A self paced creative business development plan on renewable source of energy

1. PhotonWorks
Business Plan and
Strategies

2. ACKNOWLEDGEMENT
Presentation, Inspiration and Motivation have always played a key role in the success of
any venture.
We express our sincere thanks to Dr. Rekha Agrawal, Director, Amity School of
Engineering and Technology, New Delhi. We express our deep sense of gratitude to Dr.
Mandeep Mittal and Dr. Pinky Nayak, Amity School of Engineering and Technology,
New Delhi for organizing Entrepreneurship Development Programme and also
encouraging us to the highest peak and to provide us the opportunity to prepare the project.
We feel to acknowledge my indebtedness and deep sense of gratitude to my guide Prof.
Sudhanshu Tripathi whose valuable guidance and kind supervision given to us
throughout the course which shaped the present work as its show.
We are immensely obliged to our colleagues for their elevating inspiration, encouraging
guidance and kind supervision in the completion of our project. Last, but not the least, our
parents are also an important inspiration for me. So, with due regards, we express our
gratitude to them.
Regards
Chhavi Goel - IT (40110403116)
Jai Kapur - IT (01510403116)
Kritika Phulli - CSE (01610402716)
Nidhi Kumari Chauhan – CSE (02110402716)
Deepanshu Sharma - CSE (35210402716)
Vishal Bhat - CSE (41910402716)

3. TABLE OF CONTENTS
1. Introduction
2. Company Portfolio
3. Executive Summary
4. Opportunity
5. Pros of Solar Energy
6. Services and Products
7. Market Analysis
8. Marketing Plan
9. Partner in growth
10. Competition Mapping
11. Company Uniqueness
12. Company Hierarchy
13. Analysis
14. Business Model Canvas
15. Financial Analysis- Cash flow
Appendix

4. 1. INTRODUCTION
Solar energy as its name shows the energy of the sun. Since the beginning of mankind we
have used the energy of the sun to dry clothes and food but this isn’t the only scope of it.
Solar energy is that produced by the Sun’s light – photovoltaic energy – and its warmth
– solar thermal – for the generation of electricity or the production of heat. Inexhaustible
and renewable, since it comes from the Sun.
Solar energy can be harnessed using panels and mirrors. Photovoltaic solar cells convert
sunlight directly into electricity by the so-called photovoltaic effect, by which certain
materials are able to absorb photons (light particles) and liberate electrons, generating an
electric current.
Did you know that the energy it provides to the Earth for one hour could meet the global
energy needs for one year? However, we are able to harness only 0.001 percent of that
energy.
There is a reason why solar energy has become a trending topic when talking about
renewables. While it has been widely criticized for being expensive or not very efficient,
solar energy has now proved to be extremely beneficial - not only for the environment but
also financially speaking. Additionally, due to the higher demand, the technology has been
improved considerably, turning into a significantly efficient source of clean energy.
The growing concerns of global warming and the decrease of oil reserves made it inevitable
to seek alternative energy from renewable energy resources. Since India is enriched with
higher level of solar radiation, and to cope with the increasing electricity consumption
trends, it is the perfect timing to introduce PhotonWorks to the citizens of India
PhotonWorks offers solar electric systems to residential and commercial buildings.
We aim to use renewable energy in order to meet rising electricity demand, as well as
reducing the domestic use of crude oil and hence releasing the additional oil capacity for
exports.

5. 1.1 Background and Reasons for Developing PhotonWorks
Environment Concern
During modern times, we've become reliant on fossil fuels. This has allowed us to develop
our cultures and economies tremendously, but has come at a steep price. Due to the side-
effects of using fossil fuels, the use of solar energy has become important to mankind once
again. Some of the reasons solar energy is important are:-
a. Global energy demand is increasing
b. Continued usage of fossil fuels is damaging our environment
c. Solar energy is one of the most promising alternatives to fossil fuels
Sun is an everlasting source
The solar resource is enormous. According to the US Department of Energy, the amount
of sunlight that strikes the earth’s surface in an hour and a half is enough to handle the
entire world’s energy consumption for a full year. Just 18 days of sunshine on Earth
contains the same amount of energy as is stored in all of the planet’s reserves of coal, oil,
and natural gas. And, once a system is in place to harness the solar resource and convert it
into useful energy, the fuel is free.
Importance of Solar energy to an individual and homeowners
Then there are reasons why solar energy is important to homeowners as well. Some of these
reasons are:-
a. Having a positive impact on our environment.
b. Solar energy saves homeowners money now and in the future as a long term
plan, since use of UPS / generators leads to high utility bills when there is
electricity cuts.
c. Allows homeowners to have energy independence.
d. Day by day the electricity crisis is being increasing.
e. To reduce expenditures on light and ensure savings on replacement costs.
f. No import duty on solar chips – reduction in expenses

6. 2. COMPANY PORTFOLIO
Fig 1: Company Portfolio

7. 3. EXECUTIVE SUMMARY
“Our planet’s greener future depends on nurturing our natural and abundant
renewable resources.” As we all know in near future all conventional power resources
will exhaust and soon not only India but the whole world will suffer from unavailability of
power. Need of the hour is to switch to eco-friendly renewable power sources which not
only conserve our environment but also leads the path towards sustainable development.
Using energy from the sun, wind, and water to perform “work” – has been around almost
as long as mankind. Yet, the use of these renewable resources to generate electricity has
been in practice for only about a century. Lately, though, this practice has been the
subject of much policy support and private investment. Renewable distributed energy
generation (RDEG) is actually a subset of the larger market for renewable energy
generation and another market for distributed – or onsite – generation, which includes
both conventional and renewable fuel sources. Distributed solar photovoltaic (PV)
systems are the largest subset of RDEG technology. Since the first centralized power
station came online in 1882 (Thomas Edison’s Pearl Street Station), centralized power
plants have attracted capital and achieved efficiencies far greater than possible with
small systems. Access to affordable electricity drove the economic engine of the industrial
revolution. Arguably more than any other RDEG technology, solar PV has led to exciting
new business models and investment vehicles not only for utilities, but also for
independent power producers, businesses, and homeowners.
Following the concept of non-conventional resources generation our company
“PHOTONWORKS” has come up with the initiative to promote utilization of solar energy
which will lead to a save and efficient future. Sun being unlimited source of energy so, we
are promoting installation of solar panels in open as well as residential areas and our
company aims to soon drive a complete switch to modern way of power generation and
storage. Along with benefits of installation we offer first servicing free and a product line
of Solar Heater, Solar Cooker, and Laptop Bag Solar Charger. We are also promoting
electricity generation using solar energy and we have collaborated with Government of
India which launched Jawaharlal Nehru National Solar Mission in January 2010.
“We aim to seek the future of green energy, sustainability and renewable energy.”

8. 4. OPPORTUNITY
Fig 2: Ambitious 2022 Solar Goal of India
THIS SHOWS THAT THERE IS HUGE NEED OF SOLAR ELECTRICITY AND
HENCE PRODUCTS TOO.
Fig 3: Installed Capacity (MW) and Target Assigned for March 2019(MW)

9. 4.1 FOUNDATION OF IDEA TO OPPORTUNITY
Fig 4: MIT Curve

10. 4.2 FRAMING THE PROBLEMS
Traditional electricity relies heavily on fossil fuels such as coal and natural gas. Humans
have exploited these fossil fuels so much that it has led to environmental chaos – Global
Warming. Global warming has increased to such an extent that it has created health issues
(breathing problems, neurological damage, heart attacks, cancer and premature death)
across the globe, decreasing average life span of humans. Burning natural gas for electricity
releases between 0.6 and 2 pounds of carbon dioxide equivalent per kilowatt-hour
(CO2E/kWh); coal emits between 1.4 and 3.6 pounds of CO2E/kWh. Figures shows that
these resources are bad for the environment. Not only that, they are also limited. According
to a recent study, natural gas will last for about 54 years and coal for 110 years. Apart from
their limited presence, the electricity rates has reached sky and is not able to fulfil the
current demands. Since the demands are increasing day by day, these resources won’t be
able serve the electricity demands of future generation. Searching alternative sources to
produce electricity is need of the hour. Renewable resources is one such option.
4.3 SOLUTION TO THE PROBLEM: SOLAR ENERGY
By definition, solar energy is energy derived from the sun. The energy can be used directly
to heat, and light homes or it can be converted into electricity using solar energy
technologies like solar panels. People are increasingly investing in solar energy to save on
out-of-pocket costs and get rid of dangerous and expensive power lines. The global spike
in energy costs has led many to find alternative and sustainable fuel sources. There are
many options available today including wind, solar and hydropower. Of the three, solar is
the fastest growing, and almost everyone can learn to capture its power to perform tasks
like cooking; lighting, heating, and many other household chores.

11. Fig 5: India use 8x Much Electricity as they did in 70s
Fig 6: Only 1/6 of India's Electricity Comes from Renewables

12. 5. PROS OF SOLAR ENERGY
5.1 Renewable Energy Source
Among all the benefits of solar panels, the most important thing is that solar energy is a
truly renewable energy source. It can be harnessed in all areas of the world and is available
every day. We cannot run out of solar energy, unlike some of the other sources of energy.
5.2 Reduces Electricity Bills
Since you will be meeting some of your energy needs with the electricity your solar
system has generated, your energy bills will drop. How much you save on your bill will be
dependent on the size of the solar system and your electricity or heat usage. Moreover, not
only will you be saving on the electricity bill, but if you generate more electricity than you
use, the surplus will be exported back to the grid for the later use.
5.3 Diverse Applications
Solar energy can be used for diverse purposes. You can generate electricity (photovoltaics)
or heat (solar thermal). Solar energy can be used to produce electricity in areas without
access to the energy grid, to distill water in regions with limited clean water supplies and
to power satellites in space.
5.4 Low Maintenance Costs
Solar energy systems generally don’t require a lot of maintenance. You only need to keep
them relatively clean, so cleaning them a couple of times per year will do the job. If in
doubt, you can always rely on specialised cleaning companies, which offer these services.
Also, as there are no moving parts, there is no wear and tear. The inverter is usually the
only part that needs to change after 5-10 years because it is continuously working to convert
solar energy into electricity (solar PV) and heat (solar thermal). Apart from the inverter,
the cables also need maintenance to ensure your solar power system runs at maximum
efficiency. So, after covering the initial cost of the solar system, you can expect very little
spending on maintenance and repair work.

13. 5.5 Technology Development
Technology in the solar power industry is constantly advancing and improvements will
intensify in the future. Innovations in quantum physics and nanotechnology can potentially
increase the effectiveness of solar panels and double, or even triple, the electrical input of
the solar power systems.
REAL-LIFE SCENARIOS: GLOBAL POVERTY
Here the Solar panels could be the best solution.
Every morning, students in Kunthur, a village outside Bangalore, India, leave home
carrying a battery among their books. At Swamy Vivekananda High School, solar panels
charge the batteries during the day so the stored energy can be used to power lanterns when
the students return home.With access to light—and the elimination of dirty and costly
kerosene-powered lamps—families save $100 a year and children have more time for work
and study, offering them a chance to rise out of poverty.
Being a tropical country India can use solar energy for providing electricity in cities, towns
and villages. Solar energy can be used on an unlimited basis and thus can solve energy
problems to a large extent in the country.
Installation of Solar Panels: “SO EASY”
The World Bank is committed to supporting India’s solar energy push. The Bank is
providing more than $1 Billion to support India’s solar plan, starting with a Grid Connected
Rooftop Solar project that aims to put solar panels on rooftops across the country, and
100MW of energy has already been financed through this project. Exactly a year ago, on
June 30, 2016, the institution signed an agreement with the International Solar
Alliance (ISA), consisting of 121 countries led by India, to collaborate on increasing solar
energy use around the world and mobilize $1 trillion in investments by 2030.

14. 6. MAJOR PRODUCTS
1. Solar Heater:
a) Solar Heater is a device which converts Sunlight into Heat Energy for water heating
using a solar thermal collector.
b) Used to heat Water.
2. Solar Cooker:
a) A solar cooker is a device which uses the energy of direct sunlight to heat, cook and
pasteurized drink and other food materials.
b) Used to cook food.
3. Laptop Bag Solar Charger:
a) It is a backpack equipped with thin film solar cells and batteries.
b) Used to charge Laptop or any other appliance.
SERVICES
1. We provide Solar Panel System for household and solar equipment and custom-made
commodities (Laptop Bag Solar Charger, Solar heaters, Solar cookers) to the target
market.
2. We provide solar panel rent/sale systems to advertising agencies for lightening the bill
boards.
3. We provide Lighting Services for event management so that events can occur well in
absence of electricity too.
4. We provide Technology review and recommendations.
5. We help in Solar panel installations and also, helps in maintenance of previously
installed Solar panels. We also provide first service free for installation of solar panels.

15. 7. MARKETING ANALYSIS
7.1 Target Market (Users of Outdoor Products & Services)
i. Corporate sector ( bill boards & hoardings)
ii. Retail outlets
iii. Beauty saloons
iv. Educational institutes
v. Street lights and Street signals (Long term planning)
vi. Real-Estate Developers and builders
7.2 Target Market (Users of Indoor Products & Services)
i. Residential Societies
ii. Household users
iii. Hostel
iv. Hospitality service providers
v. Old age homes
vi. NGOs
7.3 Target Market (Others)
i. Average-to-high-income commercial and household customers (above 150,000 SR
annually) who are in need of efficiency investments.
ii. People with high degree of awareness and concern for environmental and social
issues
iii. Care about using renewable energy sources.

16. 8. MARKETING PLAN
Marketing Strategies
1. Public Relations
i. Conduct seminars on corporate level to attract clients of advertising agencies.
ii. Information about company and products on Website.
2. Above the Line
i. Advertisements on billboards and newspaper.
ii. The advertisement campaign will deliver great impact and high awareness, to
turn shoppers in any shopping mall into buyers.
3. Sales Discount
i. Free LED with every purchase of product.
ii. Giving discount on bulk buying of products.
iii. Catchy and exciting offers.
Fig 7: PROMOTION THROUGH ADVERTISMENTS ON BOARDINGS

17. 9. PATNERS IN GROWTH
Our main Partners would be Channel Partners
i. Existing Solar Dealers
ii. Dealers of linked products
iii. Solar power startups as dealer.
iv. Franchisee in Rural area
v. EPC Installers
Suppliers
Our main suppliers would be from China.
Major suppliers are:-
i. Coursertech Co. Ltd
ii. Delight Lighting Co. Ltd.
iii. Danyang Hopesun World Business Co. Ltd.
iv. Greenwood Solar China Co. Ltd.
Fig 8: PARTNERSHIP

18. 10. COMPETITION MAPPING
The marketing strategies of the competitors are very important study and
creating counter strategies timely is effective marketing tool. But we keep our
main focus on the marketing of our products as long term goal with our
products usage and benefits to customers.
Main Competitors in India (Ranked on the basis of revenue, FY 2012-13)
Top 10 Solar Companies IN INDIA
Rank Company Revenue(in Rs million)
1
Tata Power Solar Systems Ltd 5104.67
2 Vikram Solar Pvt Ltd 3815.74
3 Emmvee Group 3619.11
4 Waaree Energies Ltd 2975.94
5 Moser Baer Solar Group 2421.67
6 Websol Energy System Ltd 1256.82
7 Photon Energy Systems Ltd 1116.02
8 Swelect Energy Systems Ltd 1054.98
9 Surana Ventures Ltd 949.90
10 Premier Solar Systems Pvt Ltd 722.61

19. Competitors at Global Level:-

20. 10.1 COMPETITIVE EDGE
i. Less number of player in this segment
ii. Cost effective equipments
iii. Real time marketing strategies
iv. Durability of products
v. 100% Customized product
vi. B2B and B2C Products & services
vii. Renting services
viii. After sale services
Total solar power installation in India-state-wise:-
Total Installed capacity- 1962 MW (As on October 2013)

21. 11. UNIQUENESS
To promote electricity generation using solar energy we have collaborated
with Government of India which launched Jawaharlal Nehru National Solar
Mission in January 2010.
As part of this mission the Government has initiated a subsidy scheme to help
individuals and organizations procure these Solar Energy Systems at reduced
capital costs. The scheme is being implemented by IREDA (Indian Renewable
Energy Development Agency Ltd.) through NABARD (National Bank for
Agriculture and Rural Development). We are approved my MNRE and
collaborated with Indian government for installing solar panels.
We provide solar panels at low costs as compared to other companies and do
certain offers and provides better services at your door steps and helps you to
invest in a right and a better direction.
We also provide solar products like:
 Solar Heater
 Solar Cooker
 Laptop Bag Solar Charger
We also provide supportive offers on solar cylinders and helps to evolve green
energy so that our country can stand with other countries.
We are also providing free LED bulbs with every solar panel and solar
products and also provides heavy discounts on buying solar panels before 31st
October 2018.

22. 12. COMPANY HIERARCHY
1. Initially, our company comprise of a Chair person under which 3 more
posts are comprised.
2. Three posts comprise of Company Secretary, managing Director and
Chief Vigilance Officer.
3. Managing Director is sub-divided into 3 more posts:
i. Director (Solar): It comprise of
a. Ground-mountain Solar Projects.
b. Solar Cylinders Projects
 Solar Heaters.
 Solar Cookers.
 Solar Geysers.
c. Rooftop PV.
ii. Director (Finance): It comprise of
a. Finance.
b. Accounts.
c. Taxation.
d. Institutional Financing.
iii. Director (HR): It comprises of
a. Administration.
b. Legal.
c. Public Relations.

23. Fig 2: Company hierarchy

24. 13. ANALYSIS
13.1 SWOT Analysis
13.2 John’s Mullins 7 Domain Model

25. 13.3 Porter’s Five Forces
13.4 Pestle Analysis

26. 13.5 VALUE PROPOSITION CANVAS

27. 14. BUSINESS MODEL CANVAS

28. 15. CASHFLOW

29. APPENDIX
Subsidy plan of government