To understand how the savings in electricity bills from installing solar can have a multiplier effect if reinvested intelligently, there is a classic example in the experience of an agro foundry in Karnal, Haryana.

Back in 2020, Universal Steel Discs, which manufactures agricultural implements like harrow discs, cultivators, and ploughs, opted to go solar by installing a 280 kW rooftop solar system.

Currently, the company has a cumulative 1,530 kW solar installation, over five times the capacity of the first system, and is on the cusp of achieving energy neutrality. How did they accomplish this?

Universal Steel Discs strategically reinvested the savings from the solar installation into expanding the system’s capacity. Each phase of annual expansion reduced grid reliance, bringing it closer to near-zero energy costs.

The rooftop solar installation now produces electricity worth ₹1.35 million (~$15,706) a month.

Gurgaon-based HeliumFour Solar has installed the system for Universal Steel Discs, handholding the company during the initial installation and expansion over five years. Sajal Aggarwal, Managing Director, commented, “Universal Steel Discs exemplifies how strategic solar investments can drive industrial growth and sustainability. Their commitment to expanding solar capacity year after year underscores the real, measurable benefits of going solar.”

Universal Steel Discs manufactures two million pieces of disc blades, 15,000 complete implements, 1.2 million rotavator blades, and forging of 2,500 MT of material annually. The company realized operational costs were soaring because of the energy-intensive nature of the production process.

The yearly power bills were coming up to a whopping ₹10.4 million (~$162,848) before it adopted solar. That’s when it decided solar would be a feasible, cost-saving and sustainable solution to reduce the need to purchase more expensive grid electricity.

“Investing in solar energy has not only reduced our operational expenses but also empowered us to expand sustainably. Reinvesting our savings into additional capacity brings us closer to energy independence,” said Rahul Katyal, Director of Universal Steel Discs.

Universal Steel Discs’ strategic investment is a telling case study of how staying with solar over the long term can yield significant monetary benefits and contribute meaningfully to India’s energy transition.

Mercom India has been hosting C&I Clean Energy Meets to provide commercial and industrial energy buyers with the knowledge and tools required to transition to renewable energy solutions and cut down their power costs. The upcoming event in the series is scheduled for April 17, 2025, in Mumbai. This will be followed by the one in Pune on May 16.

India installed 3.2 GW of rooftop solar capacity in 2024, an 86% increase from 2023, according to Mercom India Research’s Q4 & Annual 2024 India Rooftop Solar Market Report.