ENACT Systems, a developer of software platforms for solar projects, is partnering with building solutions provider Everest Industries to launch a solar project management solution in India.
ENACT’s software platform automates sales proposals, design, financing, installation, and asset management for commercial and residential solar projects to improve workflow efficiency, reduce costs, and help new energy businesses scale up.
According to ENACT, its enterprise-grade platform-as-a-service is bringing down the soft costs of solar services, which can account for more than 50 percent of the total installed cost of a solar system in the U.S. market. ENACT has decided to launch its offering in the Indian market after its positive effects in the U.S.
Soft costs are also an important component of project costs for commercial developers in India, where high acquisition and development costs are prevalent.
In India, solar tariffs are declining but there is a trend of increasing module prices. In such a scenario, reducing soft costs can boost profit margins. In Indian auctions, bids are being awarded based on deviations of just a paisa.
“India is one of the first international markets that we have wanted to expand (in)”, said Deep Chakraborty, chief executive officer of ENACT. “We already have a team here, (and we are) ready to support new clients and proud to partner with leading corporations, as well as solar developers and integrators in this rapidly growing market,” Chakraborty added.
“We are expanding our commercial solar program in India rapidly,” said Manish Sanghi, managing director at Everest Industries. “We have partnered with ENACT to reduce our solar origination and transaction costs, and are excited about our future partnership in the India market,” he added.
Image credit: ENACT Systems
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.