Financial Feasibility of Rooftop Solar Energy Households in Mysuru City: A Perceptual Study
MANJESHGOWDA D B
*
DOS in Commerce, Hemagangotri PG Centre, University of Hassan, India.
T.S. DEVARAJA
DoS in Commerce, Hemagangothri PG Centre, University of Mysore, Hassan, Karnataka, 573226, India.
*Author to whom correspondence should be addressed.
Abstract
The financial feasibility of rooftop solar energy for urban households is a significant driver of its adoption. This study investigates the financial viability of rooftop solar energy systems for urban households in Mysuru, focusing on awareness of government subsidies, demographic influences, long-term financial perceptions, and adoption barriers. A quantitative descriptive research design with a sample size of 80 households was employed, using structured questionnaires and statistical analyses like one-sample t-test and regression. Findings reveal that awareness of financial incentives significantly boosts adoption, while high upfront costs remain a key deterrent. Household income strongly influences perceived viability, whereas other demographic factors show limited impact. Perceptions of long-term savings and ROI motivate adoption, with assurance of payback within 7–10 years being pivotal. The study emphasizes the need for targeted awareness programs, streamlined subsidy access, innovative financial models, and cost reductions to enhance adoption rates. These insights underscore the importance of addressing financial barriers and promoting informed decision-making to accelerate the adoption of rooftop solar energy in urban households.
Keywords: Rooftop solar energy, financial feasibility, Government subsidies, adoption barriers, Return on investment (ROI)