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Kerala is witnessing a remarkable 18% year-on-year growth in rooftop solar capacity during the second quarter of 2023. This surge in solar adoption reflects a commendable willingness among consumers in Kerala to shift from traditional power sources to more sustainable and eco-friendly solar energy solutions. The growth is particularly significant, indicating a positive response from the public towards embracing clean energy alternatives.
Freyr Energy, a prominent rooftop solar company, is capitalising on this trend by entering the Kerala market with an ambitious vision. The company aims to solarise 2,000 homes across all districts in the state by the end of the year. This move gains added significance following Prime Minister Narendra Modi's announcement of a solar rooftop scheme targeting one crore households, aligning with India's broader push towards renewable energy.
In response to the growing interest in solar power, the Central Government has increased financial support for residential rooftop solar projects. Radhika Choudary, Co-founder of Freyr Energy, highlighted that the central financial support has been augmented to ₹18,000 per kilowatt peak (kWp) for projects up to 3 kW and ₹9,000 per kWp for projects above 3 kW and up to 10 kW. This represents a substantial 23% increase in the national subsidy, making solar systems more financially accessible for homeowners. For instance, a typical 3 kW solar plant in Kerala now costs ₹2 lakhs, and the increased subsidy translates to a ₹54,000 refund for a 3 kW solar system, significantly reducing the payback period to just three to four years.
Choudary also emphasised the user-friendly nature of Freyr Energy's SunPro+ app, which digitises the entire customer journey, from awareness about solar energy to installation and ongoing energy monitoring. This tech-driven approach allows for 24x7 customer support through the app, along with instant financing and no-cost EMI options for customers, making the adoption of solar solutions hassle-free.
The increasing adoption of solar energy in Kerala is attributed to multiple factors, including government subsidies, rising consumer awareness, and the availability of financing options. As of Q2 2023, rooftop solar panels have been installed in 1,70,015 houses in the state, contributing 541 megawatts to the power grid. The overall solar contribution across various projects and sectors amounts to an impressive 893 megawatts, showcasing Kerala's commitment to sustainable energy practices and contributing significantly to the nation's solar capacity.
Also Read : Railways acquires RINL's forged wheel plant at Rae Bareilly Visakhapatnam Steel Plant to sell a part of its non-core assets to overcome financial struggles
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