Tata Power Solar, India’s largest solar energy company and a Tata Power subsidiary, launched a complete residential rooftop solution in Mumbai, on September 11, 2018.
Positioned as “Your Rooftop, You Savings Account,” Tata Power Solar solution can help a customer with a considerable reduction in electricity bill for the next 25 years.
Interacting with the media at the sidelines of the inauguration, Praveer Sinha, CEO & MD, Tata Power, explained that the residential rooftop programme will help consumers to also become producers of power, and so they will become so-to-say “prosumers” of electricity.
As consumers would be indeed saving substantially on their electricity bills, Tata Power has termed this residential rooftop solution as a “savings account.” A release by Tata Power observed that a customer can save up to Rs.50,000 annually, for 25 years.
There would be various financing models involved, Sinha explained. Financing will be tied up with group company Tata Capital. Tata Power Solar will offer comprehensive solutions right from assessment of solar potential to financing to construction to net metering, right down to operations & maintenance of the rooftop solar installation.
The programme will be rolled out pan-India, Sinha said, adding that the rooftop solar programme was launched in Delhi in early September this year, followed by Mumbai. The plan was to cover all Tier-1, 2 and 3 cities. Even in rural areas, Tata Power would be offering relevant solutions, solar power-fed agricultural pumps, for instance.
When asked if the RESCO (or OPEX) model would be deployed, Praveer Sinha noted that this would be considered for industrial users. For residential consumers, the rooftop solar solution would be a direct sale.
On competition, Sinha observed that though there were number of players offering similar solutions, Tata Power was seeking to capitalize on the trustworthy “Tata” brand image.
Ashish Khanna, President, Tata Power (Renewables), also spoke to the media maintained that there were challenges when it comes to net-metering policies of various state power utilities. “There are challenges and opportunities with respect to net-metering policies. However, Tata Power is aiming to create a win-win situation for both consumers and discoms. After all, discoms also have their RPOs to honour,” Khanna said.
Tata Power Solar’s residential rooftop solution decreases the use of diesel generators, hence leading to more fuel savings. Apart from this, the consumers can avail a chance to earn from their idle rooftop space.
To further ease the beneficiaries’ expenses, the proposition comes with government subsidy. The company already has a robust 150+ sales and service channel partners across India which provides its valuable consumers with financing options.
Photo Caption: Praveer Sinha, MD & CEO , Tata Power unveiling the Solar Rooftop along with Ashish Khanna, President, Tata Power (Renewables)