In India, a change in the consumption pattern has been observed among the industrial energy consumer since the past few years as they are shifting towards renewable energy sources for fulfilling their energy requirement. This study has used the theory of customer value to determine factors supporting development of industrial consumers’ relationship with green energy. Under the current scenario of climate change, it has become inevitable to maintain customers’ loyalty towards green energy. Perceived switching cost is a vital strategic tool for increasing customer loyalty towards a product or service. Therefore, in this study, the effect of various dimensions of customer value on perceived switching cost is examined in an industrial green energy market setting. Structural equation modelling technique is used to analyse data collected from 126 organisations by questionnaire survey. The results show that conditional value of green energy is having highest impact on perceived switching cost followed by functional value, social value, and emotional value.