Factors influencing the adoption of renewable energy in India: supplementing technology-driven drivers and barriers with sustainable development goals

Sanjay Kumar Kar, Sidhartha Harichandan and Om Prakash

Journal of Advances in Management Research, 2024, vol. 21, issue 2, 245-266

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: Renewable adoption; Sustainable development goals (SDG); Sustainable community; Energy security; Structural equation modeling (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jamrpp:jamr-08-2023-0242

DOI: 10.1108/JAMR-08-2023-0242

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