Solar start-ups: The time is now

Solar start-ups: The time is now

Last year the pandemic hit India like no-other country. With a complete lockdown starting March-April extending for months, all the economic activities came to a dead halt. Naturally, this translated to a plummet in the energy demands. This came as a boon to the renewable energy sector.

Year 2020 saw the most favorable new policies and policy amendments for the RE sector specifically solar sector in India. Gujarat launched a ‘New solar policy’ which largely helped consumers (Domestic and industrial) set up power projects for their consumption or subsidized solar energy from grid. Increased no. of tenders released for solar projects for domestic as well as neighboring countries suggests that the demand side rightly used this opportunity to adopt to cleaner energy sources and move away from coal-based/traditional power sourcing.

In the fall of 2020, Minister of MNRE announced, “India will soon tighten provisions for imports of solar equipment in order to encourage more domestic manufacturing”. This, in conjunction with central PLI schemes in place is the right mix for the budding solar startup ecosystem in India. With an aggressive target of 100GW of solar power by 2022, and govt. aggressively to promoting domestic manufacturing, there is an abundance of opportunities for new as well as existing players in the sector.

Budget 2021-22 included substantial provisions for the renewable sector. AtmaNirbhar Bharat –Production Linked Incentive scheme (PLI) directs to set-up direct funding for high efficiency modules to boost local raw material sourcing for the same. The PLI will be given on (Rs/Wp) basis to high efficiency solar modules. Capital Augmentation via an equity infusion of 1000 Cr to SECI, which will be used to release more tenders for solar implementation in various regions and sectors. To put SECI’s work in perspective, 47,000 MW of capacity with an investment of Rs.2.14 lakh Crore (approximately) have been awarded by SECI and 27,000 MW of the projects are under implementation via SECI.

In India, there is an increasing awareness about the environment, which has gradually fueled the transition from traditional to renewable energy. However, the solar sector has benefitted the most by this just because of the feasibility of setting up a solar PV system as compared to other RE sources. Moreover the govt. has also started realizing the huge potential in the solar sector in terms of generating employment (skilled-unskilled), reducing production costs of MSMEs, better access of amenities using solar utilities in rural India and achieving various climate milestones as promised in various meets such as COP25, Paris agreement etc. All one needs now, is the vision for execution and a will to implement to go forth with new ideas in this sector.

SolarMarts, in these regards, eases your burden of forming up the right team by finding the right talent. Companies can register on the platform with job openings to connect with the right talent from the able workforce looking for a career in the solar sector. Companies can also list their innovative products on the SolarMarts platform so as to get adequate exposure for their new products. One can also get connections to various solar equipment manufacturers/distributors/dealers via the platform. India’s govt. and the industry are playing their part in the new solar chapter of India, and SolarMarts is just bringing them both together.

 

Author

Nupur Shah

A passionate renewable energy consultant with 7+ years of extensive experience in client management and co-founder of SustainBhoomi Renewable & EV Consultancy LLP