Industries in Karnataka

Karnataka is one of the leading industrial states in India, with the fifth highest GDP ranking among all Indian states with a growth of 12.3% in 2018-19. This is a good indicator of the industrial and business potential of the state. The state is the home to several and robust industries in textile, agro, aerospace, heavy engineering, and automobile manufacturing beyond the well known IT industry. As a leading Industrial hub, electricity and power consumption is a necessary and exorbitant expense for the state.

Power Tariff Hike in Karnataka

Recently the Electricity Supply Companies (Escoms) had approached the Karnataka Electricity Regulatory Commission (KERC) with a request to permit hike in the power rates, which has now resulted in the KERC approving an increase of 33 paise per unit in the electricity bills of all electricity supply companies (Escoms) in the state. The five Escoms in Karnataka has cited a hike in tariff ranging from Rs 1 to Rs 1.67 per unit for all categories of consumers. For the domestic consumers in rural areas of Bescom, the fixed charges have been increased from Rs 35 to Rs 45.

Cities such as Bengaluru, Mysuru, Hubli and Mangaluru have reportedly experienced a surge in electricity bills already, and this has led to growing concerns amongst homeowners and business owners alike.

What Does This Mean for Commercial and Industrial Consumers in Karnataka?

While the electricity bills of the households will go up, the ones who will suffer the most will be the Industrial and Commercial Sector who lie in the highest bracket of consumption. For LT (low tension) commercial category users, the increase in tariff is 25 paise per unit. For HT (high tension) commercial users, in all other areas of other ESCOMs, the increase in tariff is 20 paise per unit. These tariff hikes for Industries in the state largely mean one thing: grid power/electricity is only going to become more expensive, and this surge in electricity expenditure is going to have an impact on the balance sheets of businesses and industries.

Why Businesses and Industries should Go Solar in Karnataka?

Karnataka is the leading state in cumulative solar installations with a total of 5 GW. The state is the home to 24 per cent of the total installed solar capacity in the country. However, there has been a minor setback when it comes to utility-scale solar projects, as the KERC has put restrictions on large scale solar projects over the financial health of the state’s discoms.

Rooftop solar remains a very viable and profitable option for businesses and industries in the state. You can estimate your businesses’ potential savings by running the MYSUN Solar Calculator.  

Let’s take an example of a machinery manufacturing unit, based out of Electronic city in Bengaluru, paying an average electricity bill of 5,00,000 INR lac per month. As you can see below in the illustration, there is an estimated 85% saving and a 36.5% ROI per annum, if the business owner decided to install a 350 kW rooftop solar system.

 

At MYSUN we offer end to end solar solutions and services, from design, installation all the way to solar financing and after-sales service. A number of our commercial and industrial clients are saving up to 80% on their electricity bills.

There is indeed great potential to save with solar for large scale businesses and Industries, especially in a thriving state like Karnataka. In addition to the financial benefits; installing a rooftop solar system can increase property value, ensure return on investment and provide you peace of mind for the next 25 years.

Start your solar journey today.

The Indian Machine Tools Industry

Since the advent of the industrial revolution, factories and manufacturers have been the world's biggest energy consumers due to their large scale production needs. India has emerged as a key player in the global machine tools industry and as per a report in 2017, the country is ranked 12th in production and 8th in consumption of machine tools on a global scale.

India is also a leading international hub for various industries and manufacturers in the space of automobiles, auto parts, agro-engineering, FMCG, and many more. Therefore, consumption of energy and therefore the cost that comes with it remains a challenge.

Meet MYSUN Solar Advisors at India Machine Tools Expo & reduce your energy costs. Call Now on +91 8448380218

Why Solar is Necessary for Machinery Manufacturers & Consumers

In most warehouses and factories, machinery manufacturing and processing equipment account for a substantial load, which contributes to high energy spends. Industry decision makers are looking for alternative solutions to mitigate these elevated energy expenses, and solar energy is one such promising solution.

When it comes to the peak energy consumption of manufacturing plants and warehouses, a majority of consumption occurs during the day. This makes solar a near perfect solution as a solar system will be at its peak production during the daytime.

Furthermore, there is immense potential for long term saving benefits as commercial solar systems are extremely economical when it comes to scale. You also have other benefits like AD (Accelerated Depreciation), contribution to the environment that make the decision more lucrative. You can check the savings your business could make with solar by running the MYSUN Solar Calculator.

Key Advantages of Rooftop Solar for Commercial & Industrial Manufacturers

Before considering solar as an option for any business or manufacturing industry, you should understand the key advantages and benefits of going solar:

Assured Return on Investment - Several of MYSUN's clients across India who are business owners, are saving up to 80% on their monthly electricity expenditure by going solar, as it helps offset peak consumption and reduce operational costs by a big margin. There are case studies of industries in Chittorgarh, Rajasthan and Gurugram, Haryana.

Reliability - Solar systems are a low-risk investment with a reliable lifespan of at least 25 years with peak performance. You can opt for a 25-year service guarantee with MYSUN that ensures reliability and the safety of your solar system for the entire tenure.

Flexibility - Rooftop Solar Systems can be installed on different kinds of roofs, and are highly scalable as their capacity can range from 1 kW to more than 1 MW. As warehouses and factories vary from industry to industry, the flexibility to install a rooftop solar system regardless of the size and shape of the rooftop is an added advantage.

Technological development - There are on-going research and development in the world of solar, and further improvements in the technology will only intensify in the near future; doubling or even tripling the electrical generation of solar systems. This will eventually result in much greater savings for industries.

Cost-Effectiveness - It is common knowledge that the cost of going solar today has come down tremendously. In certain areas of the country, the cost from solar is comparable, even cheaper than the cost of energy per unit from coal.

Insulation from rising tariffs - Electricity costs are bound to go up like any other commodity/service. However, with solar you lock your tariff for 25 years, so you are insulated from unwanted surges.

Easy Financing - All said and done, solar is a capital expenditure. However, to make this decision even easier for business owners, MYSUN offers a wide variety of easy solar financing options that will allow you to pay for your solar system in easy installments, from the savings you make with solar.

Start Your Solar Journey at India Machine Tools Expo

We at MYSUN are committed to providing our customers with the most reliable and premium rooftop solar solutions and services. If you are in the business of machinery manufacturing or consumption, and are looking to steer your business towards greater profits. Rooftop solar is the solution for you.

For any query get in touch with MYSUN Solar Advisors here, and meet us for a detail discussion at the India Machine Tools Show held from 14th to 17th June 2019, at Pragati Maidan, New Delhi, India.

To start your solar journey right away schedule a site survey by clicking below.