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Private Sector | Kerala - India | PID: 202437
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Freyr Energy, a prominent rooftop solar company, has set its sights on solarizing 2,000 homes across all districts in Kerala by the end of this year. The move comes in the wake of Prime Minister Narendra Modi's announcement of a solar rooftop scheme for one crore households, giving added impetus to Freyr's expansion into the state
The company's entry into Kerala gains significance with the increased central financial support for rooftop solar projects. Radhika Choudary, Co-founder of Freyr Energy, highlighted the benefits of the enhanced subsidy, stating that a typical 3 kW solar plant in Kerala now costs ?1.7 lakhs, with homeowners eligible for a ?54,000 refund for a 3 kW solar system. This development significantly shortens the payback period to three to four years, resulting in annual savings of approximately ?33,000
Radhika also emphasized the user-friendly aspect of their SunPro+ app, which streamlines the customer journey from awareness to installation and energy monitoring. The app facilitates 24x7 customer support, instant financing, and no-cost EMI options
A survey conducted in April 2023 highlighted Kerala's growing energy demand, exceeding 100 million units and continuing to rise. The surge in solar adoption is attributed to government subsidies, heightened consumer awareness, and the availability of financing options
Kerala has witnessed significant growth in rooftop solar capacity, with 1,70,015 houses already equipped with solar panels as part of KSEB's solar project. This initiative contributes 541 megawatts to the power grid, while the state's overall solar capacity stands at 893 megawatts through various projects and sectors
Reports indicate that Kerala achieved an impressive 18 percent growth in rooftop solar capacity from Q2 of 2022 to Q2 of 2023, adding approximately 276 MW of rooftop solar capacity. In Q3 of FY 2022-23, the reliance on solar increased by 15 percent, showcasing the awareness and willingness of Kerala's customers to transition from traditional power sources to solar energy
| Updated on: 02 - Feb - 2024
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