Solar Energy has become the leading source of renewable energy in India in terms of new photovoltaic plant installations with government driving an ambitious 100GW target. Solar tariffs have been dropping over the last three years with each successive tender. This dramatic fall in solar tariffs has come from economies of scale in procurement of solar modules, inverters and in manufacturing of mounting structures and reduction in cost of financing with global investors investing low cost funds into these projects. Companies are now beginning to look at innovative means to increase the energy yield of their solar installations to generate better returns from their projects and prepare themselves for further drop in prices in next round of bidding as the economies of scale taper off. The viability of solar PV sector is now going to be driven by innovation.
RelyOn Solar is a pioneer in the innovation race. It has continually strived to compete in the market by bringing new products like Solar DG grid controllers, off grid inverters and DC pumps. Yesterday RelyOn Solar did a grand launch of their Single Axis Tracker at Leela Ambience Hotel is Gurgaon. It is a completely indigenous state of art single axis tracker solution developed specifically for Indian conditions. It is a robust, maintenance free system, which is easy to install in most geographical terrains across the country with minimal ground preparation. It is targeted at major Independent Power Producers (IPPs Project developers and EPC installers for the large utility scale projects. So far most of the components of large PV plants are imported into India and this indigenous tracker by RelyOn Solar is a bold statement from a small companythat “We can compete with the biggest and best”.
The Product Launch event was chaired by Mr Deepak Amitabh CMD of PTC India. At the launch Dr Gundu Sabde – MD RelyOn Solar promised that this tracker will be a disruptive innovation for the solar utility market. Mr Amitabh congratulated RelyOn Solar on their “Make in India” spirit and the ability to bringing world class solar equipment to market. After the product launch, there was a very engaging panel discussion amongst the esteemed invited panelist on “Sustainability of Renewables” where they debated on the challenges and solutions for making the renewable energy projects, particularly the solar energy projects viable. The panel discussion was followed by an active Q&A session between invited guests from across the industry and the panelists. The event closed with a dinner and promise by the industry that they will adopt innovation as the mantra to continuously excel.