Commercial entities reduce electricity bills by renewable energy: Mercom

Commercial and industrial entities from various sectors, including steel and cement, have reduced their electricity expenses by using renewable energy, according to Mercom India.

The 'C&I Clean Energy Meet 2022' held in Bengaluru witnessed participation from players operating in solar, IT, automobile, manufacturing, chemical, textiles and FMCG sectors, Mercom India said in a statement on Monday.

Over 100 players joined the one-day event to discuss opportunities in the domestic renewable energy sector, available technologies, business models, financing mechanisms and regulatory guidance to set up green units.

"Narayana Health is saving over Rs 40 million every year through solar power. Representatives from Kurlon, a mattress company with rooftop solar installations at its manufacturing units in three different states with a combined capacity of 2.5 MW, have saved more than Rs 75 million since its first installation in 2016," the research firm said.

According to Mercom, the commercial and industrial customers in India are seeing their power bills increase annually.

"We are working towards helping the industry realise the Prime Minister's aim to install 300 gigawatts (GW) of solar by 2030. The event will spread awareness about how renewable energy can cater to the huge power needs of the C&I sector, save costs, and protect the environment by going green," Mercom India's Managing Director Priyadarshini Sanjay said.

Mercom Communications India, a subsidiary of the US-based Mercom Capital Group, is a clean energy research and communications firm with expertise in cleantech markets.