Per capita electricity consumption has been rising at a continuous pace. In 2014-2015, it reached a record 1010 kilowatt-hour (kWh), compared with 957 kWh in 2013-14 and 914.41 kWh in 2012-13, according to the Central Electricity Authority (CEA).
Experts say that as electricity consumption increases, it puts a lot of pressure on energy resources and the economy of the country.
They emphasise on judicial use of power and energy-saving measures. India has approximately 1 per cent of the world’s energy resources but 16 per cent of the world’s population. Besides, the country saves money if it saves energy. About 75 per cent of the country’s crude oil needs are met from imports which cost about Rs 1,50,000 crore a year.
Virendra Joshi, who wears many hats and has worked with various multinational companies, has come up with a solution in the energy-saving space.
During his stint with Whirlpool, he saw the company’s focus on energy efficiency. He was then struck with the idea of coming up with a technology to save both the environment and electricity.
He observed that Indians are buying air conditioners at a pace faster than ever. This is partly due to higher disposable income and the scorching summer year after year. Currently, 4-5 per cent households in India have ACs and this is expected to go up to 15 per cent each year, to finally reach 7.2 million by FY2020.
In 2012, Joshi formed a company called QuasaR Enviro and introduced an energy-saving device, Enisaver. The device is designed to save power on all window, split, tower, cassette, ducted and package air conditioners from 1 to 20 tonne.
“The device consists of an algorithm which optimises the running of the compressor, without any alteration to cooling comfort in the conditioned space of ACs and helps reduce costs by 16 to 30 per cent,” explained Joshi, Founder and CEO, QuasaR Enviro.
Enisaver is an Electronic Retrofit Device that can be fitted on the existing installed base in a matter of minutes.
In a quick span of time, QuasaR Enviro has offered its technology solution to companies in both B2B and B2C verticals.
“We are already working with some of the leading names in the hospitality and banking sectors, including KFC, McDonalds, HSBC, Costa Coffee, Dunkin Donuts, Pizza Hut, Domino’s, Axis Bank, Dell, Indusind Bank, and Standard Chartered, to name just a few across 1,600-plus locations,” said Joshi.
QuasaR Enviro, a self-funded company, started out with an initial investment of approximately Rs 5 crore, which was majorly focused on research and development. It claims to have grown about 30 to 35 per cent year-on-year since the company’s inception in 2012.
“Currently, QuasaR Enviro has an annual turnover of Rs 65 crore. In the next five years, we expect this journey to accelerate ten-fold and become a Rs 100 crore-plus company,” said Joshi.
The company has operational presence in countries such as India, Bangladesh, Sri Lanka, Maldives, Saudi Arabia and UAE. With its current focus on the B2B business model, the organisation is expanding its presence in the B2C vertical as well.
Cleantech: A growing market
India is making conscious efforts to do its bit to reduce the carbon footprint and contribute towards protecting the environment.
The country has laid out guidelines to ensure its greenhouse gas emissions from one unit of GDP in 2030 is at least one-third lesser than what it used to be in 2005.
Joshi feels mapping the usage of electricity, regular servicing of air-conditioners, increased usage of LED lights, investing in star–rated consumer durable products and appliances are some of the elementary steps towards a greener ecosystem.
He added that with such solutions in place, individuals can take responsibility for reducing the carbon footprint, with low investments for higher returns.