Mercom Capital Group, llc, a global communications and consulting firm, released results of a consumer awareness study on renewable energy focused on gauging people’s and businesses’ perception and attitudes toward non-conventional sources of energy in India. Over 1,700 residential and commercial and industrial customers were surveyed.
The “India Consumer Perceptions on Renewable Energy Survey,” conducted by Mercom Communications India, a wholly-owned subsidiary of Mercom Capital Group, found that power cuts have a moderate to major effect on more than 93 percent of businesses polled.
Calling for an uninterrupted supply of electricity, a whopping 94 percent of commercial establishments that took part in the survey said steady power supply could bring a moderate to great improvement in their businesses.
Raj Prabhu, CEO and Co-founder of Mercom Capital Group, commented, “Not only is this a significant finding, but it is a wake-up call and erases any doubt of the impact power cuts are having on businesses. Improving the power shortage situation is urgently needed if we want to see greater economic growth in India.”
About 65 percent of surveyed businesses rely on backup diesel generators during power cuts, while 22 percent of those who didn’t have a backup generator said they were considering one. As many as 74 percent of commercial survey respondents said they favor consistent power without cuts more than they favor low cost, while for 26 percent cheaper power is more important.
The poll highlighted that solar has emerged as the most recognized source of renewable energy, with 91 percent of commercial respondents and 83 percent of residential respondents being familiar with it. Nearly 58 percent of both groups strongly favor solar energy as a future source of energy generation for India.
The environment was underscored as the most important benefit of solar energy by 71 percent of commercial and 65 percent of residential respondents. Nearly half of all respondents said that it is very important for India to develop and generate more solar power.
When asked about other sources of energy, both commercial (47 percent) and residential (39 percent) respondents had a mostly neutral impression of coal as an energy source. The findings were similar for nuclear energy, with 41 percent of commercial and 32 percent of residential respondents having a neutral view.
The survey revealed that only six in 10 (59 percent) commercial respondents were aware of the government-backed subsidy programs for renewable energy. Awareness among residential respondents was at 45 percent. The survey results also highlighted that only 30 percent of commercial respondents and 21 percent of residential respondents were familiar with the Bureau of Energy Efficiency (BEE label) products and their benefits.
During the survey, nearly 90 percent of both commercial and residential consumers urged the government to introduce more subsidy schemes.
Prabhu commented, “Though solar was the most recognized energy source, favorability numbers weren’t as high as they could be. Coal, on the other hand, had a high percentage of neutral and no opinions. Generally we found a lot of opportunities for the renewable energy industry to invest in educating and informing consumers and differentiating renewables from fossil fuels in a country that is hungry for power of any kind.”
The survey was conducted by Mercom Communications India in partnership with the BMS College of Engineering and the University Visvesvaraya College of Engineering in Bangalore, the Institute of Management Development and Research in Pune and the Lalbhai Dalpatbhai College of Engineering in Ahmedabad.
Click here for a copy of the survey: India Consumer Perceptions on Renewable Energy Survey
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and consulting firm focused on Healthcare IT, cleantech and financial communications. Mercom’s consulting division advises companies on new market entry, overall strategic decision-making, and provides custom market research. Mercom delivers highly respected industry market intelligence reports covering Healthcare IT, Solar Energy, Wind Energy and Smart Grid. Our reports provide timely industry happenings and ahead-of-the-curve analysis specifically for C-level decision making. Mercom’s communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities and strategic partners. For more information about Mercom Capital Group, visit: http://www.mercomcapital.com. To receive Mercom’s popular market intelligence reports, visit: http://mercomcapital.com/market_intelligence.php.
Raj is a recognized thought leader in clean energy markets where his work has influenced policies worldwide. He has a deep understanding of regulatory policy and clean energy markets and his market and opinion pieces are regularly published on both MercomIndia.com and other leading publications globally. Raj is also a regular speaker and presenter on clean energy policy and finance topics at conferences worldwide. Raj attended the KLE College of Science in Bangalore, India for physics and chemistry, and holds a Bachelor of Science Degree in Hotel and Institutional Management from Johnson and Wales University, Rhode Island. More articles from Raj Prabhu.