Factors influencing purchase intention of solar photovoltaic technology: An extended perspective of technology readiness index and theory of planned behaviour

Abstract

Energy shortage in various parts of the world has an adverse impact on people's quality of life and the overall development of these areas. Pakistan is among the world's energy-deficient countries, with a 7000 MW (Mega-Watt) energy deficit due to higher energy demand and lower energy production. Because of its hot climate, Pakistan has great potential to meet its energy needs using renewable energy (RE) sources, particularly solar photovoltaic (PV) technologies, to boost clean energy production. Considering this, the current study investigates the factors influencing households' purchase intentions of solar PV technology in Pakistan. This research has developed a comprehensive research model by integrating the Technology Readiness Index (TRI) and Theory of Planned Behaviour (PTB). Data from households were collected using a questionnaire survey method. This was a cross-sectional study that used a non-probability sampling technique. In four provincial capitals (Karachi, Lahore, Quetta, and Peshawar) and the federal capital (Islamabad), 420 questionnaires were distributed to household heads. Smart PLS 3.0 was used to test the hypotheses proposed by decomposing personal traits (product knowledge, environmental concern, ecological lifestyle, and perceived benefits) and technological factors (technology innovativeness and technology optimism) and examining their impact on consumers' attitudes toward solar photovoltaic products. This study also examined the role of perceived consumer effectiveness as a moderator between consumers' attitudes toward solar photovoltaic products and purchase intentions. The empirical findings showed that product knowledge, ecological lifestyle, perceived benefits, innovativeness, and optimism positively and significantly impact consumers' attitudes toward solar photovoltaic products. Likewise, consumer attitude has a positive and significant impact on purchase intention of solar PV products. Subsequently, the moderating role of perceived consumer effectiveness in the relationship between consumer attitudes and purchase intentions of solar PV products was also significantly correlated. Finally, the theoretical and practical implications of the study, as well as its limitations and future directions, are discussed.