Here’s How Solar Ladder Is Fast Tracking India’s Solar Energy Adoption

Here’s How Solar Ladder Is Fast Tracking India’s Solar Energy Adoption

SUMMARY

Solar Ladder aspires to build a managed marketplace that includes everything from procurement, sales, installation, after-sales services, working capital loans and long-term financing, built atop a layer of SasS

To fuel its ambitions, the startup announced that it raised INR 11 Cr from Axilor Ventures, Titan Capital, DeVC, Stride Ventures and several angel investors, including Varun Alagh

Solar Ladder operates in an industry that is expected to reach $50 Bn in size by 2030 but is fettered by issues like a dearth of working capital and high fragmentation

India is rapidly progressing towards establishing itself as one of the leading solar energy-producing nations. As of April 12, 2023, the country boasts an impressive installed capacity of 66.78 gigawatts (GW), positioning it as the fourth-largest country in terms of solar energy capacity.“We are sitting on one of the biggest opportunities of our lifetimes. This is because rooftop solar is one of the first commercially viable and decentralised sources of energy,” Mehta, the cofounder and CEO told Inc42 in an exclusive interaction.“On top of that is a layer of procurement, which allows them to procure the required equipment,” Mehta said.

Notably, in the first quarter of 2022, India added 456 megawatts (MW) of rooftop solar capacity, up 13% quarter-on-quarter (QoQ) and 34% YoY. With this kind of adoption, the industry is set for a bright future, especially when the country’s potential for rooftop solar is estimated at 200 GW.

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