Investigating factors to promote energy: Socio-political barriers to renewable energy sector in India

Abstract

The urgent shift towards renewable energy sources in response to climate change highlights the necessity of thoroughly examining the obstacles that impede the progress of cleaner energy efforts. This study examines the socio-political barriers that hinder the expansion of the renewable energy industry in India, a nation facing the dual challenges of rapid economic growth and environmental preservation. Amidst increasing global apprehensions regarding the environment, this study employs a comprehensive analysis encompassing ANOVA, correlation, and regression to identify crucial aspects influencing the advancement of renewable energy in India. While previous studies have recognized financial limitations such as brief loan durations and significant capital expenses as substantial obstacles, our research explores the intricate interaction of several elements in greater detail. The key findings reveal substantial variations across the groups examined, providing insight into the differing degrees of awareness and concern surrounding renewable energy. Remarkably, limited connections arise between crucial factors such as awareness of renewable energy, care for the environment, and government energy policy. The regression analysis highlights the insufficiency of the variable "Development of renewable energy in India" in accurately predicting the dependent variable, thus indicating the presence of other relevant factors. India's present renewable energy capacity is only 18%, with hydro energy contributing 14%. Our research highlights the need for specific actions to address this issue. The study continues by recommending incorporating scholarly knowledge into policy development to encourage investor attraction and promote the widespread acceptance of cleaner and renewable energy solutions at both national and international levels. This research provides a detailed and insightful viewpoint to the ongoing discussion, highlighting the crucial influence of socio-political factors in determining the future direction of India's renewable energy sector.