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Kotak Solar

Model: Access over ownership, The re-economy
Value: Current

Kotak Solar is a pioneer in solar technology in India. It began operations in 1997. The company designs, finances and installs industrial and commercial rooftop solar panels. In 2014, it started offering solar-on-demand, enabling access to solar power without big upfront costs, increasing the pace and scale of the solar revolution in the country.

The Solar Story in India

India Today recently named Kotak Solar, Entrepreneur of the year, 2017  for his role in shaking up the solar industry and providing quality products and financing solutions that facilitate the adoption of solar energy. But when Kotak Solar first got into solar installations in the '90s, Sunil Kotak recalls the state of solar awareness:

 

"Awareness levels were so low that some of our clients would cover solar panels so that they wouldn't become dirty, not realising they were reducing their efficiency"

The government's push towards renewable energy has changed things, especially for solar. Here is the evolution of solar in India in four charts, and the way Kotak Solar is addressing the opportunity.

At a new low of $0.04 (Rs 2.44) per unit for utility scale power plants. solar power tariffs in India are today amongst the cheapest in the world.

 

Asia continues to dominate the solar industry. As developed countries shift towards utility scale projects, emerging market governments are encourage rooftop solar growth. According to the Bridge to India report, India's total installed rooftop solar capacity is estimated at 1,247MW as of December 2016.

 

 

  • Year of investment

    2008

  • Location

    Bangalore

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Business models

Rooftops Fast Emerging as Solar Power Goldmine

Arun Jalan
17th August 2014

As a result of declining costs, solar power has already attained grid parity in several states such Maharashtra, AP, Kerala and West Bengal.

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