About 50 percent of Gen Z Favors Solar Solutions: Survey
Luminous Power Technologies reveals significant challenges and perception gap regarding the accessibility of solar energy solutions among different demographics in India.
September 05, 2024. By News Bureau
The study showcased awareness of alternatives to traditional energy sources is on the rise among Indians. As much as 97 percent respondents in India don’t have solar rooftop system installed in their homes. In terms of accessibility, the survey reveals that 28 percent of baby boomers (age 58-76) consider solar energy solutions inaccessible, while millennials report the least difficulty, with only 21 percent expressing concerns. Gen X and Gen Z follow closely, with 23 percent and 25 percent respectively indicating inaccessibility.
Most of the respondents agreed that the shortage of specialized skills and skilled labour is a major roadblock for a seamless transition to solar solutions. 90 percent of respondents both males and females stated the installation of solar solutions such as rooftop panels need specialized skills. Additionally, 57 percent women and 41 percent men state that skilled labor is not available in their area for implementing solar energy solutions.
This indicates a need for industry stakeholders to take the lead in driving awareness for career-building opportunities in the solar power sector.
On the front of cost implication, the research highlighted some insightful findings revealing that the perception around high installation costs associated with adoption of rooftop solar remain a significant barrier to its seamless adoption. 92 percent of Gen Z, 92 percent of Gen X & 92 percent millennials perceive the cost of implementing solar power solutions is expensive compared to traditional energy sources. Notably, 41 percent of non-solar rooftop-owning millennials are aware of the solar financing options, compared to 38 percent Gen X. Additionally, 84 percent of millennial solar rooftop owners received financing and insurance options, contrasting with 58 percent Gen X.
A detailed analysis on the cost analysis further noted that men’s perception of both short-term and long-term costs is markedly higher than that of women. 61 percent of men believe that solar energy involves high initial installation costs, compared to 51 percent of women.
Elaborating on the generational findings around cost implication of solar solutions, Preeti Bajaj, MD & CEO, Luminous Power Technologies said, “As an energy solutions player, our job is to gauge the market sentiment, which entails us to have a thorough understanding about the rising energy needs of homes and offices. Since the spending power of a consumer is on a rising trajectory, we foresee the need to own smarter home appliances. The consumers will be inclined on living a cost effective decarbonized life.”
Preeti adds, “Owing to this shift in needs and demand trends, ‘Solar spectrum of New India’ gave us a clear picture to understand the changing consumer perceptions, limitations and opportunities that remain unaddressed around the sphere of solar energy adoption. It is our responsibility as industry players to direct our initiatives in bridging the skill gap, awareness and providing a support towards creating more viable solar financing options for the consumers.”
In order to unlock the full potential of solar energy the government has already taken the lead and announced a revolutionary initiative like PM Surya Ghar Muft Bijli Yojana. Additionally, the Union budget also favoured the indigenous production of solar panels, cells by proposing to expand the list of exempted capital goods used in the solar panels manufacturing.
please contact: contact@energetica-india.net.
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