Under it’s various initiatives, Government of India is committed to initiate several schemes towards developing a sustainable energy system across various verticals. This commitments are further aligned with ‘Paris Agreement’ to setup 175GW of renewable energy by year 2022. This has lead to various favorable conditions to boost the Solar RESCO projects of PV installations.
Other contradicting factors such as frequent power outages, rising conventional grid energy cost, high irradiation and competitive solar energy costs further boosts demand for Solar RESCO Models.
RESCO is a zero-investment model that saves the consumer from making an upfront investment while relieving from the operations and maintenance costs involved in the renewable energy project. Here both the CAPEX and OPEX are borne by the RESCO developer while the consumer can benefit by procuring the renewable energy at a competitive rate through a long-term contract. Navitas Solar offers an excellent RESCO proposition through its competence in renewable power equipment production, finance
Unlike Solar CAPEX model, where rooftop owner invests in Solar EPC, under Solar RESCO the Solar RESCO developer invests in solar assets, while the rooftop owner or client commits to buy the solar energy produced from the said installation through a long term contract.
In Solar RESCO agreement, the developer undertakes complete liability to operate & maintain the solar installation for the entire period of contract. Since such contracts are executed by solar expert companies, it ensures better performance and life cycle of solar assets compared to Solar CAPEX Model.
Since Solar RESCO arrangements are long-term contracts between RESCO Developer and Rooftop owner or Consumer, it ensures a predefined and a stable supply of clean uninterrupted solar power at fixed contractual rates for a long tenure, giving energy expense control.
Since RESCO Developer brings in various expertise & technologies to the solar project, it helps maintain several records and generate various analytics to optimize overall power consumption by monitoring & acting depending on load pattern for an even & optimized consumption.
Plot No. B-20/3, Road No. 13-14, Hojiwala Industrial Estate, Sachin Palsana Highway, Surat-394230, Gujarat, India
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