Modeling the Drivers for Renewable Energy in Developing Economies: A Case Study of India
Abstract
Renewable energy sources provide sustainable alternatives for fulfilling the energy needs of developing economies. India, as a developing country, has taken important initiatives to promote renewable energy, driven by various factors. Increased awareness of clean energy options, growing concerns about environmental degradation, and the emphasis on Sustainable Development Goals (SDGs) are among the factors encouraging countries to consider renewable energy as a viable and sustainable alternative to fossil fuels. This paper aims to explore the key factors that facilitate the development and adoption of renewable energy as a clean and sustainable energy source. It also seeks to examine the hierarchical relationships among these enablers and analyze the connections between them. To achieve these goals, the study employs Total Interpretive Structural Modeling (TISM) and Fuzzy MICMAC approaches. The findings identify six main enablers: environmental, institutional, regulatory, economic, technological, and social factors. The TISM model reveals three levels of hierarchy among these enablers, while the Fuzzy MICMAC analysis categorizes them into driver and dependent clusters. The discussion contextualizes these results within India. The study offers significant insights for theory, management, and societal progress.