EQ In Exclusive Conversation With Mr. Varun Raj – Regional Sales Head, North India, GoodWe
1. What are your current product / technology / service offerings
We at GoodWe continue to offer robust energy solutions for Indian solar market.We have quite a flexible range of solar On-Grid string inverter solutions for Residential, Commercial, Industrial and Utility projects in India. Our string Inverter range for Residential rooftop starts at 0.7kW and extends to 20kW.Our Commercial and Industrial product offerings range from 25kW to 120kW and our utility product segment offers 250kW and 350kW.All the inverters offer a very low start up voltage of only 200V and comes with most updated MPPT technology so as to maximise the generation from your solar project.These three-phase string inverter is specially designed to maximize the benefits of large ground-mounted projects and rooftop projects. Effectively if you wish to put up solar over your roof or on ground, GoodWe has a solution to your every solar inverter requirement.
In the energy storage sector, our hybrid inverters range from 3 kW to 100 kW, allowing seamless integration of energy storage systems. We manufacture lithium-ion batteries with capacities ranging from 5.4 kWh to 16.4 kWh, providing reliable and efficient energy storage solutions.
To promote sustainable transportation, we offer solar powered EV chargers in single-phase and three-phase configurations ranging from 7 kW to 22 kW.
In Totality we offer a diverse productrange, withone of the highest efficiency, safety and cost effectiveness to drive the energy transition in a big market like India.
2.What are the product launch plans for this year.
This year we are launching GoodWe 350kW string Inverter for utility-based ground mount projects. It has some of the latest features which will not only lead to higher yield but also help you with lowest operation and maintenance. It offers flexible 12 MPPT and 15 MPPT options, supports dual modules with a maximum series input current of 15/20 A, and supports 182 mm / 210 mm modules. The integration of IV curve scanning and diagnostic functions simplifies management and maintenance and improves performance. Focusing on safety, cost optimization (LCOE) and economics, the 350kW 1500V inverter is best in class string inverter suitable for your utility-scale PV projects.
3. What is the Opportunity in India Currently…in Terms of Projects in Tender, Pipeline etc…Opportunities in Manufacturing etc…
India’s solar renewable market has been experiencing significant growth and opportunities. The Indian solar market offers some really exciting opportunities:
Solar Project Tenders and Pipeline:
India has been actively promoting solar energy through various government initiatives and policies. The solar project pipeline in India, particularly in the utility-scale sector, has been robust. Opportunities abound in both central and state-level tenders. The government’s focus on achieving ambitious renewable energy targets has created a favorable environment for solar projects.
Solar Rooftop Segment:
The rooftop solar segment, including residential, commercial, and industrial installations, has been growing steadily. Government incentives, net metering policies, and the desire to reduce electricity costs have driven this growth. The residential, commercial and industrial market happens to be in the sweet spot for India.
Energy Storage and Hybrid Systems:
As solar penetration increases, energy storage solutions and hybrid systems are gaining importance. We can consider exploring opportunities in this sector, especially in regions with intermittent grid supply or in remote areas where off-grid solutions are needed.
Skill Development and Training:
Given the growth of the solar industry, there’s a growing need for skilled labor and professionals. GoodWe offers opportunities in providing training and skill development programs for the solar workforce.
4.What kind of market do you anticipate in 2023 in terms of Utility / C&I / Residential
I think solar market is going to get really exciting and booming this year, given the drop in PV module prices. We have already surpassed targets set for solar this year and India continues to grow it’s solar installation share at the fastest pace. In terms of anticipating specific markets:
Utility-Scale Solar Sector: The utility-scale solar sector in India is expected to continue its growth trajectory. The government has set ambitious targets for renewable energy capacity, including solar, and was actively promoting solar projects through competitive bidding and incentives. Opportunities for utility-scale solar projectsare likely to remain robust, with a significant pipeline of projects in various stages of development. Auctions and tenders for large-scale solar installations are expected to continue, offering opportunities for project developers, EPC companies, and component manufacturers.
Commercial and Industrial (C&I) Sector: The C&I sector is emerging as a promising segment for solar installations, driven by increasing awareness of sustainability and the need for cost-effective power solutions. Many businesses and industries are exploring rooftop solar installations to reduce electricity costs and meet their sustainability goals. Solar companies catering to this sector are likely to find opportunities in providing customized solar solutions and financing options to C&I clients.
Residential Solar Sector: The residential solar sector is also expected to grow as more homeowners showed interest in adopting solar PV systems for energy generation. Government subsidies, net metering policies, and decreasing solar panel costs are making residential solar installations more affordable. Solar companies specializing in residential installations could tap into this market by offering competitive pricing, quality products, and effective marketing strategies.
Energy Storage and Hybrid Systems: The integration of energy storage solutions with solar systems are gaining importance, especially in regions with unreliable grid supply. Companies offering energy storage solutions and hybrid systems are expected to see increased demand, particularly in remote areas and industries with critical power requirements.
5.What kind of growth do you see coming in the Residential Sector Demand
The residential sector in India’s solar industry is expected to experience significant growth in demand, driven by several factors:
Reduced Solar Panel Costs: The cost of solar panels has been steadily decreasing, making residential solar installations more affordable for homeowners. This reduction in costs is expected to continue, further incentivizing residential adoption.
Government Subsidies and Incentives: Various state and central government incentives and subsidies are available to promote residential solar installations. These incentives, such as net metering and subsidies on solar equipment, make it financially attractive for homeowners to invest in solar power systems.
Rising Electricity Prices: The increasing cost of conventional grid electricity in many parts of India make solar power an attractive option for homeowners seeking to reduce their electricity bills. Solar installations provide long-term savings on electricity costs.
Environmental Awareness: Growing environmental consciousness among homeowners lead to increased interest in clean energy solutions. Many individuals and families wantto reduce their carbon footprint and contribute to a more sustainable future.
Grid Reliability: In regions with unreliable grid electricity supply, residential solar installations with battery storage become an appealing option to ensure uninterrupted power availability.
Availability of Financing Options: The availability of financing options, including loans and lease agreements, make it easier for homeowners to invest in solar power systems without significant upfront costs.
Government Initiatives: The government has launched programs to promote rooftop solar installations in residential areas. Such initiatives aim to simplify the installation process and reduce administrative barriers.
Given these factors, it is anticipated that the residential sector’s demand for solar installations will continue to grow in India. Homeowners are increasingly considering solar power not only as a means to reduce electricity bills but also as a long-term investment in clean energy.