Solar Rooftop

Eastman Auto & Power plans to achieve turnover of Rs 10,000 cr by FY26

Solar rooftop solutions provider Eastman Auto & Power Ltd on Thursday said it plans to achieve a turnover of Rs 10,000 crore by 2025-26 aided by capacity expansion on renewal energy side. The company had posted a turnover of about Rs 3,600 crore in 2023-24, according to a statement. Committed to sustainable and profitable growth, the company plans to achieve Rs 10,000 crore turnover by 2025-26 by investment in building the solar rooftop solutions business alongside mainstay Last Mile E-Mobility Solutions business, Eastman Auto & Power MD Shekhar Singal said in the statement. This goal shall be driven by strategic investments in new power electronics manufacturing facilities for solar inverters (for grid-connected and off-grid solutions), technology partnerships and participation in multiple advanced chemistries for energy storage, he said. To achieve this objective, the company has made some top level changes. The company has appointed Ashok Jain as Chief Finance Officer (CFO)

Tata Power Solar Systems partners with BoI for EV charging stn financing

Tata Power Solar Systems Ltd (TPSSL) on Friday said it has partnered with Bank of India (BOI) to facilitate easy financing for rooftop solar installations and establishment of electric vehicle (EV) charging stations. The partnership is a significant milestone with Tata Power Solar becoming the first solar company to collaborate with BOI for both solar and EV Charging Station financing and strengthening its leadership as a green energy solutions provider, a statement said. This collaboration supports the government's initiatives to promote rooftop solar installations, targeting a wide spectrum of customers, including residential users under the PM Surya Ghar Yojana, housing societies, and Micro, Small, and Medium Enterprises (MSMEs). Under the PM Surya Ghar Yojana, residential customers seeking to install solar systems up to 3 KW can avail loans up to Rs 2 lakh with only a 5 per cent margin money requirement. These loans are offered at an attractive interest rate of 7.10 per cent pe

High installation cost barrier to adopting solar rooftop power: Report

High cost of installation and lack of skilled workforce are among the top three barriers to adoption of rooftop solar power in India, according to a survey. The survey was conducted by Luminous Power Technologies, involving 4,318 respondents from 5 metros and 8 non-metro cities. About 90 per cent of the respondents of 'Solar Spectrum of New India' survey acknowledge the need for specialized skills in solar panel installation, and 45 per cent believed skilled labour is unavailable locally. "The top barriers to the adoption of solar power in India are shortage of specialized skills, perceived cost implications and accessibility," it said. The study further said that around 59 per cent respondents have concerns over high initial installation costs. "A noteworthy proportion believe that the cost of implementing solar power solutions is slightly more compared to traditional energy sources," it said. This suggests the need to build awareness of financial schemes and avenues available f

ESAF SFB to focus on solar rooftop and electric vehicle financing

Climate change remains a significant risk factor for the bank due to its impact on agriculture-dependent customers

Grid connected solar inverter new addition to standards and labeling scheme

The Bureau of Energy Efficiency (BEE) has added a grid-connected solar inverter to the Standards and Labeling Program, which will help consumers get better-quality products for use as part of solar rooftop systems, a statement said on Friday. The BEE under the Ministry of Power, has come out with one more Standards and Labeling Program, which aims to help consumers make informed choices considering the cost-effectiveness and energy performance of various energy-consuming appliances, thus enabling them to save energy, reduce electricity consumption and also contribute to a greener planet, a power ministry statement said. The program will help consumers in getting better-quality inverters which can be used as part of the solar rooftop system. Union Power and New & Renewable Energy Minister R K Singh said, "The S&L Programs of BEE have resulted in reduction in carbon dioxide emissions by 60 million tonnes per annum." "The other advantage is that we save money, given the quantum ..

Power on the rooftops

The scheme must address structural problems too

Cabinet approves Rs 75,021 crore rooftop solar scheme for 10 mn households

The Cabinet approved the PM-Surya Ghar Muft Bijli Yojana on Thursday, aiming to install rooftop solar panels in one crore households at a total cost of Rs. 75,021 crore

Cabinet approves Rs 75,000 crore rooftop solar scheme for 10 mn households

It will provide free electricity of up to 300 units every month to 10 mnhouseholds

FM talks up green energy, proposes rooftop solar power for 10 mn homes

Interim Budget proposal will save up Rs 18,000 annually for households, says Nirmala Sitharaman

Rooftop solar capacity increased 6.35% to 485 MW in Jan-Mar: Mercom

The rooftop solar capacity in India increased by 6.35 per cent to 485 megawatt (MW) in the January-March quarter of this year, according to Mercom India. In the January-March period of calendar year 2022, the rooftop solar installation capacity in the country was at 456 MW, the research firm said on Friday. India's cumulative rooftop solar capacity was approximately 9.3 gigawatts (GW) at the end of Q1 2023. On a quarter-on-quarter basis, at 485 MW, rooftop solar capacity addition was marginally up by 0.4 per cent compared to 483 MW in Q4 2022, Mercom India said. According to its 'Q1 2023 Mercom India Rooftop Solar Market Report', nearly 58 per cent of capacity was added by residential consumers in Q1 2023, while industrial and commercial consumers accounted for 28 per cent and 14 per cent, respectively. In Q1 2023, rooftop solar accounted for 26 per cent of total solar installations. "After ups and downs in 2022, we are beginning to see steady growth in rooftop solar driven by so

Lack of clear-cut policies slow down solar rooftop projects, say experts

Discoms feeling uncomfortable with increasing solar footprint, policies governing solar energy sector being unclear, and slow uptake of rooftop solar power systems -- these are some of the issues holding back the growth of solar energy in the country. In a webinar organised by the Centre for Science and Environment (CSE) on Wednesday to better understand net metering for consumers in India, which is considered crucial for increasing private investments in solar energy, experts discussed the various problems affecting the sector and the way forward. Explaining the concept of net metering while moderating the online discussion, Maitreyi Karthik, deputy programme manager of renewable energy at CSE, said it applies to consumers who have a grid connection with enough rooftop space and load available at a particular location. One of the participants, bureaucrat Manu Srivastava pointed out that power consumers are currently facing a number of problems that has slowed down the growth of sol

Uttar Pradesh to develop solar energy rooftop projects on govt buildings

The Uttar Pradesh government has decided to develop solar rooftop projects on government and semi-government buildings and offices in the state as part of its new renewable energy initiative

India adds record high rooftop solar capacity of 521 MW in April-June

India has added 521 MW of rooftop solar capacity in April-June this year, which is the highest capacity installed in a quarter, according to Mercom India report.

Radiance Renewables buys Azure's solar rooftop assets for Rs 536 cr

This is one of the largest acquisitions of rooftop solar assets in India, the company said

Gadkari urges MSMEs to avail concessional finance and install rooftop solar

Union minister Nitin Gadkari on Friday invited MSMEs to avail concessional debt finance to install rooftop solar for business efficiency. The Minister for Micro, Small and Medium Enterprises (MSMEs) and Road Transport & Highways said rooftop solar offers an excellent value proposition to MSMEs by significantly bringing down cost of electricity consumption, which on an average, is up to one-fifth of their operations cost. Addressing a programme virtually, Gadkari said, "I believe there is a strong business case for MSMEs to install rooftop solar and achieve significant savings to achieve the cost-competitiveness. I am confident that MSMEs will stand together in generating and consuming solar power using their rooftops." The minister observed that a large amount (average Rs 8 and higher per unit) is being paid by the MSMEs for power consumption, which contributes to up to one-fifth of the overall production costs. "To assist MSMEs in implementing rooftop solar projects, the ministry

India needs to prioritise solar rooftop among two key users, says report

The analysis showed that the housing societies or similar residents' groups could play a major role in ensuring the uptake of rooftop solar

Solar rooftop player ZunRoof now in 50 cities after entering three in south

Firm will offer residential solar rooftop solutions to independent homeowners and SMEs in Chennai, Hyderabad and Kochi

Solar rooftop installation at record 1,538 Mw in year to September: Report

It said rooftop solar capacity is expected to touch 15.3 Gw by March 2022 in a status quo scenario

ReNew, Hero among 31 in race for Madhya Pradesh solar rooftop tender

Over 60 prospective bidders from across the country attended pre-bid meetings for the tender that is expected to be finalised next week

With 4 years to go, India yet to install 94% of targeted solar rooftops

India has installed just about 2,538 megawatt (MW) of the targeted 40,000 megawatt (MW) of rooftop solar power capacity by 2022