EPC and solar PV company Waaree Energies has made its entry into the stand alone solar solutions segment by bringing to the market its new Off-Grid Inverters. Waaree Energies, the flagship company of Waaree Group, boasts the country’s largest solar PV module manufacturing capacity of 1.5 GW.
The new development aims substantially cutting down on the dependency on the electrical grid. The solar inverters are available in capacities ranging from of 375 VA to 10 KW across a wide scale of commercial and residential consumers.
A report pointed out that the new offering will uphold the strong ‘quality control’ measures of Waaree and will be made available across India in a span of a year through its robust supply/distribution/franchise chain. With a strong business plan in place, the vertical aims to contribute significantly to the revenue of Waaree in FY 19-20.
With the Indian solar inverter market seen rowing at over 25% CAGR in the next 5 years, Waaree is said t be looking to capitalize on this growth curve and satiate the much needed quality service in the segment. Realising that 10 states are power deficit, Waaree aims to bridge the demand-supply gap and offload capacity from local DISCOMs, while simultaneously reducing the carbon footprint.
The ‘generate, store and consume’ energy solution will also cater to clientele in remote areas, especially zones with challenging topography. Solar has been recognized to offer upto, 50% savings in electricity bills and the off-grid inverter solution will follow suit, said the report.
Source: m.dailyhunt.in
