RENEWABLE ENERGY

COVID-19 may accelerate switch to solar energy

The COVID-19 pandemic is likely to fasten the pace of switch to solar energy, especially for rooftop systems, with prospective customers in both residential and commercial/industrial segments looking at ways to cut down expenditure, a top executive of a solar firm said. “People working from home are seeing their electricity bills shoot up substantially [with] air-conditioners running, electricity to run computers… that is driving lot of demand from that customer segment,” Saurabh Marda, MD of Freyr Energy, said.

On the commercial/industrial side, contrary to the expectations of a slowdown in demand, “what we are seeing is enquiries coming from customers saying for the next 1-2 years growth is not going to be our focus, so we want to find ways to reduce cost. Energy costs is one item where companies are willing to look at spending their money to start saving on energy expenses,” Mr. Marda said.Addressing a virtual press conference on the launch of a customer facing mobile app, Mr.Marda sounded upbeat on the prospects. Without divulging numbers, he said Freyr Energy was on track to do more business. “In the first quarter we met the [business] target,” he said, adding it was more or less same like the corresponding period last fiscal. The only difference, however, was “we did it in six weeks as we did not have three months [because of lockdown].”

Source
The Hindu
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