ISM-MICMAC-based study on key enablers in the adoption of solar renewable energy products in India

Richa Agarwal, Artee Bhadauria, Hans Kaushik, Sanjeev Swami and Rohit Rajwanshi

Technology in Society, 2023, vol. 75, issue C

Abstract: The demand for energy in India has been increasing steadily due to the country's rapid demographic and economic expansion. This has led to the realization of the significant potential of solar energy in the Indian energy sector. This study aims to identify and evaluate the factors driving the adoption of solar renewable energy products in India. After examining 40 ABDC-indexed articles and deployment of a nominal group approach, we have compiled a list of 19 factors that impact the adoption of solar renewable energy products. To better understand the relationship between these factors, we utilized the cross-impact matrix multiplication (MICMAC) method to create a driving force-dependency quadrant graph. Additionally, we identified each factor's hierarchical structure using the ISM soft technique. The results show that loyalty, willingness to use, and purchase intentions were identified as dependent drivers, while market imperfections, absorptive capacity, product availability, cognitive resonance, and eco-labelling awareness are independent drivers that require attention. This information can be beneficial for decision-makers in developing proactive strategies, end-users, research organizations, and academic institutions alike.

Keywords: Solar energy products; Interpretive structural model; MICMAC; Market imperfections; Absorptive capacity (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:teinso:v:75:y:2023:i:c:s0160791x2300180x

DOI: 10.1016/j.techsoc.2023.102375

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