Assessing the competitiveness of Indian solar power industry using the extended Five Forces Model: a green innovation...

India's demand-supply imbalance electricity market results from the country's rapid population growth and extensive industrialization. Due to increased costs, many residential and commercial customers have difficulty paying their electric bills. Households with lower incomes are confronted with the most severe energy poverty in the entire country. A sustainable and alternative form of energy is required to solve these issues. Solar energy is a sustainable energy choice for India; however, the solar industry faces many issues. One of them is managing end-of-life cycle photovoltaic (PV) waste, as massive deployment of solar energy capacity has resulted in generating large amounts of PV waste, ultimately affecting environmental and human health. Therefore, this research employs "Porter's Five Forces Model" to analyze the factors that significantly impact the competitiveness of India's solar power industry. The inputs for this model consist of semi-structured interviews conducted with experts in the solar power industry on various solar energy-related issues and a critical analysis of the national policy framework using the relevant literature and official statistics. The impact of five significant stakeholders of the solar power industry on solar power generation in India is evaluated: buyers, suppliers, competitors, substitutes, and potential competitors. Research findings indicate the Indian solar power industry's current status, challenges, competition environment, and future estimates. This study will help the government and stakeholders to understand the intrinsic and extrinsic factors affecting the competitiveness of the Indian solar power sector and suggest policy recommendations to formulate procurement strategies that promote sustainable development within the solar industry.