As of January 2023, India recorded a power consumption of 126.16 billion units. The country’s major source of electricity is achieved through coal, which contributes around 75% of the total power generation. This method of burning coal for the generation of electricity emits huge amounts of carbon dioxide into the atmosphere.
A report released by the World Nuclear Association showed that over 40% of energy related CO2 emissions are due to the burning of fossil fuels for electricity generation.
With this awareness increasing amongst companies, people have started leaning towards opting for less harmful methods for the generation of this essential power. This has consequently boosted the global solar power market. It is being forecasted to reach a whopping $373.84 billion by 2029 with a CAGR of 6.9%.
Contributing to this growing market, Ashok D M setup EnerMAN in 2019. During his journey at AviSolar, he realized that a wide gap existed in terms of the technology available to automate the solar asset management. The daily reports that were needed to update the performance of the product were generated manually and took up long hours.
Along with the hardware, EnerMAN also provides a software and data backing system that automates the process by sharing live data with experts to optimize the solar performance. As its base product, it offers IoT based, AI/ML driven Supervisory Control and Data Acquisition (SCADA), and innovative products to monitor, control, analyze, and manage the performance of solar PV plants.
The software collects the data on a daily basis and sends it to the users in a concise format. It usually includes information like how much power was generated, how the quality of the equipment is, and if there were any problems detected and to automate them.
Some of its key products are Eti-SOL- a dashboard for real-time performance viewing of multiple plants, ETi-PPC controls the power factors, active power, and reactive power. ETi-Zes control the inverters at plant level, block level, and individual inverter level.
Last year, the company raised a total of Rs 4.5 crore in a funding round from its existing directors and shareholders. With a current valuation of Rs 22.5 crore, it is present in 7 countries with over 350 installations. Majority of these installations were across India and around 15 installations were made in countries like Nepal, Sri Lanka, UAE, Africa, and Poland.
In the future, it looks at expanding to sectors that deal heavily with energy like the Building Energy Management System (BEMS) market. Additionally, it plans on working on products for the Electric Vehicle Charging sector as well. EnerMAN aims to reach a 50-100% yearly growth and enter into the markets present in USA, Australia, Middle East, Africa, and APAC countries.
