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In an exclusive interview with SolarQuarter India, Mr. Hiten Parekh, Chief Business Officer at SolarSquare Energy Pvt. Ltd. threw light on the expected growth of the solar rooftop market in India in the coming years.
1. Can you brief our readers about the services you provide?
SolarSquare Energy is one of the top Solar EPC players in the country with more than 80+ MWp portfolio.
We have had the privilege of supporting institutions like Aditya Birla Group, TVS Group, Prestige Group, Varroc Group, D’Decor, LNJ Bhilwara Group, Nahar Group, Johnson & Johnson, Emami, Monginis Foods, Trident Textiles, Wellknown Polyesters, Windwell group, American International School, KP Group, NM Foundation… go solar.
Our founders are ex-IITians with previous work experience in Technology, Investments, and Business Advisory having experienced engineering teams. With a project portfolio across 17 states in India, we are one of the leaders in adopting state-of-the-art latest technologies in modules and inverters.
2. 2020 has been volatile. Can you give us an insight of the highs & lows of the company?
Yes, surely 2020 has been a testing year on multiple fronts. When the going gets tough, the tough get going, the company pivoted the business focus areas and championed new frontiers which helped to secure substantial business. Challenges were plenty during the year, disruption of supply chains, price escalations not only on materials, but on freights and logistics too. Imposition of lockdown impacted site visits and management discussions, significantly dampening project pipeline.
Businesses have thereafter focused primarily on ramping up production/operations, which temporarily pushed rooftop down the pecking order.
3. Where do you think the most significant growth will occur in the company in the next few years?
In my opinion innovation in business models and speed to market with the right product fitment, with laser sharp focus on customer delight and obsession for quality will enable delivery of strong returns for the industry at large. In the short term, we anticipate C&I customers to be the growth engines of rooftop solar, which have remained the safest options with larger ticket size per project. We foresee significant growth opportunities in tier 2 cities and institutions, which would need to be triggered through aggregation of capacities preferably offered through centralised procurement.
4. Are there any specific reforms that you would like to see in the Indian sector?
The sector would be revolutionised if the energy consumer could be offered a choice to pick/switch his service provider and renewable energy as easily as procuring internet data. The budget offered a glimpse of retail competition in distribution, however consumers should be empowered to select their procurement mix. Business as usual shall be an injustice to sectors like solar rooftop and innovations like Peer to peer trading, virtual net metering should be encouraged to accelerate adoption of solar rooftop. The grids should transition from one way flow to a hub where consumers are also producers. We are also at the cusp of Electric vehicle adoption and encouragement to rooftop solar will be instrumental for balancing the grid.
5. How do you see the rooftop market growing in India over the next 5 years?
I am a strong believer in the distributed energy resources concept. And pretty bullish that this will continue to be a double digit growth area and multi GW’s will be delivered in the coming 5 years.