Renewable Energy to drive the growth of MSMEs

If India wishes to become the third largest economy by 2027, it's pertinent to focus on the challenges MSMEs face in solar energy adoption. It’s a well known fact that India can build a resilient and prosperous future for its industries, communities, and the nation, as many industries seek funds to support growth.

Solar energy is not just a power source; it is a beacon of hope and so are MSMEs, illuminating the path to a brighter, cleaner, and more sustainable India. What is required is a rapid shift to renewable energy by these MSMEs, which in turn will enhance their productivity and exports but the technology adoption in the MSME sector is moving at snails pace. 

As we know that a considerable part of the country’s manufacturing output comes from the MSMEs, and they consume about 25% of the total power utilized in the industrial sector. A sustainable solution to this is rooftop solar installations as most MSMEs spend 10 to 20 percent on their operating income. And Surging energy cost is an important component that bleeds the MSME sector. As majority of MSMEs are power-intensive and they shell out a substantial part of their income for energy expenses. 

The time has come that we address the challenges MSMEs face, and by promoting solar energy adoption, India can build a prosperous future for its industries. Given the fact that its high time India switch to renewable energy and is the need of hour too for sustainable and green India, knowing that climate change has already wreak havoc on people's livelihoods and communities.