Bengaluru, 12^th November 2024: A survey conducted by Luminous Power Technologies titled ‘Solar Spectrum of New India’ revealed that while there is significant awareness and enthusiasm about solar energy solutions in the ‘Silicon Valley of India’- Bengaluru, certain challenges are slowing down widespread adoption.

According to the survey, 72.13% of respondents rated their knowledge of solar energy solutions as high, reflecting a strong understanding of the benefits of solar energy in the city. However, only 8.31% of respondents currently have solar rooftop systems installed, indicating untapped potential in Bengaluru’s residential and commercial sectors.

Sharing her perspective about the findings, Ms. Preeti Bajaj, MD & CEO of Luminous Power Technologies, said, “As our recent survey, Solar Spectrum of New India, reveals, Bengaluru is making strides in solar energy awareness, with 72.13% of respondents showcasing high knowledge levels about solar energy solutions. However, it’s clear that there are barriers we need to address, such as initial installation costs and the perception that the city’s weather might not be ideal for solar rooftop systems. At Luminous Power Technologies, we are committed to making solar energy accessible and affordable, while also focusing on skill development to create a stronger, greener future for Bengaluru and the nation.”

Environmental benefits were widely acknowledged, with 65.28% of respondents recognizing solar energy as an environmentally friendly solution. However, initial installation costs remain a major concern for 82.35% of respondents who have installed solar systems, echoing a common sentiment across the city. Additionally, 46.94% of respondents perceive high upfront costs as a barrier to adopting solar energy.

Despite the growing accessibility of solar solutions, with 58.92% of respondents noting their availability, challenges such as weather conditions were highlighted, with 74.57% believing that Bengaluru may not offer ideal weather for solar rooftop systems.

One of the key challenges identified in the sector is the lack of awareness about career opportunities in the solar industry, as noted by 62.84% of respondents. This was closely followed by limited specialized training programs, with 24.21% highlighting the need for better education in this field. Respondents believe that stronger collaboration between the industry and educational institutions, supported by 44.50%, will be key to addressing this skills gap.

Luminous Power Technologies continues to drive innovation in energy solutions, and this survey highlights both the opportunities and the areas that need attention to accelerate solar adoption in Bengaluru. The company remains committed to supporting India’s transition to clean energy and will continue to invest in research, innovation, and partnerships to make solar energy solutions more accessible, affordable, and widely adopted.

Luminous has partnered with NBFCs like Ecofy and a leading fintech lender Credit Fair to offer affordable solar financing options to individuals, trust-run institutions, housing societies, and small and medium industries for installing clean energy systems. Luminous as part of their CSR project “Solar PV Installation Training” is also upskilling men and women across India to become solar technicians. The 400-hour course aims to provide a lucrative job avenue to the unemployed youth through development of industry-competent skills. It has been active in the states of Himachal Pradesh, Odisha, Karnataka (Bengaluru), Jammu, Haryana (Kaithal), Maharashtra (Nagpur) and Sikkim (Rangpo). The trainees, upon completion, are being provided a Skill Certificate from NSDC (National Skill Development Corporation).

Methodology

The report is based on interviews with 4,318 respondents amongst four age cohorts as mentioned below across 5 metros: Bangalore, Delhi, Hyderabad, Kolkata, Mumbai and 8 non-metros: Ahmedabad, Chandigarh, Gurugram, Guwahati, Jaipur, Kochi, Lucknow, Patna conducted between February 2024 to March 2024.

A random sample of 4258 respondents in the four age cohorts; Gen Z (age 18-22) Millennials (age 23-38) Gen X (age 39-54) & baby boomers (age 55-76) were interviewed, out of which 91 respondents were found to have solar rooftop systems. In addition to this, 60 qualified respondents of solar rooftop owners were surveyed from 3 cities of high usership.  All the findings from our survey are supported by extensive secondary research across the country.

The post Luminous Survey highlights Growing Accessibility of Solar Energy in Bengaluru, Yet Weather Perception Remains a Barrier  appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru 26 June 2024: Awareness of alternatives to traditional energy sources is on the rise among Indians. However, despite growing energy consciousness, several initiatives launched by the government, and the urgent and critical need for accessible clean energy, an analysis of the ‘Solar Spectrum of New India’ reveals that as much as 97% respondents in India do not have solar rooftop system installed in their homes.

The ‘Solar Spectrum of New India’ study, conducted by Luminous Power Technologies reflects the dichotomy wherein individuals exhibit awareness of the advantages of solar energy solutions, yet fail to embrace them.

According to the study, the top barriers to the adoption of solar power in India are:Top of Form Accessibility, Shortage of Specialized skills, and Perceived Cost Implications.

While 85% believe their city has ideal weather conditions for installing solar-powered rooftop systems, underscoring a widespread recognition of its sustainability advantages, however, nearly a quarter of the respondents (24%) say solar energy solutions are inaccessible to them.

On the front of specialized skills, 90% of respondents agree that specialized skills are necessary for the installation of solar solutions such as rooftop panels, indicating the perceived importance of technical expertise in the field. Nearly half of the respondents (45%) believe that skilled labour for implementing solar energy solutions is unavailable in their vicinity. The results indicate the gap between demand and supply of skilled personnel.

The survey further reveals that more than half the respondents perceive the top challenge to be a lack of awareness about career opportunities (52%). Furthermore, nearly one in every five respondents (19%) believe lack of company-driven initiatives to drive training. This indicates a need for industry stakeholders to take the lead in driving awareness for career-building opportunities in the solar power sector.

Cost implication

Finally, the research had some interesting findings about the perceived cost implications of solar energy adoption. This barrier is preventing consumers from awareness of the adoption phase. As the majority of respondents (58%) view solar energy as cost-effective in the long term, concerns about high initial installation costs are still prevalent among 59% of respondents.

In fact, amongst people who have not currently installed solar rooftops, a noteworthy proportion (55%) believe that the cost of implementing solar power solutions is slightly more expensive compared to traditional energy sources, and another 37% claim it is considerably more expensive. This suggests the need to build awareness of financial schemes and avenues available for consumers who are prepared to adopt such solutions but refrain due to reservations about the cost.

Elaborating on the research, Preeti Bajaj, MD & CEO, Luminous Power Technologies said, “At Luminous, we envision a future where communities across the nation come together to harness the immense potential of solar power, paving the way for a sustainable and energy-efficient tomorrow. This research aids us in understanding the changing consumer perceptions, their limitations as well as openness towards the adoption of new energy sources. The efforts must be directed towards bridging the skills gap and fostering a skilled workforce for India to unlock the full potential of solar energy and drive sustainable development across the country.”

Additionally, Luminous has partnered with NBFCs like Ecofy and a leading fintech lender Credit Fair to offer affordable solar financing options to individuals, trust-run institutions, housing societies, and small and medium industries for installing clean energy systems. Luminous as part of their CSR project “Solar PV Installation Training” is also upskilling men & women across India to become solar technicians. The 400-hour course is being initiated to provide a lucrative job avenue to the unemployed youth. It has been active in the states of Himachal Pradesh, Odisha, Karnataka (Bengaluru), Jammu, Haryana (Kaithal), Maharashtra (Nagpur) and Sikkim (Rangpo). The trainees upon completion are being provided a Skill Certificate from NSDC (National Skill Development Corporation). Under this training course, the focus lies on the development of industry-competent skills

Methodology

The report is based on interviews with 4,318 respondents amongst four age cohorts as mentioned below across 5 metros: Bangalore, Delhi, Hyderabad, Kolkata, Mumbai and 8 non-metros: Ahmedabad, Chandigarh, Gurugram, Guwahati, Jaipur, Kochi, Lucknow, Patna conducted between February 2024 to March 2024.

A random sample of 4258 respondents in the four age cohorts were interviewed, out of which 91 respondents were found to have solar rooftop systems. In addition to this 60 qualified respondents of solar rooftop owners were surveyed from 3 cities of high user ship.  All the findings from our survey are supported by extensive secondary research across the country.

The post Luminous Power Technologies’ ‘Solar Spectrum of New India’ research reveals mixed perceptions for solar energy adoption appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.