New Delhi, 26th August: Corrit Energy & Infra, one of India’s fastest-growing EPC companies in the field of Solar Energy, revealed a colossal 300% hike in queries for solar power installations following the first wave. This inclination towards harnessing solar power for everyday use can be attributed to a 50% increase in electricity costs experienced by the public, given the increased time spent at home.
Corrit Energy & Infra has closed an order book of over INR 20crs within the first five months of the current financial year despite losing two months to the lockdown. The company is also anticipating a 5x increase in the annual turnover compared to last year with a larger ticket size and order values. A movement towards green energy sources like solar energy can be seen in Tier 2 and Tier 3 cities, wherein awareness about the cost efficiency and long-term reliance on these sources is increasing rapidly.
Talking about this positive shift in events, Mayur Misra, Co-Founder, and CEO at Corrit Energy & Infra, said, “India is in the midst of a green energy revolution with leaders at the helm supporting this transition wholeheartedly. A key challenge about this sector has been awareness of solar power sources’ long-term ROI and usability. Investments from large players like Reliance & Adani in this sector have proven to be a gamechanger as it commenced bridging the awareness need-gap. The challenges brought about by the pandemic encouraged the Indian populous in both metropolitan and smaller cities to reconsider their power choices, thus increasing ‘real’ interest in shifting to more sustainable sources.”
He further added, “We strongly believe that the next three years are extremely crucial for the growth of solar energy installations, especially in the commercial and industrial sector. This widespread adoption can be credited to the growing focus of companies on reducing recurring expenses, including electricity costs. Customers are slowly but surely understanding that the saving they make on electricity bills over the next 25 years will far outweigh the one-time cost of installation.”
Corrit Energy & Infra is currently executing projects in six cities, with NCR being the operations hub.