VP Mahendru, Chairman and Managing Director, EON Electric.
How could energy efficiency help India meet growing power demand?
Efficient energy management is becoming indispensable, and the concept of a smart city is modelled on this. Energy efficiency in India would lead to technological innovation and upgradation, modernisation, adoption of best practices and global benchmarking. EON is committed to make the best quality electrical products that add value proposition, and customer satisfaction, besides offering human as well as environmental safety.
What are the products and solutions that EON Electric offers in this sector?
Eon Electric Ltd has always been a value driven company. Its core values still continue to drive its business and contribution to national growth. The company doesn't touch the equity hence provides off-balance financing. We are currently engaged in the business of manufacturing and marketing of energy efficient lighting and other electrical and electronic products such as LED lights, lighting products, HID lamps, energy efficient fans, water heaters, lithium ion batteries, mobile phone accessories, wires and cables and other allied products. Street lighting, industrial, and commercial applications are currently driving the LED market growth in India.
What would you say are the emerging trends and technologies in this field?
The rise of controls which can dim the lights and can send and receive data are among the emerging trends for the LED lighting expanding market. The rise of wireless controls and power-line communication is yet another ongoing trend. Design freedom by LEDs where the focus of the lights can be designed according to the needs of the people. Government's initiative towards green technology has added value to great extent. Li-Fi is another emerging trend that has been seen picking up nowadays.
What percent savings you generate for clients?
Many of our clients have saved 40û80 per cent of the power consumption by changing over conventional lights to LED Lights. Use of LED lights saves energy not only because of the simple replacement of incandescent bulbs or CFLs by highly energy efficient LED lights as, they are solid state and unlike other sources of light, do not waste energy on heat generation, LED lights also ensure much longer life which saves cost of organising repeat replacements. The modern LED lights are also Internet of Things (IoT) enabled.
According to you, are there any significant government policies that can help boost industry initiatives towards energy efficiency?
India during the recent years has been showing tremendous growth in various sectors of the economy. The Union Budget of FY2016-2017 also emphasised on the development of the economy for job creation, development of infrastructure in both rural and urban areas. There are various government policies like 'Make in India', 'Digital India' and 'Start-up India' that are contributing to the economy and shaping it in ostensible ways. The ongoing smart cities projected by the Government would further elevate the industry initiatives towards energy efficiency and consistent reduction in revenue account as well as capital account.
What is your estimate on the potential growth for energy efficiency applications in India?
India has been growing tremendously with the rise in technology and with the government's push for growth and development of the economy. With rise in infrastructure, there will be faster growth in the housing sector. The environment friendly and cost effective LED lights would thus be in huge demand in the future. With the increasing lifestyle and growing needs, the electrical consumer durables, lithium-ion batteries and the mobile phone accessories would foresee substantial increase in demand.
With many new innovations added to the new energy efficient products, this sector is expected to grow by almost 150 per cent every two years.
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