Can bioenergy act as an entrepreneurial opportunity for the sustainable economic development of an emerging economy? A socio-technical approach

Abstract

Challenges in adopting renewable energy have become significant roadblocks to the country's sustainable progress. There is a shortage of studies examining how adopting biogas energy plants affects entrepreneurship in Pakistan's off-grid areas. This study aims to address this gap in the literature by investigating bioenergy as an entrepreneurial opportunity for the sustainable economic development of an emerging economy. Primary data comprising 305 respondents was used in Punjab Province by employing an inclusive questionnaire survey. The partial least square structural equation modeling (PLS-SEM) technique validates the model and analyzes the designated hypotheses. Empirical outcomes reveal that enhanced social and entrepreneurial prosperity adopting biogas plants, sustainable economic development of entrepreneurial businesses adopting biogas plants, and adoption in entrepreneurship improve the standard of living positively and significantly associated with intention to enhance entrepreneurship performance through biogas energy adoption. On the contrary, the production-cost reduction of adopting biogas plants in entrepreneurial businesses had no significant effect on intention to improve entrepreneurship performance through biogas energy adoption. Meanwhile, the intention to enhance entrepreneurship performance through biogas energy adoption positively mediates the relationship among enhanced social and entrepreneurial prosperity adopting biogas plants, sustainable economic development of entrepreneurial businesses adopting biogas plants, biogas plant adoption in entrepreneurship improves the standard of living, and economic development of entrepreneurial activities adopting biogas technology. Correspondingly, social media and word of mouth significantly moderate the relationships between the intention to enhance entrepreneurship performance through biogas energy adoption and the economic development of entrepreneurial activities adopting biogas energy. The results of this study show how crucial it is to change societal norms surrounding entrepreneurship, raise entrepreneurs' awareness of these issues, reform regulatory systems, and emphasize the benefits of entrepreneurial activities offered by biogas energy plants that grow entrepreneurs' standard of living. Finally, the study's limitations and recommendations for additional studies are highlighted.

Keywords: Biogas energy plants; Biogas potential; Pakistan; Renewable energy; Social media and word of mouth.