With the growing acceptance of renewable energy sources in the world, new energy sources are pursued and investigated by customers. In India, residential PV technology is in an early stage of development and very less in demand among households. Therefore, the purpose of this study is to identify the major variables and its impact on customers purchase intention towards solar PV technology, especially in the context of central India.
Based on literature reviews, this study identifies six major independent variables having a relationship with purchase intentions. Using convenience sampling method, 413 customers’ data has been collected by the researcher and was investigated through structural equation modelling, using SmartPLS 2.0 and SPSS-20 software.
The study findings suggested that the construct promotional strategies, societal influence, customer awareness and government initiative plays an important role in generating customers purchase intention towards solar PV technology. While the constructs environmental concern and availability & cost having relationship, showed insignificant influence.
The study outcomes provide some valuable insights to the government and policymakers in designing their policies and strategies to increase customer involvement in solar PV technology. This study suggested that the service providers need to offer more benefits in the form of subsidies and schemes that motivate customers to willingly show their purchase intention.
The major contribution of this study is the empirical analysis of six independent variables, which affects the customer purchase intentions towards solar PV technology over available conventional energy sources in an emerging Indian market.
