ADVANTAGES OF RESCO MODEL IN INDIA

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 Renewable energy usage has been gaining quite some momentum in recent times. In India, renewable energy has been getting a push by the government through aid and other incentives. By 2022, India intends to get 100 GW of power through solar energy. 40 GW power of 100 GW is going to come through rooftop solar energy. To achieve this aim, the RESCO model in India can be beneficial.  

 

Wondering what the RESCO model is? 

RESCO is short for a renewable energy service company. The RESCO model is a zero investment model to harness solar energy. According to this model, the solar power plant is owned by developers, and the consumer pays only for electricity generated by a pre-decided monthly tariff. In this article, we will throw a brief light on the benefits of having a RESCO model in India. 

 

  1. No capital investment: 

In terms of capital requirements, RESCO models are less exhaustive. Usually, setting up a solar energy company would require a huge capital investment. And this is one of the reasons why many people who want to enter the renewable energy sector cannot start. However, in RESCO models, ownership, investment, and maintenance responsibility lie in the hands of the developers. The rooftop owners will select a monthly tariff of utilizing the power and pay accordingly. These make solar panels cost-effective for the owners and also allow solar energy companies to have a large market of buyers. 

 

  1. No maintenance burden:  

The maintenance and operations of the solar panels come under the developer’s responsibility. This results in two crucial benefits; one, owners do not have to worry about the maintenance of solar panels and would, therefore, are convinced to instalL solar power plants and use renewable energy through the RESCO model.  

Another benefit is that the maintenance and operation of solar panels are done by professionals who improve the functioning and increases the lifespan of the solar system. 

 

  1. Government Support: 

RESCO models are supported by the state and central government. To achieve the aim, they have planned massive subsidies and aids for RESCO model developers. As a result of this, several solar energy companies across the country are moving more towards RESCO models. Since the investment is negligible, and there is a transparent tariff system, the RESCO models attract more companies as well as customers.  

 

  1. Supervision:  

All RESCO models are monitored by experts, and therefore, the output is higher, and wear and tear are minimum. Moreover, owners can keep a constant check on power load and power consumption in their households. This can help them to be aware and to manage their usage of power. 

 

 

We have only highlighted the significant benefits of the renewable energy service company model. There are various underlying benefits like reducing the carbon footprint and more. This RESCO model has been very impactful to push people towards renewable energy without high investment. This model has gained a lot of attention due to its success and lucrative offering. It can be concluded that with this model, India’s target to achieve 100 GW of solar energy can be attained. 

Comments

  1. TheUnitedIndianJuly 6, 2023 at 3:18 AM

    Great blog! The article provides an insightful overview of the numerous solar energy benefits. It effectively highlights how solar power is not only a sustainable and renewable energy source but also a cost-effective solution that can save money in the long run.

    ReplyDelete

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