A Study of Adoption and Diffusion of New and Renewable Energy Technology Products for Domestic Use

Abstract

Globally, energy scarcity coupled with climate change is the dominant theme newlinein the energy research domain and a major concern in most of the national level plans. newlineRenewable energy has been seen as a viable alternative to mitigate this crisis. This newlineresearch focused on the eco-innovations of New and Renewable Energy Technology newlineProducts (NRETs), which have domestic applications, for the study. However, the newlineliterature review revealed that despite the favorability of socio-economic factors at newlinemicro and macro level these products have not been able to garner a widespread newlineresponse. This required a deeper evaluation of the consumer expectations, marketing newlineefforts and the policy initiatives for their promotion.The literature relating to adoption of innovation, eco-innovation, greeninnovation newlineand technology adoption was reviewed. Several definitions of these newlinethemes were reviewed like the one proposed by Cloudy (2010) wherein he defines it newlineas green product innovation is an iterative process, initiated by the opportunity for newlineenvironmental improvement of the product s physical lifecycle via a technologybased newlineinvention, which leads to the development, production and marketing tasks newlinestriving for the commercial success of the invention . It was concluded that majorly newlinethese themes are synonymous.To answer the first research question of Why are the Indian consumers not newlineadopting New and Renewable energy products? the study furthered on the objective newlineof identifying and assessing the factors affecting the customers buying decision for newlineRenewable energy technologies products for domestic use .For this purpose initially newlinethe literature related to consumer behavior was reviewed. Recent researches now newlinepoint that the new researches should be more product and situation specific, more newlinespecifically for products which involve substantially higher cost for the consumer.The review of literature related to Green Consumer Behavior brought forth a pertinent newlinedefinition from Peattie (2010) who defines green consumer behavior as, Purchase newlinechoice,