From 70k initial investment to 3.5 crore presently, AP Solar Works works wonders

AP solar works Startup

A complete switch from non renewable to renewable source of energy is the much needed demand right now. Making this dream comes true is next to impossible but Indore based AP Solar Works is trying hard to make this dream comes true.

What is AP Solar Works?

AP Solar Works, founded in 2016, by Akshay Gupta and Pankaj Yadav, provides cost effective solar solutions to make people self dependent for their power usage. It allows people to produce their own electricity after the installation of solar panels. AP Solar Works provides solar roof top systems for the use of domestic, commercial and industrial clients to help them generate electricity.

This start up is into designing, consultancy and EPC (Engineering, procurement and construction) of solar power plants. AP Solar Works procures parts from across India and other countries like Korea, German and US. They assemble them as per client’s requirement and then install the panels.

This is based on both the business models i.e. B2B and B2C. Be it individual households or organizations, anyone can install rooftop solar panels and produce electricity based on their requirements and excess can be sold to the Distribution Companies (DISCOMS).

How does it work?

To install, one needs to get permission from their DISCOMS first. This will sanction a particular amount of electricity that can be produced. Once installed, DISCOM will check if the user has adhered to the correct capacity and all the technical standards are met.

A minimal amount needs to be paid to the DISCOM depending on the size of the project. For instance, the charge for installation of commercial panels may be up to Rs. 10,000 and domestic installation may cost Rs. 3,000 to 4,000.

How far does it reach?

L&T construction, IIM Indore, Indian railways, Infosys Indore, Indian oil and Bharat petroleum are some among the many clientele. Also, the Startup received the state leadership award for Best Solar Rooftop Company in MP by solar industry publication, SolarQuarter, in 2019.

One of the founders, Akshay Gupta has plans to expand the business to UP, Chattisgarh, Bihar, Jharkhand and Telangana. In fact, this startup is in talks with undisclosed investors for raising its pre-Series A funding. However, the impact of coronavirus crisis and lockdown can be seen since installation of the panels required a team to work on the site.

What is the procedure of production?

Solar panels produce direct currents (DC) which cannot be used but placing an inverter with the panels, converts the DC in usable alternating current (AC) which later on is sent to the main power grid of the house, factory or office.

Again, a bi-directional meter is also installed that tracks the excess/surplus electricity that can be sold to the DISCOMS by the users. Users need to install the phone application on their cell phones that keeps them updated about the performance of their systems.

AP Solar Power Works currently provides 8 different types of solar panels systems, including such as solar PV module, on-grid solar power plant, off-grid solar system (standalone systems not connected to grids), solar water heater, solar street light system and solar water pump. AP Solar Works also provides solar mini kits, a portable solar panel system especially for rural use.

How much does it in profit?

According to Akshay Gupta, a domestic project can cost up toRs. 2.5 lakh and an industrial project can cost up to Rs. 20 lakh. AP Solar Works has offices in Indore and Bhopal. It provides services in Madhya Pradesh, Maharashtra, UP and Rajasthan through its dealer network.

Once Akshay was asked as to why the cleantech start-up is headquartered in Indore, Akshay said “Indore is my birth place and I have seen this city grow and evolve. Indore has a good potential to boost any business that starts here.”

AP Solar Works started with an initial investment of Rs. 70,000 from personal savings of the founders and now is clocking a yearly revenue of 3.5 crore, Akshay claimed. He added AP Solar Works has executed over 300 projects till now, with 17,000 units of electricity produced per day.

Facebook Comments