Solar Energy Technology Adoption: Select Literature Review and IndianEvidences

Abstract There has been significant research on solar energy technologies in recent years. It is observed that very little has come out of this research in terms of commercially interesting solar energy technologies. The long term perceived potential of solar energy is the key driver for technology innovation in solar industry. Earlier solar energy industry was more capital intensive. Deep pockets were necessary for manufacturing of Solar PV cells by electronics industry, but the research & development across world has now evolved into commercially available technologies. Technological development of solar photovoltaic field has been experiencing growth and now-a-days various commercially applicable solar technologies have been emerged. Two major available technologies are being used today on commercial scale are: Solar Thermal and Solar Photovoltaic. The shortage of silicon and high capital cost of photovoltaic systems has been a major driving force for these advancements. Today, the coordinated policy at national level in India is a major encouragement for development of solar industry rapidly. The launch of Jawaharlal National Solar Mission in 2009 has acted as the Flagship Project which has earned the confidence of industries in the context of seriousness of government towards development of Solar Energy in India. This paper shall primarily look into the diffusion process of new solar energy technologies in the Industry and shall analyse its business and marketing implications. The paper shall study the business and marketing practices of select national and international companies in terms of their technology enabled market offerings and shall comment on the sustainable business and marketing approach. Keywords : Diffusion of Solar Energy, Technology, Sustainable Business & Marketing