A service-based business model for rapid diffusion of solar water heaters in India Online publication date: Tue, 27-Mar-2018
by Auroshis Rout; Sudhansu S. Sahoo; Sanju Thomas; Shinu M. Varghese
International Journal of Energy Technology and Policy (IJETP), Vol. 14, No. 2/3, 2018
Abstract: Commercialisation of decentralised renewable energy products is a key challenge across the globe. This paper proposes an innovative business model to handle this issue. When this model was applied to a solar water heater along with porter's five force approach, business opportunity was found. Though solar water heater is expensive, it is a technically and economically viable option. The unique selling proposition of this innovative business model is formation of a new service based company which will invest in installation and maintenance of solar water heaters and collect money from the end users on a monthly basis just like electricity bill. The service is being provided at 10% discount rate to electricity, in case used for heating water. So the main issue behind adoption of solar water heater, high capital cost has been resolved. This model can be considered as a platform for energy policy makers in developing countries like India.
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