 668 respondents interested in adopting RE for their daily usage. The sample respondents were chosen through a multi-stage random stratified technique. The responses were analyzed through structural equation-based modeling techniques to discuss the findings and suggest further implications.
Findings
The findings suggest that factors like knowledge, policy incentives, sustainable development goals (SDGs-7, 11 and 13), socio-economic benefits and risk perception significantly impact the adoption of RE. Besides, risk perception mediates between environmental concerns and the adoption of RE. Also, age has a significant role in RE adoption.
Social implications
The study finds the critical role of government in introducing financial incentives to reduce the initial cost of renewable adoption. Doing so will also promote clean and equitable energy access to society leading to further fulfillment of SDGs. Additionally, steps like knowledge enrichment, designing suitable policies for a manufacturer and public-friendly renewable market development will further facilitate renewable adoption in society.
Originality/value
With an objective to study the public perception and attitude towards renewable adoption, this empirical research is the first of its kind to carry out a real-time survey of the Indian population and suggest policy implications which would benefit all the concerned stakeholders.
Keywords
Acknowledgements
Since submission of this article, the following author(s) have updated their affiliations: Sidhartha Harichandan is at the Institute of Management Technology, Nagpur, India.
Citation
Kar, S.K., Harichandan, S. and Prakash, O. (2024), "Factors influencing the adoption of renewable energy in India: supplementing technology-driven drivers and barriers with sustainable development goals", Journal of Advances in Management Research, Vol. 21 No. 2, pp. 245-266. https://doi.org/10.1108/JAMR-08-2023-0242
Publisher
:Emerald Publishing Limited
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