CXOToday has engaged in an exclusive interview with Pashu Gopalan, Chairman & CEO, Fenice Energy
- What have been the key hits in India’s solar energy sector over the past year?
PM Surya Ghar Yojana with an investment budget of ~75,000 crores is the highlight of the Indian renewable energy industry. The Yojana focuses on empowering households to adopt solar energy, contributing to India’s broader goals of sustainability and energy independence. This initiative is expected to accelerate the deployment of solar panels across the country, reduce carbon emissions, and create numerous job opportunities in the green energy sector.
- What were the key achievements of the company over the past year?
Fenice Energy has built a completely digital platform and delivered reliable high quality solar solutions to thousands of customers in India.
- How do you see the residential segment is faring in the upcoming years, considering the new solar programs proposed by the government?
Residential solar has a market TAM of more than 600 GW. We are just beginning the revolution where every household will convert to Solar.
With initiatives like the PM Surya Ghar Yojana and other supportive policies, we’re at the early stages of a solar revolution, where solar energy is expected to become a common feature in households across the country. As more homeowners recognize the long-term cost savings and environmental benefits of solar power, there is likely to be a rapid increase in adoption. This shift will not only help reduce the country’s carbon footprint but also contribute to energy self-sufficiency at the household level.
- In what ways has the policy and regulatory framework of the PM Suryodaya Yojana supported your company’s growth in the solar energy sector?
The policy and regulatory framework of the PM Suryodaya Yojana have significantly bolstered our company’s growth within the solar energy sector. While it is still premature to quantify the exact impact, the initiative has effectively catalyzed widespread participation in the solar rooftop industry, attracting a substantial influx of stakeholders.
- How has the PM Suryodaya Yojana enabled your company to engage with rural communities and contribute to their development?
The PM Suryodaya Yojana is mostly serving urban customers and not rural.
- What are the key benefits of the PM Surya Ghar Yojana scheme for Indian households?
The PM Surya Ghar Yojana offers Indian households a highly attractive opportunity to reduce their electricity expenses significantly. Depending on consumption patterns and available terrace space, households can potentially cut their electricity costs by 50-90%.
- What technological innovations are you incorporating to facilitate the PM schemes?
We are integrating key technological innovations to support the PM schemes, with a primary focus on enhancing customer experience through a robust digital platform. Additionally, we are incorporating micro inverter technology, which is crucial for optimizing the efficiency and performance of rooftop solar installations.
- What do you think about the distributed solar rooftop market in the long run?
In the long run, the distributed solar rooftop market is poised for substantial growth, with the potential to account for 40-50% of the total deployed solar capacity. As more households and businesses adopt decentralized energy solutions, this segment will play a critical role in driving the expansion of renewable energy in India, contributing significantly to the country’s energy security and sustainability goals.
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