Wednesday, February 22, 2012

Knocking on the doors of a US$ 14 bn solar business opportunity

REECODE Energy Solutions, a Mumbai-based boutique solar energy consulting firm, has launched a year-long programme to create awareness amongst end-users and industrial users about solar power becoming cheaper than some fossil fuels like diesel and furnace oil in India. This segment of users offers a US$ 14 bn solar business opportunity.

The first of the programme was part of a seminar on green and sustainable architecture with the Indian Institute of Architecture in the city of Nasik in western India.

The second exclusive seminar focussing on cashflow projections comparing cost of diesel and solar energy solutions will be held for the members of Tarapur Industrial Manufacturers' Association and Tarapur Management Association in the industrial township of Tarapur, Boisar in the Thane district of Maharashtra state.

REECODE Energy Solutions seeks to enable large consumers of power, particularly in regions where power shortage compels them to use fossil fuels for power generation and boiler applications, to explore solar energy solutions to bring down their costs and increase productivity at their units.

The firm's CEO Bhupesh Trivedi said that India has over 100,000 industrial users with diesel (or other fuel) gensets having rated capacities of over 100 kva. Now that solar energy solutions have become cheaper, this diesel-offset market creates an opportunity of US$ 14bn for solar solution providers.

End-users continue to largely believe that the capital costs relating to solar solutions are prohibitively expensive. Through the awareness programme and cashflow projections, Bhupesh expects give a greater fillip to the entire solar market.

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