"My name is Amod Anand, and I am the cofounder of Loom Solar. I began this journey four years ago with my brother, Amol Anand, with the goal of providing solar energy to homeowners."
Before starting this business, we did our research and came to know that customers wanted to buy solar energy, but it was not available to home owners. This industry was dominated by large players who built large solar parks and sold electricity to distribution companies.
So, we concentrated our efforts primarily on residential home owners who faced numerous challenges, such as a lack of availability or small panel sizes for their home in their town.
It was exorbitantly priced.
Product Quality: There was no such thing as a big brand that was successful; only a few local players were active in this industry.
There were no easy finance option available.
Installation was difficult due to a lack of skilled labour.
We focused specifically on residential home owners because no one was focusing on or working for this market because it was not profitable or viable due to the high costs and huge geographical challenges in installation and service provision.
As a result, we took the initiative to begin this small-scale, bottom-up approach, and we are now installing systems ranging from 1 to 100 KW. We are involved in the residential rooftop market. Whereas high electricity costs are a major challenge for urban India, frequent power outages are a major challenge for rural India. As a result, we are working hard to reduce the cost of electricity while also reducing carbon emissions.
So far, we have installed solar for 50,000 home owners, totaling around 20 MW, which is equivalent to planting 100,000 trees in a lifetime or mitigating 55,000 tonnes of CO2.
The opportunity is enormous. According to MNRE estimates, 450 GW of installation will be completed by 2030, with 280 GW coming solely from rooftop solar. So, we are working towards providing innovative solutions to home owners and also working to provide a delightful customer experience.
There are so many large and small companies working in this industry, and the competition is fierce and going up further. For 25 years, we have been working to provide customized solutions and also end-to-end solutions, starting from site inspection, designing, installing, and customer experience.
So far, we have trained 3,500 business owners to sell this product to homeowners, install it, and provide operation and maintenance services.