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CONSUMER PERCEPTION TOWARDS SOLAR POWER SOLUTIONS Imran Khan & Saurabh Gupta EMBA, Delhi Technological

Consumer perception towards solar products

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Page 1: Consumer perception towards solar products

CONSUMER PERCEPTION

TOWARDS SOLAR POWER SOLUTIONS

Imran Khan & Saurabh GuptaEMBA,

Delhi Technological University

Page 2: Consumer perception towards solar products

SOLAR ENERGY

Page 3: Consumer perception towards solar products

What is Solar Energy?

A clean renewable source of energy with zero emission

Conversion of sunlight into electricity, either directly using photovoltaics (PV) or indirectly using concentrated solar power (CSP). Concentrated solar power

systems use lenses or mirrors and tracking systems to focus a large area of sunlight into a small beam.

Photovoltaics convert light into electric current using the photovoltaic effect.

Page 4: Consumer perception towards solar products

Earlier View

Energy from the sun: source for all planets, mainly for our earth, as it supports life. Considered as primary energy source

It provides energy to all living beingsHelps in photosynthesis processAlso used for cooking food, drying clothes

etc.

Page 5: Consumer perception towards solar products

Modern View

Today SUN is not only used for preparing food.

It is used as an ALTERNATIVE SOURCE OF ENERGY.

Solar energy is widely used all over the world as a source for generating power. Used for heating water, transport and

reconnaissance, solar cooker, producing electricity, water treatment , architecture and horticulture.

Page 6: Consumer perception towards solar products

World population rising at an alarming paceDoubled from 3.2 billion in 1962 to 7 billion

in 2015Forecasted to grow to 9.2 billion by 2050.

Natural resources (such as oil, gas, coal, uranium) depleting @ approx same ratePuts pressure on the energy sector to move

away from carbon burning to solar and other environmentally friendly and renewable options.

India, with more than 1.25 billion people stands fifth in the world in the production and consumption of electricity.

Market Scenario

Page 7: Consumer perception towards solar products

The power produced in the country is mostly from coal (53%) and it is predicted that country’s coal reserves won’t last beyond 2040-50.

More than 70% population living in villages and half of the villages remain without electricity.

To meet this surging demand, solar energy is the best form of energy to fulfil the energy needs of India and bridge the energy demand-supply gap.

The geographical location (near to Tropic of Cancer) of the country stands to its benefit for generating solar energy.

Market Scenario cont…..

Page 8: Consumer perception towards solar products

Government Initiatives

Page 9: Consumer perception towards solar products

Subsidy Scheme to Promote Solar Energy through the Jawaharlal Nehru National Solar Mission (JNNSM–With a target of 20,000MW till 2022)

30% subsidy is given by central government for home solar power plants and AP Govt. to offer 20% extra subsidy for solar units.

National Bank for Agriculture and Rural Development (NABARD) is giving 50% loan for solar products.

For households below the poverty line, 100% capital subsidy would be provided as per norms of the Kutir Jyoti Program.

Cont......

Page 10: Consumer perception towards solar products

Generation based incentive for grid interactive solar power generation projects (PV and Thermal both).

Programme on “Accelerated development and deployment of solar water heating Systems in domestic, industrial and commercial sectors”.

Revised Scheme on “Demonstration and Promotion of Solar Photovoltaic Devices/Systems in Urban Areas and Industry”.

Continuation of the Scheme on “Promotion of Solar Thermal Systems for air heating/Steam generating applications, Solar buildings and Akshay Urja Shops”.

Implementation of the programme on “Development of Solar Cities” during 12th Plan period including 2012-17.

Solar Development Schemes

Page 11: Consumer perception towards solar products
Page 12: Consumer perception towards solar products

Solar LanternSolar Home LightsSolar Street LightsSolar Power PlantsSolar Water HeatersSolar CookerSolar StillsSolar Add-On SystemsSolar Chargers

Types of Solar Power Products

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Research Objective: To understand the consumer perception and attitude towards the usage of solar power solutions in Indian context.

Research Design: Exploratory till identification of parametersDescriptive when it comes to assessing consumer

perception

OBJECTIVE & RESEARCH DESIGN

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Methodology : The study was conducted using convenient sampling technique with the help of structured questionnaire. The survey was restricted to the residents of Delhi and NCR only.

Data SourcePrimary Data: collected by means of a survey.

Questionnaire was prepared and floated online. Secondary Data: Books & articles from various

search engines like Google, yahoo search and answers.com.

METHODOLOGY & DATA SOURCE

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SAMPLE INFORMATION

SAMPLING UNITS Delhi/NCR residents

SAMPLING SIZE 50 respondents

SAMPLING TECHNIQUE Convenient Sampling

RESEARCH INSTRUMENT Structured Questionnaire

MODE OF CONTACT E-mail & Online availability

Data Collection Tool : The questions measuring respondent attitudes used Likert Scale (1-5),

1. Strongly disagree2. Disagree3. Neither agree nor disagree4. Agree5. Strongly agree

Page 16: Consumer perception towards solar products

DATA ANALYSIS & INTERPRETATION

10%

28%

35%

25%

2%

Income

upto 25,00025,001 - 50,00050,001 - 75,00075,001 - 1,00,000> 1,00,000

10%

29%

36%

26%

Education

Up to Class 12th GraduatePost - Grad-uate

42%

48%

8% 2%Age

18-3031-4041-5051-60>61

87%

13%Gender

Male

Female

Page 17: Consumer perception towards solar products

02468

10121416

12

7

15

12

4

Frequency of Power Cuts

Counts

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16%

6%

78%

Awareness towards Solar Solutions

Completely SomewhatUnaware

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KMO & Bartlett’s Test Measure of sampling adequacy Shows validity & suitability of responses

collected to problem Value of .792 indicating good analytical tool for

factor analysis

Cronbach’s alpha Not a statistical test A coefficient of internal reliability (or

consistency) Value of .855 indicative of internal consistency

within the data

Page 20: Consumer perception towards solar products

Rotated Component Matrix Simplify interpretation of factor analysis All factors such as performance, service,

durability, quality, etc. are strictly coherent to each other

Correlation Matrix Not a statistical test A coefficient of internal reliability (or

consistency) Value of .855 indicative of internal consistency

within the data

Page 21: Consumer perception towards solar products

Price is not a matter of concern for sample respondents

Word of mouth communication appears to be the most effective mode of communication.

Alternative energy solutions desirable by 78% of sample respondents However, only 22% are aware about solar power

solutions available as an alternative solution to conventional electricity generation.

Conclusions

Page 22: Consumer perception towards solar products

22% respondents awareness towards solar solutions UNTAPPED POTENTIAL in an already existing

market situationIncrease awareness in rural areas.Establish R&D setups to boost development and

efficiency in solar power solutions.Roll out an educational course in Solar Engineering

considering the immense potential and market existing and foreseen in this sector.

Recommendations

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THANK YOU