Mercom Capital Group,
llc, a global communications and consulting firm, today released results of a consumer
awareness study on renewable energy focused on gauging people’s and businesses’
perception and attitudes toward non-conventional sources of energy in India. Over
1,700 residential and commercial and industrial customers were surveyed.
The “India Consumer Perceptions on
Renewable Energy Survey,” conducted by Mercom Communications India, a
wholly-owned subsidiary of Mercom Capital Group, found that power cuts have a
moderate to major effect on more than 93 percent of businesses polled.
Calling for an uninterrupted supply of
electricity, a whopping 94 percent of commercial establishments that took part
in the survey said steady power supply could bring a moderate to great
improvement in their businesses.
Raj Prabhu, CEO and Co-founder of Mercom
Capital Group, commented, “Not only is
this a significant finding, but it is a wake-up call and erases any doubt of
the impact power cuts are having on businesses. Improving the power shortage
situation is urgently needed if we want to see greater economic growth in India.”
About 65 percent of surveyed businesses
rely on backup diesel generators during power cuts, while 22 percent of those
who didn’t have a backup generator said they were considering one. As many as
74 percent of commercial survey respondents said they favor consistent power
without cuts more than they favor low cost, while for 26 percent cheaper power
is more important.
The poll highlighted that solar has emerged
as the most recognized source of renewable energy, with 91 percent of
commercial respondents and 83 percent of residential respondents being familiar
with it. Nearly 58 percent of both groups strongly favor solar energy as a
future source of energy generation for India.
The environment was underscored as the most
important benefit of solar energy by 71 percent of commercial and 65 percent of
residential respondents. Nearly half of all respondents said that it is very important
for India to develop and generate more solar power.
When asked about other sources of energy,
both commercial (47 percent) and residential (39 percent) respondents had a
mostly neutral impression of coal as an energy source. The findings were
similar for nuclear energy, with 41 percent of commercial and 32 percent of
residential respondents having a neutral view.
The survey revealed that only six in 10 (59
percent) commercial respondents were aware of the government-backed subsidy
programs for renewable energy. Awareness among residential respondents was at
45 percent. The survey results also highlighted that only 30 percent of
commercial respondents and 21 percent of residential respondents were familiar
with the Bureau of Energy Efficiency (BEE label) products and their benefits.
During the survey, nearly 90 percent of
both commercial and residential consumers urged the government to introduce
more subsidy schemes.
Prabhu commented, “Though solar was the
most recognized energy source, favorability numbers weren’t as high as they
could be. Coal, on the other hand, had a high percentage of neutral and no
opinions. Generally we found a lot of opportunities for the renewable energy
industry to invest in educating and informing consumers and differentiating renewables
from fossil fuels in a country that is hungry for power of any kind.”
The survey was conducted by Mercom
Communications India in partnership with the BMS College of Engineering and the
University Visvesvaraya College of Engineering in Bangalore, the Institute of
Management Development and Research in Pune and the Lalbhai Dalpatbhai College
of Engineering in Ahmedabad.
Click here for a copy of the survey: India Consumer Perceptions on Renewable Energy
About Mercom Capital
Mercom Capital Group, llc, is a global
communications and consulting firm focused on Healthcare IT, cleantech and
financial communications. Mercom’s consulting division advises companies on new
market entry, overall strategic decision-making, and provides custom market
research. Mercom delivers highly respected industry market intelligence reports
covering Healthcare IT, Solar Energy, Wind Energy and Smart Grid. Our reports
provide timely industry happenings and ahead-of-the-curve analysis specifically
for C-level decision making. Mercom’s communications division helps companies
and financial institutions build powerful relationships with media, analysts,
local communities and strategic partners. For more information about Mercom
Capital Group, visit: http://www.mercomcapital.com. To
receive Mercom’s popular market intelligence reports, visit: http://mercomcapital.com/market_intelligence.php.