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Consumer Behavior & Adoption of Renewable Energy

CONSUMER BEHAVIOR & ADOPTION OF RENEWABLE ENERGY

MGB FRP – Sem 1(Nov 21012 – Apr 2013)

Research Team Arpit Narang MGB12CMM066 Ashish Jain – MGB12CMM068 Gauri Pethe – MGB12CMM077 Joel Duarte – MGB12CMM080

Academic Mentor Ami Mehta

Consumer Behavior & Adoption of Renewable Energy

Table of Contents Introduction................................................................................................................3 Issues with Non-Renewable Sources of Energy .............................................................4 Clean Technology (Renewable Sources of Energy) ........................................................5 Types of Renewable Sources of Energy ..........................................................................5 Macroeconomic View......................................................................................................7

Research Problem ......................................................................................................9 Hypothesis .................................................................................................................9 Scope and Objective of the Research ........................................................................9 Market for Renewable Energy ......................................................................................10

Theoretical Framework............................................................................................12 Theory on Diffusion of Innovations ..............................................................................12 Theory of Reasoned Action ...........................................................................................14 Technology Acceptance Model .....................................................................................15

Gap in Existing Research ........................................................................................16 Methodology ............................................................................................................18 Literature Review ..........................................................................................................18 Data Collection ..............................................................................................................19 Research Methods and Variables ..................................................................................19 Research Methods and Data Analysis ...........................................................................22

Conclusion ...............................................................................................................22 Action Plan ..............................................................................................................22

Consumer Behavior & Adoption of Renewable Energy Introduction Energy can be broadly classified into Primary and Secondary sources of energy. The primary sources of energy consists of naturally occurring resources like wood, crude oil, uranium, wind, geo-thermal, solar radiations and others. The secondary source of energy is energy that is converted technologically from primary sources and consists of electricity, fuel oils, methanol, gasoline, hydrogen and others.

The primary sources of energy can be further classified into renewable and non-renewable sources of energy. Simply put renewable sources of energy are inexhaustible sources of energy and on the other hand the non-renewable sources of energy are rapidly depleting.

Why is it important to study energy? Well it is quite obvious that we can’t really run the planet without energy, and hence, it is extremely crucial to observe, map and understand its sources as well as its consumption. The following table shows that the world consumption of energy between 2008 and 2035. It can be observed that the consumption for energy worldwide is on an increasing...
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