Innovation

Finding an alternate source of energy that is clean, cheap & sustainable. Solar cells use an abundant, free & non-discriminatory source of power - sun. However, assembling a solar plant is capital intensive. Converting solar from a product to a service where the end consumer pays for the power the system produces, instead of the panels itself, pay lesser per unit of electricity compared to utility tariff, reduce grid dependency by generating its own captive power, and reducing the burden on local generating company incentivizes one to switch to solar energy as a long term solution without locking in large upfront capital.

Inspiration

Energy is a pressing requirement from day to day activities to running global operations of businesses. The impact is torturous to our environment. SunAlpha Energy is answering this critical problem. It was inspired to leave a lasting difference in this smoke spitting industrial machinery by offering a clean sustainable alternative source of energy - by harnessing the power of sun. SunAlpha completely fulfils 2 of the 17 SDGs and exactly checks all the requirements for A2F. Its revenue model is already looking uplifting, which is inspiring further commitment towards the goal.

Overall impact

Solar power purchase agreements ensure a continuous & predictable stream of high-quality & insured future cash flows from the sale of solar power to the consumer, enabling future portfolio securitisation and access to progressively lower cost of capital. Improving supply chain & reducing soft costs, Economy of scale & pipeline funding will facilitate holding profit margins as the sector becomes commoditized as competition picks up.

A2F Requirement Check:

1. For-Profit

2. 3+ Years

3. Fulfils 2 SDGs

4. Scalable

5. Has positive impact

Business benefit

This service model innovation has huge benefits for the business as adoption rates will increase significantly. Many new adopters who were otherwise constrained by the capital cost requirements can easily avail the service. Therefore, this model of innovation is essentially increasing the market size for this particular business area which have a huge impact on the overall business. The size increment will also be significant as it has been an entry barrier for many of the potential customers.

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Social and environmental benefit

Business has a whole has significant impact on Society and Environment. Since, climate change and clean energy are important global goals, this business initiative is directly impacting both of these goals. Increasing the production and consumption of Solar energy and bringing it from industrial use to mainstream commercial use it will decrease the carbon footprint per person significantly if applied on a scale. Therefore, it will have a positive impact on Society and Environment at large.

Interview

Raghav Mittal, Co-Founder