What besets entrepreneurs in renewable energy sector? – Insights from the Indian state of Gujarat
(2023) In International Journal of Energy Sector Management 17(2). p.209-226- Abstract
Purpose: India has acquired global leadership in renewable energy (RE) deployment because of its commitment to achieve 175 GW of installed capacity by 2022. Entrepreneurship driven by innovation and policy push is essential for energy sector transition. Despite policy focus on the diffusion of RE technology, there are several challenges that plague innovation and RE entrepreneurship development in Gujarat, India. Hence, the purpose of this study is to apply an empirical approach to identify major challenges faced by RE entrepreneurs operating in Gujarat. Design/methodology/approach: An empirical correlational analysis has been taken up to explore individual- and firm-level characteristics of 54 RE entrepreneurs in Gujarat across six... (More)
Purpose: India has acquired global leadership in renewable energy (RE) deployment because of its commitment to achieve 175 GW of installed capacity by 2022. Entrepreneurship driven by innovation and policy push is essential for energy sector transition. Despite policy focus on the diffusion of RE technology, there are several challenges that plague innovation and RE entrepreneurship development in Gujarat, India. Hence, the purpose of this study is to apply an empirical approach to identify major challenges faced by RE entrepreneurs operating in Gujarat. Design/methodology/approach: An empirical correlational analysis has been taken up to explore individual- and firm-level characteristics of 54 RE entrepreneurs in Gujarat across six districts. Moreover, challenges faced by them related to policy and market have been investigated. Gujarat has been selected as the study area, as it has an installed capacity of 11,000 MW and houses around 11% of the total RE potential of the country. Findings: Major challenges faced by RE entrepreneurs in Gujarat comprise of financial risks, market incumbency, low profitability, uncertainty of demand and lack of skilled labour. Practical implications: This study offers an empirical grounding to policymakers for fostering an ecosystem of entrepreneurship and innovation specific to RE sector in India and other developing nations. Originality/value: This study is unique, as previous studies on sustainability-driven entrepreneurship are majorly theoretical and lack empirical foundations. Moreover, there are even lesser quantitative studies exploring challenges to RE entrepreneurship specific to India.
(Less)
- author
- Haldar, Stuti LU and Tripathi, Tulika
- publishing date
- 2023
- type
- Contribution to journal
- publication status
- published
- subject
- keywords
- Correlation analysis, Emerging markets, Energy sector, Energy transformation, Entrepreneurial challenges, Entrepreneurship, Innovation, Interviews, Policy, Renewable energies, Surveys
- in
- International Journal of Energy Sector Management
- volume
- 17
- issue
- 2
- pages
- 18 pages
- publisher
- Emerald Group Publishing Limited
- external identifiers
-
- scopus:85129193016
- ISSN
- 1750-6220
- DOI
- 10.1108/IJESM-06-2021-0002
- language
- English
- LU publication?
- no
- additional info
- Publisher Copyright: © 2022, Emerald Publishing Limited.
- id
- e7a51e06-41e8-418b-9155-5bf61e978c72
- date added to LUP
- 2022-11-13 22:21:42
- date last changed
- 2023-10-26 15:00:38
@article{e7a51e06-41e8-418b-9155-5bf61e978c72,
abstract = {{<p>Purpose: India has acquired global leadership in renewable energy (RE) deployment because of its commitment to achieve 175 GW of installed capacity by 2022. Entrepreneurship driven by innovation and policy push is essential for energy sector transition. Despite policy focus on the diffusion of RE technology, there are several challenges that plague innovation and RE entrepreneurship development in Gujarat, India. Hence, the purpose of this study is to apply an empirical approach to identify major challenges faced by RE entrepreneurs operating in Gujarat. Design/methodology/approach: An empirical correlational analysis has been taken up to explore individual- and firm-level characteristics of 54 RE entrepreneurs in Gujarat across six districts. Moreover, challenges faced by them related to policy and market have been investigated. Gujarat has been selected as the study area, as it has an installed capacity of 11,000 MW and houses around 11% of the total RE potential of the country. Findings: Major challenges faced by RE entrepreneurs in Gujarat comprise of financial risks, market incumbency, low profitability, uncertainty of demand and lack of skilled labour. Practical implications: This study offers an empirical grounding to policymakers for fostering an ecosystem of entrepreneurship and innovation specific to RE sector in India and other developing nations. Originality/value: This study is unique, as previous studies on sustainability-driven entrepreneurship are majorly theoretical and lack empirical foundations. Moreover, there are even lesser quantitative studies exploring challenges to RE entrepreneurship specific to India.</p>}},
author = {{Haldar, Stuti and Tripathi, Tulika}},
issn = {{1750-6220}},
keywords = {{Correlation analysis; Emerging markets; Energy sector; Energy transformation; Entrepreneurial challenges; Entrepreneurship; Innovation; Interviews; Policy; Renewable energies; Surveys}},
language = {{eng}},
number = {{2}},
pages = {{209--226}},
publisher = {{Emerald Group Publishing Limited}},
series = {{International Journal of Energy Sector Management}},
title = {{What besets entrepreneurs in renewable energy sector? – Insights from the Indian state of Gujarat}},
url = {{http://dx.doi.org/10.1108/IJESM-06-2021-0002}},
doi = {{10.1108/IJESM-06-2021-0002}},
volume = {{17}},
year = {{2023}},
}