India’s $250M Off-Grid Solar Market Boosts the Case for Battery Storage
Below China, India has the second largest population in the world—roughly 1.3 billion. Today, India’s 250M Off-Grid Solar Market has boost the case for battery storage. Densely populated, roughly 22 percent of the country lives in poverty. To keep fans running, use phones, cook, and watch television, those living in rural parts of India often use kerosene lighting and diesel as fuel. It is cheap, as the government subsidizes it. The use of kerosene pollutes the environment, and over a period of time, it is costly for the consumer. While it is cheap on a day-to-day basis, the money adds up over time. Not until now has there been other options available for those less fortunate living in the country of India.
Today is a new generation of individuals that fear global warming and who advocate for living green lifestyles. For this reason, roughly forty companies have already invested in helping these households in India gain access to energy in a more affordable and green way. This is the solar market. With the use of solar home systems, households can save money and avoid harming the environment.
The issue with solar homes is that they one needs to be paid upfront, and this is expensive. A solar home system costs $200-$400 dollars upfront, while a typical household will spend $1500-$2000 over the course of a year for kerosene liquid. In other words, over a course of a year, investing in a solar home will save money. The issue is that families do not have enough money upfront. Scrapping to pay the $400 price tag is too difficult for those who can barely feed their families.
Kerosene is a liquid that is used across the world as fuel. It is also known as paraffin, and is often used to power jet engines and rocket engines. Aside from this, it is used as a source for energy in rural impoverished areas. Today in India, portable stoves that use Kerosene have replaced wood-burning stoves.
Out of the forty or so companies that have invested in the solar market in India, one specifically has tried to help these less fortunate families gain access to a solar home system by providing a pay-as-you go plan. With the pay-as-you-go plan, families are able to put a little money towards their solar home system each month. This helps them save money in the long run, and keeps toxins from polluting our planet.
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