Analysis of the pivotal role of Entrepreneurship in the Solar Energy sector of India

-A focus on the Indian Renewable Market

Abstract

Renewable Energy, is considered to be the need of the hour, as the world is grappling with issues of climatic change, energy poverty and un-employability. In a developing country like India, Solar Energy holds the key to aforementioned challenges as it is abundantly available and free of cost. The Solar energy market of India, in the last decade has been growing at an unprecedented pace, with rapid developments being made in both on-grid and off-grid sector. This study highlights the pivotal role of entrepreneurship in the solar energy sector of India.  The topic of research being inter-disciplinary takes into consideration the aspects of entrepreneurial theory and the current trends in renewable energy. The quintessential role of entrepreneurship in promoting the cause of solar energy, has been analyzed using three different parameters i.e. Number of starts-up or entrepreneurial ventures conceived, the investments made in the solar energy sector and the policy incentives by the Govt. of India. This study also characterizes the current status of the solar start-ups into ideation, validation, traction and scale-up stages. It is expected that growth of the solar energy sector, catalyzed by the innovative actions of entrepreneurs will help in achieving the sustainable development along with the future energy needs.