Rooftop Solar Power Is Boosting Small Business Production in India
In India, small businesses are using solar energy to reduce their production costs. Indian Prime Minister Narendra Modi’s government is hoping they can persuade others and generate 100 gigawatts of solar installations by 2022.
The current predictions have 40 gigawatts coming from rooftop installations, so small businesses who suffer from high power tariffs can still contribute to India’s US$2 trillion economy without turning to polluting alternatives.
“Solar power costs us just a third of grid power and has also reduced our diesel backup cost,” says Rakshith Kunder, the owner of a small fish-meal and oil-products business. Currently, the price for solar power in India sits around 2.44 rupees a kilowatt-hour, which is among the lowest in the world. The World Bank plans to contribute US$625 million to support rooftop programs.
“These companies were constrained by their understanding of technology and the ability to arrange upfront capital, but now both these issues are being addressed,” Shantanu Jaiswal, the New Delhi-based research head for BNEF India says. “Small businesses are getting comfortable with the idea that solar is cheaper than the grid.”[1]
[1] http://www.taipeitimes.com/News/biz/archives/2018/03/07/2003688805
Latest
Mapping AI’s Role in Education: Pioneering the Path to the Future
Mapping AI’s role in education should be a critical step in bringing together innovative technology-based solutions with the expertise of human educators. With rapid advancements in artificial intelligence and an increased reliance on technology-driven educational solutions, the education landscape is on the brink of a significant transformation. AI promises highly personalized learning experiences, efficient administrative […]
Unraveling Ethical & Economic Paradigms: JP Morgan, Epstein, Eric Stewart, and Ibram X. Kendi
Recently, controversial affiliations and questionable economic paradigms surrounding the ethical practices of major financial institutions have made headlines. JPMorgan Chase, whose entanglements with the late financier Jeffrey Epstein led to a $75 million settlement in a sex trafficking lawsuit, rekindles the debate on the integrity of mammoth financial entities. In light of a climate […]
FlowCast: Aftermarket Services Help Businesses Grow And Keep Customers Satisfied
In today’s rapidly evolving technological landscape, aftermarket services have become a pivotal aspect of customer satisfaction and business growth. As industries continue to innovate, the demand for efficient, reliable, and high-quality services has surged. A recent study indicates that these services are a significant revenue stream and a key differentiator in the market for businesses. […]