2019 has been a memorable year for us MYSUN. Since our inception in 2016, we are very thankful for the tremendous growth and love that we have received from our hundreds of customers across India. And there is no better time to soak that in and celebrate with the team than the Christmas Eve.

Our Christmas Tree 😊

The jingling of the bells, the sudden drop in the temperature with zero visibility and the impeccably adorable decorations on a brightly lit tree marks the onset of Christmas and a period of festivity. Remember, how we as kids waited eagerly for Christmas to secure a special gift from our dear old Santa Claus. As we grew up, we started seeing things logically, and now Santa Claus is the harbinger of hope, happiness, joy and merriment. It is this hope and spirit that we want to always keep alive among the MYSUN family. The Christmas Eve is a time we all have earmarked on our calendars. It's the time for merry-making, decorating our individual desks and office and rounding off with some games and fun time. Oh and Secret Santa is always a big part of the plans.

With beautiful starry lit reception ceiling and a not so tall sparkling brightly lit Christmas tree rightly placed at the reception area, we eagerly awaited for the Secret Santa just as we would when we were kids. Having kept us waiting for a bit, surely he was stuck on the express highway, the Santa did arrive. And who could have played a better Santa than our very own, highly energetic and bubbly Co-Founder, Mr. Gyan Prakash Tiwari who made a memorable entry with loads of surprises for all of us? Thanks, Gyan Ji……you truly rock.

Our Rockstar Santa 🎸
 

The child-like innocence on the faces of our team members as they quickly got to unwrapping their gifts was such a remarkable memory. We were all happy to be kids again, even if for a few seconds. After all, who doesn’t like a surprise gift! Keeping up with the theme of Christmas and fun, we explored Human Christmas Trees. Yes, you read that right. Our chosen colleagues were adorned with decorative items as they walked around the office waiting for their team members to deck them up. Trust us when we say, our Human Christmas Trees were better than any other Christmas Trees. MYSUN solar experts are actually multi-talented, in every aspect, aren’t they?

Our Human Christmas Trees 🎄
 

As the Christmas legacy, after merrymaking, it was feast time. A big tempting Plum Cake was waiting for us at the Cake Table. When you visit the MYSUN office next, you must meet our Cake Table. It's the place where we celebrate all cake cutting and we love gathering around it. From day 1, we have seen MYSUN grow not only as an organization but a growing well-knit family, who work together, laugh together and strive together to reach greater heights. It was a memorable evening and we already have started planning for the next time we all gather together to celebrate yet another occasion, and you can be sure, this is where you will read about it. Till then, its goodbye 2019, and we cannot wait for 2020, we are sure, it will be awesome.



Season’s Greetings and best wishes for a joyful new year.

We have written at length about how industries in Haryana are saving lakhs on electricity bills with rooftop solar, and how solar energy has been becoming more affordable in the state of Haryana. In order to push India closer to the ambitious 100GW installed solar capacity target, the Haryana Electricity Regulatory Commission (HERC) has issued an updated version of its regulations for rooftop solar grid-interactive systems to include net-metering facilities and provisions.

The Haryana solar policy changes by the HERC comes as a reaction to the petition filed by HAREDA (Haryana Renewable Energy Development Agency) on the HERC 2014 Net Metering Regulations; seeking amendments in the policy in order for the state to meet its targets as per the ambitious solar targets set by the Government.

The Key Points from the HAREDA Petition included:

• Consumers should be allowed to sell excess generated power back to the utilities, with net-metering provisions
• Distribution transformers should be allowed up to 100% of its particular distribution transformer capacity for rooftop solar systems
• Consumers should be allowed to set-up solar projects higher than the sanctioned load if they have space and capacity to do so
• Open access consumers looking to set-up rooftop solar projects in their premises should be allowed to use net-metering facilities
• Banking facilities for grid-connected rooftop solar power systems
• Ability to carry forward excess energy generated through the solar system; from one billing cycle to the next, and even to the next financial year
• Exemption of wheeling and cross-subsidy charges for consumers under net-metering

The New Updates Included in Solar Net metering Policy in Haryana

In response, the HERC has issued an updated draft of regulations addressing the points raised by this petition. The following are the key changes/additions made to the policy in the state of Haryana:

• Consumers across all categories including residential, commercial and industrial are now allowed to set-up solar projects with a maximum capacity of 2 MW. However, this comes with the condition - solar projects within the range of 1 to 2 MW must have 25% battery storage that should be able to store and deliver energy for 2 hours.
• The distribution capacity of transformers have been increased to 50% and 30% for LT and HT consumers respectively, up from the earlier 30% and 15% transformer capacity that had been given to LT and HT consumers
• The DISCOMs will continue to provide net-metering arrangements to eligible consumers on a non-discriminatory and a first come first serve basis, as long as the total capacity of rooftop solar systems does not exceed 500 MW, up from the figure of 200 MW
• Rooftop solar systems commissioned under these regulations, whether self-owned or third-party-owned, will be exempted from all wheeling, cross-subsidy, transmission, cross-subsidy, transmission, and distribution, and banking charges and surcharges

Apart from the above conditions, the policy will not grant Open Access consumers the facility of net-metering. Furthermore, the excess energy generated by consumers can be carried forward from one billing cycle to the next, however, the policy does not allow for the excess energy to be carried over to the next financial year.

MYSUN’s take:

The updated solar net-metering policy changes by the HERC have mostly addressed the points brought up in the 2014 HAREDA petition, with the exception of net-metering for Open Access consumers. This is a step in the right direction for the state of Haryana, as this should help encourage the adoption of rooftop solar energy and help increase solar installations in the state. It goes without saying, that the stakeholders will have to be brought to paces with these new changes and the implementation will have to be done quickly to make the most of the policy changes. With that being said, there will need to be similar positive changes to solar net-metering policies across the country, in order to streamline and speed up the adoption of solar energy and meet the Government’s 2022 targets.

Interesting ways the world is using solar energy is a series we run on MYSUN, where we bring to our readers some of the most interesting use cases of solar energy. From boats to airplanes to robots, we have seen some very interesting applications of solar energy. However, one vertical that seems to be adapting clean electrical energy faster than most is the automobile sector. Taking the sector to a new height, Hyundai, the South Korean giants in the automobile space has announced a car with a solar system integrated rooftop.

Image source: Techstartups

The New Sonata Solar Hybrid car launched in South Korea will be the first car to bring the first generation technology to the market. The car will feature a structure of silicon solar panels mounted on the rooftop which potentially could charge the battery of the car in the range of 30-60 per cent depending upon the weather conditions of the day. This is good news for those who leave their cars in the outdoors as about six hours of charging will give more than a thousand kilometres extra every year.

Hyundai is reportedly saying that the technology used in the New Sonata Solar Hybrid is the first generation technology and R&D is ongoing for two other types of rooftop systems namely: the second-generation semi-transparent solar roof system, and the third-generation solar-lid on the vehicle’s body. While the former will cater to cars with IC engines, the latter will be mounted on the sunroof of cars.

The solar system on these Hyundai cars will work similarly to how solar Hybrid Rooftop works, where you have a panel of solar cells that will convert light to electricity and a controller, which will convert this electricity to an appropriate usable voltage and store it in the battery of the car. Other than providing the additional kilometers, this kind of system will obviously prove to be a winner for the green tech and environment, saving a ton of CO₂.

You will see the new Sonata with a Rooftop Solar Panel on roads in South Korea soon and eventually in North America. However, for European and Rest of the Asian market, it may be a while before we see this car on the road.

MYSUN’s Take: At MYSUN, we love everything solar and this is definitely a very practical and useful utilization of solar power. The real-life challenges, like the maintenance, efficiency, and durability, etc will only be answered when the vehicle becomes mainstream, but Hyundai may just have given the automobile industry a very interesting concept to work with. Who knows, we may at some stage of time, have a car that is purely powered by a solar panel. Intriguing indeed.

With the cost of power from solar energy, in several states, highly comparable to that produced by hydro/coal power plants, solar is seen not just an alternative, but a very viable solution for commercial, industrial as well as residential establishments. Advancing technology in solar has helped industries across India save as much as 80% on their monthly power expenses. To put this into context, if an industry is paying an electricity bill of INR 10L today, it is possible to bring that cost down to about INR 2~3L a month, depending upon the location, system size and feasibility of the project. The savings when amassed over 25 years, which is the typical life of a solar system, run into high crores, thereby directly impacting the profitability of the company.

However, due to the high magnitude of power requirements that businesses have, especially for large scale business, the decision to go solar can be an expensive undertaking. And, because most of the capital of the businesses are locked in ongoing operations, investing a big amount upfront becomes a hindrance, ultimately, delaying their decision to go solar. Addressing this need of the industrial sector, MYSUN has pioneered an inhouse financing product which would allow industries to enjoy the benefits of solar without having to shell out the complete cost upfront. Add to it, our strategic tie-ups with the leading banks and NBFCs, MYSUN is determined to remove any obstacle that proves to be a bottleneck in the solar journey of our customers.

Run the MYSUN Solar Calculator now to see how much your business can save with solar every year.

How MYSUN’s C&I Solar Financing Work?

The inhouse Solar Financing product designed by MYSUN financial experts caters specifically to the needs of our commercial and industrial consumers. It makes solar viable for hundreds of businesses across the country. MYSUN offers its customers the Deferred Payment Agreement (DPA). The DPA payment plan allows businesses to go solar in easy monthly instalments under the CAPEX model. But before we get into the details of the payment plan, let's first understand the two solar ownership models namely - CAPEX and OPEX models, and the financing challenges that businesses face related to these:

• CAPEX Model of Solar and its Financing Challenges

Under the CAPEX model, the solar system is owned and paid for by the business on whose rooftop the solar system is installed. The CAPEX proves to be cost-effective compared to OPEX. The LCOE (Levelized Cost of Electricity, which is cost/unit of electricity over 25 yr horizon) for solar under CAPEX is significantly lower than that under OPEX. Also, there is an added benefit of Accelerated Depreciation which comes with the ownership of the solar assets under CAPEX. The only challenge it presents - is the capital cost of going solar. MYSUN’s Deferred Payment Agreement (DPA) helps businesses defer this challenge.

• OPEX Model of Solar and its Financing Challenges

Under the OPEX model, the solar system installed on the rooftop of a business enterprise is owned and managed by an investor or a third party. In this model, the business does not pay for the cost of the solar system, but instead for the per unit of power that will be consumed from the electricity generated by the solar system. For this, the Business Enterprise enters into a PPA (Power purchase agreement) with the investor/third-party, but a strong credit rating is mandatory for the business to be eligible.

The point to note here is that - the majority of businesses in India belong to the SME/ MSME segment. And, the majority of SMEs/ MSMEs have poor credit ratings, stretched balance sheets and overdrawn working capital limits. This makes adoption of solar under the Opex model difficult for the majority of businesses, leaving Capex as the optimal model.

Did you know these 6 Things that Every Industry Should Consider Before Going Solar?

Details of MYSUN C&I Solar Financing: The Deferred Payment Agreement (DPA)

Under MYSUN’s Deferred Payment Agreement a business can install and own a solar system from day one by paying just 20-25% of the total solar system cost, while the balance can be paid in subsequent months over a period of 3~5 years. Given that the solar veterans at MYSUN understand the significance of the allocated working capital for a business, the Deferred Payment Agreement is designed to keep the instalment amount no more than the monthly savings they will reap with solar. Therefore, businesses pay for solar through the savings they realize on their monthly electricity bills after going solar.

Post the completion of the Payment Tenure, businesses can use the Savings from Solar to enhance its profitability in the form of high EBITDA (Earnings before interest, tax, depreciation and amortization) margins.

Thanks to Solar Financing from MYSUN, the commercial and industrial enterprises have no reason to withhold their decision to go solar. Therefore, if you are a business owner and are paying lakhs for power bills every month, choose to go solar today with MYSUN and begin availing the benefits of the MYSUN Deferred Payment Agreement.

You can call our Solar Advisors on +91 8448380218 or submit your details by clicking the “Schedule Your Site Survey” button below to start your solar journey today.

Do check out some of the Advantages of going solar with MYSUN - The Largest Online Rooftop Solar Platform in India.

Video of a 1.7 MW Rooftop Solar Plant in Rajasthan which is Saving our Client 190 Lakhs P.A