In the realm of Micro, Small, and Medium Enterprises (MSMEs) in India, a notable evolution is underway as these entities increasingly turn to solar energy solutions to drive both financial savings and environmental sustainability. MSMEs and Industries account for over 50 per cent of India’s total energy consumption, with a staggering annual growth rate of 7 per cent. Given the increasing demand for energy and the urgent need to manage operational expenditure sustainably, choosing renewable solutions is crucial.
Currently there are more than 6.3 Crore MSMEs in India and the number is growing rapidly, emitting about 110 million tonnes of CO2 annually. While the central government had set a target of reaching 40GW by 2030, the current installed rooftop capacity stands at less than 15W which includes both homes and business.
Many businesses are now seeing the value in harnessing solar power, not just to cut operational costs, and reduce their dependence on grid, but also to demonstrate their commitment to sustainability as part of their Environmental, Social and Governance (ESG) goals. Leading this charge are some solar companies, pioneering innovative financial solutions tailored specifically for small and medium-sized enterprises (MSMEs). These include zero-cost EMI schemes, making it easier for MSMEs to embrace solar energy and reap significant financial benefits effortlessly.
Solar energy adoption presents a compelling solution for MSMEs in India, especially with rooftop solar systems, given that India experiences a prolonged summer lasting three to six months, coinciding with peak energy demand. MSMEs, which use the maximum electricity during day time, can seamlessly integrate solar technology into their operations, capitalising on abundant sunlight to meet their energy needs sustainably.
Moreover, Rooftop solar technology has a track record of reliability and financial viability, with a minimal setup time, making it a wise choice for transitioning towards sustainability. Across the globe, both large-scale commercial and industrial (C&I) entities and MSMEs are embracing solar to contribute to their nations’ net zero goals. With India ranking fourth globally in solar energy generation, and government initiatives easing the financial burden, the transition to solar power becomes even more feasible for MSMEs, empowering them to contribute to a cleaner, greener future.
Choosing solar energy is not just a financial decision for MSMEs. It shows a commitment to sustainability and taking care of the environment. This change marks a big step towards a greener future for industries. It is all about balancing financial success with protecting our environment.
