Enterprises all over the country are going through solar power transition. And this exceptional rate of solar adoption is proof enough that enterprises want to reduce their carbon footprint and increase their carbon credits.
In July 2009, the European Union and G8 proposed an objective to reduce greenhouse gas emissions by at least 80 percent from the 1990 level by 2050 to combat climate change. Their announcement has made a pathway for Europe to lower their carbon emission. India is trying something quite similar- since 1990, it has improved access to electricity by 25%. The current policy for renewable energy aims at boosting the solar grid capacity from approximately 24GW to 100GW by the end of the year 2022.
When an enterprise chooses to go solar energy, they incorporate a strategy which is expected to offer greater business value through better performance in societal, ecological and financial frameworks. Simply put, it maximizes returns through proposing better solutions for the planet. A few Indian enterprises are shifting towards solar energy like Jindal Aluminium Limited, Century Plyboards, Anmol Biscuits Ltd., SL Group, IMFA, IOCL, HPCL, etc.
There are a number of deciding factors for enterprises to go solar energy;
- Energy Requirement: The energy needs are quite higher for a mid-sized to a large enterprise. Even SMEs need constant power to thrive. As the fossil fuel pool depletes, and population growth rises, traditional energy circulation is going to get erratic. During such scenarios, adopting solar panel system seems to be a smart move, as it can offer uninterrupted energy supply
- Energy Expenses: Traditional energy costs are rising considerably, carving out huge chunks of money from enterprise’s profits every quarter. During such scenarios the best way to save on power costs is to generate power on your own, where solar becomes a viable option, thus saving cost in the long run while sufficient energy needs
- Carbon Emission: Solar power can help lessen carbon emissions, making it a necessity for enterprises now. Factually speaking, 1 kW of green energy can reduce 1360+ kgs of CO2 annually, solar energy remains the best option for enterprises to utilize whilst restoring the climate
- Affordability: In the same breath, we need to highlight that the cost of buying and installing solar panel has decreased considerably in the last 5 years, making solar energy installation more affordable
Blockades on the road
In these cases, confusion surrounds policies concerning commercial use of renewable energy. Components that should support the growth of solar energy, are surprisingly causing hindrance. For example, charging a cap on net-metering capacity, distribution infrastructure, and efficient energy evacuation, obstacles in getting Government approvals are getting in the path to solar growth.
The current scenario clearly shows that the commercial sector is pro-green energy transition. So, it is time for the government and enterprise frontrunners to work together in order to illuminate the nation.