Thursday, 30 July 2015

Solar Energy - Job and Business Opportunities

Solar Energy - Job and Business Opportunities

Solar Energy in India is all set to boom with a highly ambitious target of 100 GW (One Lakh MW) by 2022. This presents an excellent opportunity for individuals and companies looking to enter the Solar Energy field.

In the present scenario the Renewable Energy installation is around 13.25% which includes all the Renewtechs including Wind, Solar, Small Hydro Biomass etc. So far the renewable energy space has been dominated by Wind energy which forms nearly 65% of all renewable energy sources in the Country. There are certain advantages of PV Solar over other Renewtechs and thus it is no surprise that Solar Energy has indeed become the focal point of all discussions in this Solar-rich Country.
Fig. 1 Renewable Energy Installation Breakup in India - Dec 2015

As can be seen in Fig.1 Solar forms nearly 13% of the total renewable energy installations in India., which totals to about 38,500 MW.  Even Wind energy which has been leading the space for a few years now, the total installed capacity is about 24,500 MW. 

With the focus on Solar Energy and an ambitious target and a defined road-map only for Solar energy one could certainly gauge the seriousness of the authorities. This presents a huge opportunity for one to get associated with this field.

Why should one look at opportunities in Solar Energy Field?
Investments of more than INR 500 Lakh Crore would be made in Solar Energy in the coming years in India. This programme is slated to be the biggest globally.
  1. Out of the 3,900 MW of present Solar PV installation majority have been on utility scale with several large projects selected through Government tendering. With the fall in PV prices and innovative financing mechanism the Solar rooftop market is set to take-off opening op several opportunities across Country.
  2. Nearly 40% i.e. 40,000 MW of Solar project target is for rooftop which will open up newer opportunities for jobs and businesses across the wide spectra as mentioned above. MNRE has already intimated each of the States with their respective targets for each year starting 2015-16 and upto 2022 (Fig. 2 below)
  3. Solar Energy is the only type of Renewtech which has been given an ambitious target with support from the Government and a defined road map. Several Government agencies have come together to ensure the success of Solar Energy in India.
  4. India is a Solar-rich Country with majority of the Country receiving excellent Solar radiation for most part of the year. Solar installations are thus expected to come up all across the Country presenting a huge opportunity for local players.

Solar Rooftop State-wise Target in India by 2022
Fig.2 State-wise Solar Rooftop Target by 2022

What are the opportunities in Solar Energy?

The opportunities in Solar Energy range from Technology (Solution Provider, System Integrator, Technical collaborations etc.) to Financing (Equity, Debt, BOOT) and to Services (Consulting, Training and O&M etc.).

For an entrepreneur or a job-seeker looking to switch or start a career this field, there could be no better time than now. Solar Energy also presents good opportunities for existing businesses to avail very good benefits through diversification.

Job-seekers : To meet the Solar Energy Targets India will need to rapidly scale up the skilled manpower in this sector. Job opportunities exist and will come up in various fields including Installation, Project Management, Structural Engineers, Electrical Engineers etc. For Solar Power Companies opportunities at higher level include Program and Project Directors. Research and Development opportunities are also likely to arise as India becomes a Global leader in Solar.

[Others are reading : Solar Energy Training with recent updates of 18th July 2015]

Entrepreneurs : Several opportunities will arise in the sector which would enable entrepreneurs to startup fresh in this field. Opportunities include EPC, Consulting, Engineering & Design, Training, Agency Representation etc.

Business-houses : Business houses looking to diversify into newer business opportunities have several options to tie-up with Technology providers as well as finance Solar Power projects. Additional tax-savings are possible for businesses looking to capitalize on the Solar opportunity.

Enerco Energy Solutions LLP is one of the most renowned and well-established Solar Energy Companies in India with highly reputed Clients across India. We are engaged in 360 Degree consulting for Solar Projects as well as 100% BOOT financing of Solar Projects.