There has been an increasing demand for implementing renewable energy solutions to old as well as emerging energy needs around the globe. This push has been boosted immensely by the adoption of the Sustainable Development Goals by all the members of the United Nations in 2015. Renewable energy is an integral part of this oath and can be seen as a part of the SDG 7 (Affordable and Clean Energy), 11 (Sustainable Cities and Communities), 13 (Climate Action). Sustainable energy has shown signs of becoming increasingly more affordable, sustainable, and widely available becoming an increasingly adopted option throughout the world.
For a developing country like India, where electricity for every home was once considered a dream is now close to reality. The government initiative of ‘power for all’ is changing the socio-economic structure of the country. India is predicted to hold 8 percent of the world’s solar capacity by 2035, being a growing economy its power consumption is only going to rise. Making the adoption of alternate forms of energy, the ideal way forward to manage the balance between economic growth and a sustainable environment.
As the world recovers from the outbreak of a deadly pandemic that is seen once in a century, its effects are predicted to be felt for a long time. The past year was a challenging period for India as well, affecting government and industries alike, the results and implications of the COVID pandemic rolled over the renewable energy sectors as well. With stringent lockdowns in place in most of the world to curb the spreading of the virus and the related fluctuation in oil prices, economic hardships, and uncertainty for the future dominated the mood of the market.
There are however, some positives of extended lockdowns and shutdowns due to the pandemic. The National Capital (NCT) of Delhi saw clear skies and researchers have been able to demonstrate its measurable impact on the output from solar photovoltaic panels. Due to less, leading to a more than 8 percent increase in the power output from installations in Delhi.
Saatvik Green Energy, part of the Saatvik Group, being the largest solar panel manufacturer, has been a resilient part of the larger Sustainable energy sectors through the economic shutdown. Although global energy demand is set to decline by 5 percent, renewable electricity generation is predicted to grow 7 percent (due to long-term contracts, priority access to the grid, and continuous installation of new plants). India and its domestic manufacturing market have also benefited from the anti-China sentiment in the aftermath of the COVID19 becoming a global pandemic, the recent India-China border tensions have also played their part with the changes at the macro policy level. The sector is seen to benefit from the restarting of the economy. Saatvik green energy is also ready for 2021, with a will to get India back on track to achieve its Sustainable energy goals. It is through Saatvik Green Energys decades of experience and categorical expertise in the products it manufactures that it is able to provide its customers the tools they need to thrive and fulfil their business goals. It is vital for Saatvik Green Energy to be hand in hand with the economy and help it accelerate to meet global sustainable goals.
The resultant demand for expansion, due to the increased demand and future promise, has been difficult to manage for the manufacturing sector, as it also faced problems of labor shortage and strain on its cash flow, material deliveries, installation delays, labor shortages. Saatvik Green Energy has been able to deliver on its promised deadlines consistently maintaining its 500MW annual capacity, it is all set to bounce back as the New Year brings rays of opportunities.
The manufacturer has also benefited from excellent management of its funds as it is back on its track to achieve its annual goals. There has been an excellent team development project in the operations, manufacturing, and energy levels and Saatvik has benefited immensely from these decisions. Saatvik Green Energy also has been able to sustain its momentum through the pandemic due to stable and future forward business development before the onset of the pandemic. This was rewarded with solid orders that have resulted in a revenue output greater than that of the year before.
This aligns perfectly well with the growing trend of solar energy adoption in our country. Despite COVID-19 disruptions, India auctioned 8.2 GW of new PV capacity by the end of September 2020, exceeding that of the previous year and with a consistent fall in tariffs. Enhanced due to the pandemic, issues of transmission grid bottlenecks and land acquisition are being addressed through interventions of Green Energy Corridor and solar parks. These along with the government’s push of renewable energy in the Smart Cities Project for the past few years charts a confident path as we move into a new year and look to move beyond the difficulties of the past year.
Saatvik Green Energy is looking forward to the changing landscape that comes with this year with zeal to outdo its own efforts with 5 major goals moving forward. These goals are:
(a) Launching advanced PV Modules to Expand the range of products offered by Saatvik;
(b) Forward integration by Diversifying into engineering and IPP;
(c) Hiring senior management teams for various business verticals;
(d) Expanding its sales network across India as well as globally.
(e) Expansion of the manufacturing capabilities of the company.
A new financial year is upon us, and we are ready to carry the economy forward with it.
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- Pradhan, S., Ghose, D., & Shabbiruddin. (2020). Present and future impact of COVID-19 in the renewable energy sector: a case study on India. Energy Sources, Part A: Recovery, Utilization, and Environmental Effects, 1-11.
- Covid-19 shutdown led to increased solar power output. (2020a, July 22). Retrieved from https://news.mit.edu/2020/covid-19-solar-output-smog-0722
- ET EnergyWorld. (2020, June 24). COVID-19 lockdown led to 8 per cent rise in sunlight reaching PV panels in Delhi. Retrieved from https://energy.economictimes.indiatimes.com/news/renewable/covid-19-lockdown-led-to-8-per-cent-rise-in-sunlight-reaching-pv-panels-in-delhi/76542476
- C. (2020, April 28). How COVID-19 is impacting renewable energy. Retrieved from https://www.renewableenergyworld.com/2020/04/29/how-covid-19-is-impacting-renewable-energy/