The World Resources Institute (WRI) conducted a study to examine reasons for the limited off-take of rooftop solar (SRT) in the residential sector. The study covered 1,808 households, out of which 18% had already installed SRT, 12.3% had considered installing SRT but did not pursue it, and 69.7% did not even consider installing SRT systems. According to WRI, the main issues revolved around lack of credible information, financial crunch, and trust deficit. It concluded that, unlike grid-based electricity supply, SRTs require proactive consumer engagement, and hence a consumer-centric approach is crucial to the adoption of SRTs.

Zircleaims to encourage the adoption of solar energy. Zircle is a consumer marketplace for home solar solutions. On Zircle platform, homeowners can switch to solar in three simple steps: identify the right solution for their homes,  evaluate and select a solution provider from Zircle's list of top verified solar companies, and book an order instantly. Zircle proposes to address this gap in consumer-centric approach and proactive consumer engagement through its online platform. With an easy-to-use interface and backed up by support, it is intended to be a one-stop shop to handhold households looking to install SRTs through the entire process. To further build confidence, it also offers advice from dedicated Zircle experts, free  consultations, and Zircle Quality Assurance on SRT solutions. It expects that the formalization, credibility, and communication of the SRT package offering will help it to address what studies have identified as a key gap in the SRT market.

The founder of Zircle, Selna Saji, brings a robust blend of deep sector knowledge and industry expertise. Holding a Masters in Management and Engineering in Energy and Environment, her educational background equips her with a deep understanding of sustainable practices and strategic innovation. Her professional experience at SunEdison, a pan- India distributed solar energy company, has honed her skills in navigating complex problems in the adoption of solar panels by households. This unique combination makes Selna exceptionally qualified to lead Zircle, driving it towards pioneering solutions in the industry.

Market Opportunity:

The Council on Energy, Environment, and Water (CEEW), one of Asia’s leading not-for-profit policy research institutions, estimates that over 25 crore households across India have the potential to deploy  637 GW of rooftop solar energy capacity. It estimates that deploying just one-third of this potential could support the entire electricity demand of India’s residential sector. The potential market – after including capital subsidies from the Ministry of New and Renewable Energy – is estimated to be at about 32 GW. Government of India also emphasis on realizing household rooftop solar potential through the launch of  'PM Surya Ghar: Muft Bijili Yojana,' which provides capital subsidies to residential consumers with a target of 1 crore households.

Investment Thesis:

As Energy costs increase around the world, we see a trend toward energy self-sufficiency both at the institutional, and the individual level. The market for rooftop Solar Panels is growing rapidly already, and 100X believes it is bound to explode. This brings with it problems of identifying the right trusted vendors and getting the setup done with minimal efforts. Selna is the right founder to solve this problem given her years of experience in the space. 100X believes Zircle will be the largest marketplace and enabler for solar energy and renewables in India.

Conclusion:

SRT is a sunrise sector and will grow exponentially in the coming decade in India. With its online platform, Zircle seeks to address the gaps in the present SRT market of trust and credibility through proactive engagement and a consumer-centric approach; they are well poised to address the unmet consumer needs and add value to the SRT ecosystem.