5 Ways Businesses Can Benefit From Renewable Energy Solutions?

The 12th EPI (Environmental Performance Index) report released by researchers at Yale and Columbia Universities in collaboration with the World Economic Forum (WEF), has pegged India at 168 out of 180 countries in terms of overall environmental quality. Owing to the increased awareness regarding the havoc climate change and increasing pollution levels can cause, there is an increased pressure to cut back on carbon emission levels. On the other hand, India is one of the fastest growing major economies and is currently ranked as the world’s sixth largest economy. India is poised to become a $5-trillion economy by 2024-25 while also addressing its accumulated environmental debt. As the third-largest emitter and the second-most populated country, how India will fare on climate-change mitigation will be a deciding factor between environmental sustenance and economic growth.

In order to realize India’s green transformation dreams, a significant portion of India’s gross domestic product, approximately seven percent to eight percent annually, must be invested in green infrastructure. Green energy solutions are the pivot for green transformation. The decreasing cost for key energy technologies and equipment, especially wind turbines, solar panels storage and smart energy management systems is driving this wind of change. Organizations must look for new ways to be more sustainable and opt for renewable energy solutions. This can not only help grow their bottom line but also attract new customers and clients. Here is how you can benefit from renewable energy solutions.

Reduced Energy Bills

One of the most up-front ways that businesses can benefit by switching to renewable energy solutions is saving on their energy bills. There are a plethora of options under different modes that can be adopted by businesses for switching to Renewable Energy. The Solar/Wind Power Projects can be installed with an EPC vendor with 100% equity infusion by the company through asset creation in the company books that will not only result in huge power cost reduction than the grid power tariff but also entitlement to tax saving on asset depreciation and GST credit.

Another mode for power cost optimisation that has seen an unprecedented spike in the Indian Power sector in the recent years by corporates is the group captive RE power procurement. Under GCP model, company has to subscribe to 26% of the corresponding Contracted Quantum in equity share capital of SPV, equivalent to 7.8% contribution in total project cost of Solar/Wind Power Plant.

The most common and easy to adopt model to switch to Solar Power, if the premises of operating plant can withhold is Solar Power Rooftop projects under OPEX or CAPEX mode as per the regulatory regime of the concerned state.

Ensure Energy Independence

Energy prices fluctuate regularly. The price of energy is largely impacted by availability of fuel, demand for electricity and the cost of generation, distribution, and transmission of electricity.

Selling Back to the grid

If you are generating more energy then you are consuming, then you can always sell the excess energy back to the energy grid. This can not only add an extra revenue stream for you but also can offset the cost that you may have incurred while setting up your renewable energy solutions. A win-win all the way! Isn’t it?

More Reliable Energy

Even though renewable energy solutions are also weather dependent, it is far more stable and easily able to distribute power when compared with traditional fossil fuels.

Green Incentives

Research indicates that burning natural gas for electricity releases between 0.6 and 2 pounds of carbon dioxide equivalent per kilowatt-hour (CO2E/kWh); coal emits between 1.4 and 3.6 pounds of CO2E/kWh. Installing renewable energy solutions comes with its own perks. A range of incentives are available from state and central governments in the form of grants and tax rebates.

Altilium can be the one-stop solution for the companies having the intent to go green, reduce their carbon footprint while wanting to reduce their power cost of operations. Being the integrated power player in the industry, Altilium believes in proposing customisable, well-researched, insightful, implementable energy cost optimisation solutions rather than “one-size fits all” advisory.

With overall team experience of 45 years in the Indian power sector, our array of services includes bespoke Electricity Regulatory Advisory, Energy Portfolio Management, Renewable Energy offtake & trade, open access services, Renewable Energy Projects management, to name a few. Being one of the leading CERC (Central Electricity Regulatory Commission) approved power trading companies in India, Altilium is managing a trade volume of over 15 MUs (million units) of Renewable Energy every month for its clients PAN India, as on date.

Let’s explore together! Do connect with us at hello@altilium.co.in