The benefits of solar and solar panel installation are well known by most of us. The numerous benefits like cost saving, greater ROI and long life span are highlighted time and again by every player in this industry around the world.
Despite all of these benefits, why is it that enterprises, specifically in the small and medium category, are hesitant to invest in solar panels?
There is clearly an existing gap which needs to be bridged in order to fulfill our goal. The government of India has set a target of building 40 GW of rooftop solar capacity by 2022 and the SME category is expected to contribute significantly to achieving this goal.
However, a report named ‘Scaling up rooftop solar in the SME sector in India’ done by Deloitte and Climate Investment Funds (CIF) clearly highlights the significant gaps that exist, which pose multiple challenges in achieving our set target.
“The survey, ‘Scaling Up Rooftop Solar in the SME Sector in India’, was conducted by across 150 MSMEs in six industrial clusters in in Hyderabad, Ahmedabad, Gurugram, Chennai, Jaipur and Thane, including rubber and plastic, pharmaceuticals, automobiles, paper, food and beverage, and textile.” (Source: Financial Express)
“Limited access to finance, need to strengthen awareness, and escalating energy expenses are impacting the long-term profitability, competitiveness, and sustainability of the sector. However, it presents great opportunity, and a multi-pronged approach involving supportive regulations, risk-bearing financing, and awareness building is needed to demonstrate viability and help scale up rooftop solar in the sector,” says Abhishek Bhaskar, Energy Specialist, CIF. (Source: Construction Week)
While most of us are aware of the benefits of solar panels, there is an existing lack of awareness around the financial provisions available.
“Most of the MSME owners are unaware of rooftop solar schemes and financing options. For instance, in the paper industry 78 per cent enterprises don’t know of this, 76 per cent in textiles, 84 per cent in plastics, and 76 per cent in pharma.” (Source: Down to Earth)
At SunEdison Infrastructure, we strive to overcome these challenges by offering specific solutions to each one of them.
Limited access to finance – We offer easy EMI options which will allow our customers with an ease of payment cycles over a long period of time. In addition to this, our tie ups with various financial institutions offer attractive discounts which can be availed. If a customer has an existing home loan with these selected financial institutions, then a top up on the same loan can be done for our solar panels as well. Many enterprises complained about high interest rates, lengthy processing time of loans and time consuming documentation as well. At SunEdison, we solve this problem for you by taking care of all the permits and paperwork involved and help you top up on existing loans which are time saving as well.
Need to strengthen awareness – There are multiple myths around the working of solar panels in the monsoon season, the time and effort required, the steps in installation processes.
We aim to break these myths and provide as much clarity as possible on our offerings and generic information around solar panels to negate this challenge. Our weekly blogs and our social media campaigns are targeted towards the same.
For more information, please visit our website – www.sunedisoninfra.com