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4 Ways Indian Solar Industry Has Been Impacted by COVID 19

The COVID-19 pandemic has had large-scale effects on all industries across the world. Unfortunately, the solar industry is not isolated from this impact, and uncertainties are leading to concerns for many businesses. Moreover, the crisis comes at the peak of India’s solar project execution. The country has ambitious goals of meeting the 100GW Solar Energy target by the coming year, and while we’re still behind on these targets, the industry is plotting strategies to get closer to the goals. 

Image Source: Luminous

Challenges Posed by COVID-19

  • Ongoing solar projects in India have come to a halt. The developers are concerned about their delayed projects due to the slowdown all across the world and lockdown restrictions in India
  • With the industry depending on China for close to 80 per cent of their solar supply requirements, the manufacturers are facing major disruptions. 
  • Manufacturers are witnessing delays in procuring modules, solar cells and other essential supplies. 
  • 85 per cent of the workforce in the industry are migrant labours who have returned to their hometowns and villages. 

Tackling Challenges and the Road Ahead 

The government of India has taken some major steps to provide respite to the solar industry and formulate a stimulus plan that is efficient and green. 

  1. The government has classified solar as an essential service and allowed the movement of commodities. This has proven to be incredibly helpful in tackling these challenges. 
  2. The Reserve Bank of India has offered a moratorium for a quarter on the repayment of term loans.
  3. The Ministry of Power has recently proposed the Electricity Act (Amendment) Bill 2020. This bill is undoubtedly a step in the right direction and can bring about some critical reforms in the renewable energy sector. 

With these steps in place, it is now possible to get a solar panel system for your homes even in the midst of the pandemic. This means that you don’t need to wait in order to enjoy the benefits of solar energy at home. 

Wondering if you need a solar panel system? The following factors will help you decide. 

  • Solar Power is Environmentally Friendly. This means that you don’t need to worry about harming the environment as you run your electrical appliances. 
  • Solar Electricity is Cost-Effective. Once you install your solar power system, your electricity bills will be significantly reduced. 
  • Your Property Rates Go Up Too. Solar homes tend to sell at a much higher rate. This is why getting solar panel systems for your home is a lucrative investment

These factors make it clear that your home needs a solar panel system. However, before you get set to install this system, there are a few things that you need to keep in mind. 

  • Consider the condition of your rooftop. This is important because it can get hard to repair your rooftop once the solar panels are installed. So, in case your rooftop needs repair, it’s a good idea to get that done before installing the solar panel system. 
  • Consider your energy requirements. It is important to understand how much energy you would need your solar power system to generate. This would help you choose your systems wisely. 
  • Do you need a battery? In most cases, it is recommended to get a battery along with your solar panel system as it stores the extra energy produced by your solar panels and supplies that energy at night or when there’s less sunlight. 

Aside from these things, another thing you should keep in mind before installing a solar panel system is the brand of your system. You must go for a well-known, reputable brand such as Luminous as such brands offer quality products that are durable and come with a good warranty period. Visit their website to know more about their products. 

Olawale Danielhttps://olawaledaniel.com/
Olawale Daniel is a business builder and psychologist, a network marketing professional, a world-class motivational speaker, a successful internet entrepreneur and a digital media strategist interested in all things mobile and digital — start-ups, media, branding. He started TechAtLast back in 2010 as a platform to quench his thirst for latest technologies. As a motivational speaker and author, Olawale has published several motivational and personal development books and he's currently working on "SUCCESS AHEAD - Don't Quit" which is billed to hit the stand by Q4 of the year. He writes regularly on his personal website on motivation and personal lifestyle and tips for network marketing success, OlawaleDaniel.com. His latest book on How to Sponsor More People in Your Network Marketing Business is still one of the best sellers in its category. He's presently working as a Health and Wellness consultant at BURN SLIM TRIM Inc., a firm that helps people regain their perfect lifestyle through state-of-the-art recent discoveries way back from nature. He's also the brain behind FOBCourse, a business university for startup entrepreneurs in Africa.

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