Demand for solar energy escalating, while costs declining: Servotech Power System MD

The Indian solar power business, which is the world's third most appealing market, is currently soaring to new heights. According to Allied market research, the solar market was estimated at $52.5 billion in 2018 whereas it is now anticipated to reach a $223.3 billion market by 2026. Raman Bhatia, founder and MD, Servotech Power System, in an exclusive interview with Bizz Buzz said, "the use of Internet of Things (IOT), Artificial Intelligence (AI) and machine learning in microgrid controllers is a key trend to keep an eye on. These capabilities are being used by solar power companies to determine trends in energy generation and consumption."

The cost of solar PV modules has reduced considerably over the years and is now an important part of solar power's big success. Costs were further reduced by changing manufacturing methods and changing module configurations. In the following years, technological developments are projected to continue this trend of cost reductions

With a legacy of over two decades, Servotech has established itself among the leading manufacturers of inverters, batteries, led lights, solar products, UVC germicidal products, and oxygen concentrators offering a host of innovative solutions to its customers and bringing the latest technology closer to the masses. Servotech stands strong about its mission 'produce green to live green

Please throw some light on the recent developments in the solar power industry amidst Covid-19?

Sure. As per my views, the Indian solar power business, which is the world's third most appealing market, is currently soaring to new heights. The government has also recognized the genuine potential of this industry and has increased its efforts and support to improve the economics and attract more investors.

The use of Internet of Things (IOT), Artificial Intelligence (AI) and machine learning in microgrid controllers is a key trend to keep an eye on. These capabilities are being used by solar power companies to determine trends in energy generation and consumption.

You'll be relieved to learn that the cost of solar PV modules has reduced considerably over the years and is now an important part of solar power's big success. Costs were further reduced by changing manufacturing methods and changing module configurations. In the following years, technological developments are projected to continue this trend of cost reductions. Renewable energy has been rapidly adopted by the industrial and commercial sectors. And with all of this, I believe the solar shift has begun.

As Delhi prepares for yet another lockdown, this time due to pollution rather than Covid, how do you think this situation can be relieved?

I not only think, but believe transitioning to solar to be the best solution to prevent pollution, in the long run.

When it comes to the coal crisis, India recently had a narrow escape. Can solar power help in preventing this from happening in the future?

Definitely! The current coal problem is not a new phenomenon, since the supply-demand gap closes in on itself year after year. More solar power plants are required than coal-fired power plants, which is a smart investment. Using solar power reduces greenhouse gas emissions and carbon footprint, both of which are good for the environment. Because less air contaminants are created, it also helps to improve one's health. In fact, solar energy has a bright future with many promising benefits for society, and it can be used wherever you are in the world.

Do you agree when I say that the future of solar energy will be brighter than the sun?

100 per cent. We live in an age of automation and AI. We need devices with good battery life. We want faster computers. In simple terms, we need more energy. When I say energy, I completely mean solar energy! As I can see the change has already begun. According to Allied market research, the solar market was estimated at $52.5 billion in 2018 whereas it is now anticipated to reach a $223.3 billion market by 2026.

Solar cell demand is rising due to an increase in rooftop installations and rapid architectural usage. The use of solar panels to generate electricity has also increased recently. For example, researchers have devised a new design that could maximize solar panel output. Also, solar panel prices have fallen dramatically in recent years. Another recent publication from the University of Houston describes an innovative hybrid system that can gather and store solar energy. India is also actively adopting solar energy. So, it's absolutely convincing to say that solar energy is the future! Residential solar panels use less water and produce less pollution than central-grid power, according to recent research published in Energy Economics, because the electricity generated by the panels does not need to pass via a coal-fired power plant. Solar panels produce no pollution or harmful runoff because they do not require the burning of fossil fuels.

As you moved from NSE Emerge to Main Board at NSE, tell us more about the strategy you follow and areas of focus?

Thank you! The strategy is simple: Detailed 360-degree preparation, excellent teamwork, and powerful execution. Our laser-sharp focus and actions are towards harnessing the great potential of solar as we trust that solar is the future. We are in preparation to get into a large market that spans commercial and residential sectors, and we will become the solar solution providers for them. We are working on multiple projects, products, and collaborations for an exponential growth.

We would like to hear and learn more about the mission and vision you are working on?

With a legacy of over two decades, Servotech has established itself among the leading manufacturers of inverters, batteries, led lights, solar products, UVC germicidal products, and oxygen concentrators offering a host of innovative solutions to its customers and bringing the latest technology closer to the masses. Servotech stands strong about its mission 'produce green to live green.' The vision is to keep on expanding and developing to provide world-class green technology solutions to the clients, along with a source of warmth, value, and inspiration for the people.

As you mention a variety of product range, how do you relate this with your stakeholders?

Servotech offers a worthwhile investment avenue to its stakeholders and potential investors. Wherein, Servotech's customer base is growing rapidly, and our customers are extremely delighted with the products and services we offer. We are regarded prominently for our astute sense of social responsibility and for fulfilling its obligation towards investors, customers, the community, the environment, and several other key stakeholders.

Please share more thoughts about your plans as you mentioned about working towards country development and making it pollution-free.

With the future insight and the amplifying power needs of the masses, Servotech has ventured into manufacturing and selling many new and innovative solar power solutions. At the helm of it ServPort - a rooftop 2KWP PV solar storage system, the micro inverter, and an ensemble of solar street lights is its breakthrough product. At the helm of it is their breakthrough product the ServPort - a rooftop 2KWP PV solar storage system, sthe micro inverter, and an ensemble of solar street lights. The effort aims at making end-users energy-independent and will also help generate a considerable number of jobs for skilled workers while also being environmental-friendly.

In addition, we are partnering with few international organizations to bring cutting-edge solar technology to the country. A leader in technology, Servotech has also enjoyed a long-standing association with some international organizations, which helps in bringing in state-of-the-art scientific know-how to Indian consumers. Furthermore, we tied up with IIT -Jammu, and in process to do alliance with few more eminent research institutions for making all products entirely indigenous.