It’s been a while that a lot of thought leaders, industry advisors, and energy scholars are passionately making the case for climate change and championing renewable energy.
In the case of India, things are beginning to gain momentum and renewable energy is becoming mainstream slowly but surely. India is 3rd in the renewable energy country attractive index in 2021. The nation has set a goal to achieve a capacity of 175 GW worth of renewable energy by the end of 2022, further 450 GW by 2030. This is the world’s largest expansion plan in renewable energy.
The future health of our environment depends on us being able to deviate from the use of fossil fuels by adopting new methods of energy. Indian SMEs need to enter this movement of becoming more sustainable by increasing their renewable energy use. They need to become change-makers because the amount of energy they use is comparatively more than the energy used by individuals.
The use of fossil fuels is drastically affecting the environment and SMEs becoming aware of this and responding immediately is extremely important. The excessive use of fossil fuels over the past century has caused a tremendous rise in greenhouse gases emitted into the atmosphere, and the industrial sector is a major contributor to the problem. SMEs can lower their emissions by implementing renewable sources and can set an example for other businesses.
With sunlight, wind, geothermal, and hydrological power capabilities accessible in nearly all parts of India, SMEs should try to harness their full potential. This gives them a competitive advantage and also offers other benefits such as:
Regularly Lower Energy Bills
If SMES are using fossil fuels as their energy resource, they generally have a large electricity bill every month. Solar energy offers the advantage of cutting down electricity bills while also contributing positively to the environment.
Less Service Disruption
Because of constant load shedding, SMEs suffer a loss of valuable time and manpower. Renewable energy is more stable compared to fossil fuels. In most cases, service disruption with renewable energy is almost negligible. This allows SMEs to continue operating.
Lesser Maintenance Costs
As renewable energy sources generally have no moving parts which are prone to wear and tear, they don’t have to pay high repair or replacement costs. Rooftop solar systems or windmills have lesser downtime, saving majorly on maintenance costs.
Flexibility of Utilization
Renewable energy comes in many forms – solar, wind, water, or biomass. It can be utilized in many processes – heating, cooling, washing, boilers, Pasteurization, condensation, cleaning, drying, etc, which generally require electricity in the highest amount.
Faster Completion of Sustainability Targets
SME owners need to consider how their decisions affect the lives of those around them. Turning to renewable energy sources can help SMEs become sustainable and create a positive image as well as a positive impact on the environment.
When one SME starts to make a change, others will follow, which will accelerate the transformation all over India. While multiple environmental benefits result from converting to renewable sources, but SMEs also have to consider the economic implications of doing so. The upfront cost of renewable energy sources can be a problem for SMEs.
Electronica Finance Ltd. offers a rooftop solar loan at attractive interest rates to manufacturing companies, educational institutions, hospitals, service industries, etc. to encourage them to make much-needed progress towards renewable energy. The loan covers around 75% value of the system or installation. Moreover, for loan amount up to Rs. 15 lakh, it can be availed collateral-free. EFL also offers flexible repayment options, doorstep services and disbursal within 7 working days. The best part about EFL loans is that they require minimal documentation.
While going through the steps of switching to renewable energy may seem like a hassle, EFL is By Your Side to help you get through. To know more about EFL Rooftop Solar Loan, click here: