As we move towards adopting climate-resilient practices to achieve net zero emissions, in manufacturing industries, mobility and transport, circular systems and material innovation, we are also undergoing a fundamental shift in our use of energy sources—from fossil fuels to renewables, specifically solar energy. Interestingly, the cost of solar energy generation has declined by 300 percent in the past decade and we achieved parity with the cost of coal in 2016. Ever since the adoption of Solar Photo Voltaics (PVs), renewable installations are rapidly exploding at a CAGR of 22 percent and today we have more than 1 TW of solar panels installed worldwide, with a projection to reach 7 TW by 2040 as per the International Energy Agency. Furthermore, India has made striking progress in achieving 63 GW of solar PV installations cumulatively so far, of which 14 GW was installed in the year 2022 itself . India can drastically cut down on its annual oil imports of US$120 billion with indigenous technology to develop solar-powered green hydrogen and solar-powered electric vehicles.
The generation of solar energy is only confined to utility-scale plants and urban rooftops.
One of the most significant challenges in solar energy generation is mapping the continuous movement of the sun, which restricts the peak generation period of solar panels to a limited amount of time (around midday). This has been partly solved by mechanical trackers that manually move panels throughout the day to face the sun. Today, the generation of solar energy is only confined to utility-scale plants and urban rooftops. The promise of solar is immense and to make solar energy the default, long-term and sustainable option for consumers, we need a focused innovation that can transform a wide range of products into a solar use case. For example, balconies, fences, benches, building facades, windows and automobiles can all be made into solar reflective surfaces offering not only a green output but also attractive unit economics.
At Renkube, our solution is two-fold:
Our customer value proposition for the commercial and rooftop solar segment is the prospect of tracker-like benefits for panels, with reduced capex. For example, a 100 MW solar project involving trackers bears an additional capex of approximately US$13 million7 for an extra 20-percent energy gain. However, Renkube’s MFOT technology offers the same benefit for an additional capex cost of US$5 million with reduced maintenance and overhead costs.
Interestingly, owing to the unique layout of our panels, Renkube panels are more suitable for Agri PVs, which enables dual usage of land for both agriculture and solar energy generation. Our Agri PV pilot in Telangana has demonstrated a 95-percent crop yield (during the Rabi season which occurs between November and April) in 100 percent of the land while, in comparison, only 50 percent of the land can be used for crop growth with traditional solar panels. This has opened up the possibility of exploring solar energy production as an additional revenue stream for the farmer. This would involve the farmer leasing the land to solar developers who pay a nominal lease to the farmer (INR 30,000 per acre/per annum). This economic guarantee can make a large difference to the livelihoods of small and marginal farmers.
We believe our innovation comes at the right moment as India is rapidly expanding its solar footprint across various states. To achieve the ambitious renewable energy capacity targets, we need to not only focus on power generation in dry, arid landmasses such as Rajasthan, as this would place pressure on distribution lines and lead to wastage and power transmission losses. We can instead focus on making reliable power available in a distributed manner in every state, which can be achieved with solutions such as Agri PV. For example, to achieve 450 GW of renewables by 2030, we would need landmass the size of the state of Sikkim. Similarly, to achieve India’s net zero carbon emissions pledge of 5,000 GW of renewables by 2070, the equivalent land mass required would be the state of West Bengal. AgriPV solution like ours would enable to achieve these renewable energy targets by promoting dual usage of land for both solar energy generation and catering to the needs of our agrarian economy. Our goal is to make this an economically viable development in multiple regions and micro-climatic conditions.
Renkube’s innovation lies in the design of glass facilitated by our proprietary AI software. During the development of our early prototypes on a small scale, we faced obstacles working with small cottage industries in Firozabad, known as the glass hub of India. Communicating our new designs done in Computer Aided Design (CAD) to unskilled labourers posed a significant hindrance. Convincing them of the critical importance of adhering to specified dimensions proved challenging, resulting in some valuable time lost. However, we ultimately triumphed over these obstacles through persistent efforts, exploring various manufacturing methods and making design adjustments.
We are blessed that today, a supportive startup ecosystem exists in India, backed by Startup India’s initiatives, numerous incubation centres, labs, and other infrastructure. However, there is a large need for patient capital for deeptech startups, provided by both the government and investors, to ideate, experiment, and develop deeptech hardware products that have higher capex requirements for manufacturing and longer gestation periods for commercialisation.
Our ecosystem could benefit immensely by establishing a CleanTech Ignition Grant similar to what we have called as Biotechnology Ignition Grants which led to a boom of biotechnology startups over the last two decades.
Specifically, we would urge the Government of India to consider the possibility of a CleanTech grant focused on solely renewable innovations such as solar PV, solar thermal, tidal, green hydrogen, and solar energy efficiency improvements. Our ecosystem could benefit immensely by establishing a CleanTech Ignition Grant similar to what we have called as Biotechnology Ignition Grants which led to a boom of biotechnology startups over the last two decades. While we have several incubation centres and dedicated labs focused on biotechnology, nanotechnology, electronics, integrated circuit (IC) development, and other innovations, there is a pressing need for incubation centres specifically focused on solar innovations for the purpose of expediting rapid prototyping.
Finally, Agri PV is a promising field that helps to solve our food-energy nexus simultaneously. At the top-most priority, we need the central and state governments to collaborate and introduce regulatory frameworks and necessary policies for initiatives supporting the implementation of Agri PV. Installing an AgriPV structure entails an additional upfront cost of 5-10 percent to be incurred, in order to raise the solar panels so that farm machinery can be used underneath. While the farmer benefits from the value proposition of a guaranteed income by leasing their lands, the developers still hesitate to absorb the additional capital cost. Thus, with the right financial incentives from the government; the establishment of a local nodal agency, which would act as a bridge between farmers and developers; and the regularisation of land laws, which are often state-specific, AgriPV can be accelerated to transform the livelihoods of these farmers.
Installing an AgriPV structure entails an additional upfront cost of 5-10 percent to be incurred, in order to raise the solar panels so that farm machinery can be used underneath.
A massive scale-up of renewable deployment over the next few decades will require securing large land parcels, particularly for solar parks. To facilitate this transition, the Agri PV concept emerges as an excellent solution, allowing us to simultaneously harness land for both solar power generation and agriculture. However, the success of AgriPV relies on significant government support in three key areas: Solar policy, land policy, and farmer policy. Government support can come in the following ways:
Furthermore, the government can promote distributed renewable energy generation to significantly reduce transmission and distribution losses, estimated at around 10 percent. One effective approach, is to encourage industrial owners to deploy solar installations on nearby available agricultural land through an open-access model.
To foster innovation in solar technology and drive down the cost of solar energy generation, government organisations like the Ministry of New and Renewable Energy (MNRE) can play a pivotal role. MNRE should consider providing substantial grants, upwards of INR 1 Crore, for deep-tech innovations in the solar sector, similar to support provided in sectors like Biotechnology and Electronics. Collaborations with internationally renowned organisations such as the National Renewable Energy Laboratory (NREL) in the United States of America and the Fraunhofer Institute for Solar Energy in Germany for research and development can further accelerate progress.
MNRE should consider providing substantial grants, upwards of INR 1 Crore, for deep-tech innovations in the solar sector, similar to support provided in sectors like Biotechnology and Electronics.
Moreover, government initiatives like the Confederation of Indian Industry’s (CII) cross-industry collaboration programmes have demonstrated success. Encouraging industries to collaborate with startups can foster rapid prototyping and the development of innovative solutions in the solar sector, contributing to the overall growth of renewable energy in India.
At Renkube, we want to become the technology providers who will accelerate the adoption of solar energy in India. Being a tropical country, India can harness the versatile use cases of solar energy products and can play a pivotal role in positioning India in the world energy roadmap. The vision of “One Sun One World One Grid” has been outlined in the COP26 to trade renewable energy, and, in this regard, India is well-positioned to become a renewable energy superpower.
Balaji Lakshmikanth Bangolae is the Founder and CEO of Renkube.
Lakshmi Santhanam is the Co-Founder and COO of Renkube.
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