RENEWCONNECT - All about renewables & power sector

Socio-economic analysis is the systematic study of the social and economic effects of a specific intervention, product, or policy. It considers both quantitative (e.g., income, employment) and qualitative (e.g., well-being, equity) aspects. 🔍 Key Components 1. Social Factors Demographics : Age, gender, education, ethnicity. Health and well-being : Access to healthcare, nutrition, safety. Social equity : Inclusion, access to services, gender equality. Cultural norms : Traditions, community values, behavior. 2. Economic Factors Income levels : Affordability and purchasing power. Employment : Job creation or displacement. Productivity : Efficiency gains or losses. Cost-benefit analysis : Financial viability and return on investment. 🛠️ Applications Public policy : Assessing the impact of government programs. Infrastructure projects : Evaluating benefits of roads, lighting, water systems. Business strategy : Understanding market potential and consumer behavior. ...

If you are considering a solar street lighting systems that were installed in the country with some 25 lakhs at PAN level, the following steps that are to be considered for conducting a Socio-Economic study to know the impact at different beneficiaries at small, mediam and larger scale.  1. Define Scope and Objectives Product : Solar Street Lighting Systems (SSLs) Objective : Assess the socio-economic impact of SSLs installed across various Indian states (25 lakh units), including benefits to communities, economic viability, and policy implications. 2. Understand the Target Population Beneficiaries : Rural and semi-urban populations, local governments, commuters, vendors, students, and law enforcement. Demographics : Focus on areas with poor grid connectivity, low-income groups, and high public space usage. 3. Gather Economic Data Installation Costs : Capital expenditure per unit, maintenance costs. Funding Sources : Government schemes (e.g., MNRE), CSR, internation...