MSMEs’ Hesitation For Embracing Non-conventional Energy Sources (9/5/2022)
MSMEs’ Hesitation For Embracing Non-conventional Energy Sources
MSMEs account for 48% of the total energy consumption by India’s industrial sector – this provides a huge opportunity for leveraging non-conventional energy sources to reduce the overall dependency on fossil fuels.
As per the Ministry of New and Renewable Energy, a typical MSME grid-connected rooftop solar system can have a capacity of 10-100kW and per kW cost of ~38,000; with low maintenance and servicing costs, a MSME can recover the initial investment in a 4-5 year time period.
It is believed that there is a lack of awareness about the financial benefits of deploying rooftop solar. Furthermore, MSMEs face the challenge of raising capital to embark on this non-conventional energy source journey.
The government has identified energy transition and climate actions as one of the visions for India@100.
