Solar power for industries is quintessential for meeting the 100 GW solar mission of India. A significant 44.2% of the entire electricity generated in India is used for industrial consumption, making it one of the most important sectors with respect to electricity demand.
Pertaining to heavy usage, especially during the peak hours, electricity constitutes major variable cost for industries. Industrial solar power, therefore, is a way to reduce the peak loading of the grid and do away with high tariff rates for the peak hours.
Industrial firms with captive ‘industrial solar power systems also have the option of availing tax benefits, capital subsidies and other incentives as applicable.