India's installed renewable power generation capacity has grown at a rapid pace in recent years, with a CAGR of 17.33 percent from FY16 to FY20. The sector has become more appealing to the investors, as a result of increased government support and improved economics. Renewable energy will play an important role, as India attempts to meet its own energy demand, which is expected to reach 15,820 TWh by 2040. The Government's increased focus on introducing investor-friendly policies for renewable energy, as well as changing customer preferences, are two key factors driving the sector's growth. Increasing concern for the adverse impacts of climate change, will further help in the growth of the renewable energy sector.
However, affordability is a major concern of the clients from the players in this space. Customers must make decisions to transition from traditional energy sources to solar energy and short-term costs are a major concern. Perfectly understanding the challenges, Amethyst Energy, a startup focused on becoming a part of energy transition, engages with customers in evaluating
their long-term energy needs on a life-cycle cost basis. Amethyst Energy is a new age, asset-light company that was founded in 2020, with a focus on leveraging digital technology to lower its operating costs, allowing the company to provide clients with cost-effective and affordable solutions. “Working with clients to understand their energy consumption pattern is the most crucial aspect of designing and providing cost-effective solutions for them", signifies Kamal Subhash Jolly, Project Manager, Amesthyst Energy.
Amethyst Energy is concentrated in North India, specializing in the solar rooftop sector. The firm procures, installs, and services rooftop solar solutions in various sizes, especially from small one-Kilowatt sizes up to two-megawatt. The firm is catering its services to individual households, industries, and institutions, wherein its range of services includes consultancy, design, supply, installation, and maintenance. Significantly, a long-term sustainable relationship with clients in meeting all of their energy demands, gives the firm an edge over the others.
With small single panel installations to the households to MW size installation, sincerity of efforts and trust of the clients, have been the key success factor of Amethyst Energy
In the last two year journey of Amethyst Energy, the founders and entrepreneurs have diligently built the client base. Building trust, like any new venture, takes time and work. Amethyst’s sincerity of effort and client trust has been the key success factors, in everything from modest single panel installations to MW-scale deployments. Further, high-end quality products and services with affordable costs, will remain the key factors of growth in the future for the firm and personalized services will serve as a fundamental differentiation from competitors in the market.
“We expect that rooftop solar will be a significant growth driver in the coming years. We will establish core competencies in the rooftop solar sector, wherein our underlying factors will be innovation in products, installation, services, and financing. All in all, we intend to become a major player in the rooftop solar segment", concludes Kamal.
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