The SDGs accorded with an agreement at the COP21 Paris Climate Conference where 17 SDG goals were set up to end poverty, hunger, protect the environment and ensure that all the people enjoy prosperity and peace by 2030. The sustainable development goals work on issues that people are facing all around the world. These goals were set up to achieve a sustainable future for all. One such goal was to provide Affordable and Clean Energy. This aims to provide affordable, sustainable, and reliable energy to all. Therefore, the need for renewable sources of energy is inevitable. The growing populations’ need for energy can be met only when we switch to renewable energy sources. A report from an accountancy firm EY states that India is the second most attractive country for renewable energy investments. China is the first and the US being the third. The potential for renewable energy is profound, and investments in the recent sector are proof.
What could be the role of a startup?
As envisioned by our prime minister Mr. Narendra Modi aims to reach the renewable energy capacity of 175 GW by the year 2020. In this regard, many startups in India have played a significant role in fulfilling the goal of clean and affordable energy. The country requires innovative and sustainable solutions to promote clean energy. Startups are a way to provide innovative and creative solutions to achieve the goal of clean energy.
Top 9 startup’s for renewable energy in India.
Let’s discuss the top nine startups for India’s renewable energy that have contributed tremendously towards making the planet cleaner and greener.
This startup, founded in 2015 by Awadhesh Kumar and Biswadip Paul of Mumbai, offers artificial intelligence solutions to optimize energy solutions to agricultural firms. The firm provides such software that helps the consumers to predict and get alert of any hazard well in advance. The company has received adequate funding from other tech firms, which has helped raise its reach from $4.3bn in 2016 to $10.5bn in 2018.
The solar labs were founded in 2017 by Abhay Singh, Devang Bacharwar, and Ankush Jindal. This firm provides software as a service for its solar power installer. With the software’s help, the firm claims to reduce the speed taken in designing the solar model. It uses artificial intelligence and analytics to create and make the process efficient and effective.
This startup was founded in 2016 by a group of engineers who could see India’s potential to bring renewable energy into use. This company uses artificial intelligence to improvise the performance of their solar panels. It is one of the leading solar installation firms. The customers are given the facility to check their solar panels’ effectiveness and efficiency via an app and through an online portal. This process is done via an energy intelligence platform, which helps the company know the defects, if any, in the hardware and software ahead of time.
This startup is a rooftop solar platform system founded in 2014 by the duo Roli Gupta and Gautam Das, an IIT Bombay alumnus. The company offers solutions to maintain and set-up solar panels for businesses and households. It provides them with the facility of solar energy so that it can have maximum reach. The company has flexible design options and helps in securing finance. The company has around 1000 customers and is present in about 14 states in India.
The startup was founded in 2016 by Gurugram based Pranesh Choudhary and Sushant Sachan. It offers solutions to energy issues by bringing the unused rooftops of houses and offices to set up solar panels to tap solar energy. The startup’s idea came to the duo when they released a load of electricity expenses on the customer and thus came up with the idea of providing them with cost-effective and efficient energy sources. The company has grown by 3 to 4X year after year. The company is ready to hit $1 million in revenue in 2020. The startup has designed more than 30000 solar systems in 75 cities in India and has accessed around 250000 houses. It also provides services like IoT and data analytics.
The startup by Delhi-based Gagan Vermani, founded in 2016, is one of the leading companies that install solar panels at offices and homes. It offers rooftop solar energy solutions for businesses, industries, small and medium enterprises, and houses. This firm has done projects with big brands like Godrej and DU Pont. The company has around 80000 registered customers across the state.
One of the leading firms of renewable energy in the market founded in 2011, is a Gurugram based startup offering solutions in utility-scale wind and solar. It also provides the distribution of solar panels across states. It is funded by investors worldwide like Goldman Sachs, Abu Dhabi Investment Authority, Canada Pension Plan Investment Board. The company has an asset base of 8.5 GW.
Founded in 2015 by the University of Texas and NIT Surat’s Amruth Puttappa, and Anusheel Nahar, University of Wisconsin, the startup provides conservation of energy for residents by 20 30 percent. It also includes storage back for outrage. It uses artificial intelligence and IoT to understand the demand and flow of electricity through city residents. Their app helps the consumer keep track of the patterns and gives them insights about solar inverters. It has also been recognized for its efforts in ‘Emerging IoT Startup in India’ by TiE in 2019.
founded by Puneet Batra in 2017, the startup leverages data to improve solar energy efficiency. It guides the consumers on how to save and reduce their energy consumption. They also provide reductions in AT & C and theft. They also offer customized energy saving solutions to the customers and itemized billing.
A potential startup worth mentioning here is the Loom Solar, founded in 2018 by Amol Anand, an ex-employee of luminous power technologies ltd., a robust online platform in India. Based in Haryana, Faridabad provides customers with solutions to make better decisions when buying a solar panel. It also helps the consumers in taking approval from the government for subsidies and net metering. The company is registered with MSME, India’s government, and offers certified solutions for superior customer experience.
Such a startup is a step to achieving the goal of clean and renewable energy. We need more such startup’s in India to utilize energy and promote a greener and cleaner environment efficiently. India needs to use artificial intelligence and other technologies to contribute to the goal of clean energy. The startup can make use of these technologies and become a significant renewable energy player in the world.
Click Here to read: Renewable Energy Sources And Financial Turbulence.