Luminous Power Technologies Pvt. Ltd. is one of the leading electrical specialists in India having a vast portfolio comprising of Power backup solutions such as Home UPS, Batteries, Stabilizers and Solar Solutions to Home Electrical offerings such as Fans, LED lighting, Wires & Switches. Luminous has been in business for over 30 years now. It has 7 manufacturing units, more than 28 sales offices in India and presence in over 36 countries. With 6,000 employees, the company is able to cater to more than 60,000 channel partners and millions of customers. Company’s motto has always been customer delight through innovation & passion with focus on execution & team-work.
Going forward, the company which is celebrating the completion of 30 years of excellence, has unveiled its widest range of solar solutions for homes and small business establishments. Following which, we, at LED World, met Sachin Bhalla, Sr. Vice President-Marketing to know more on the potentials for solar power in the Indian market and how the company is strategising to grab those opportunities. Here are the edited excerpts to follow:
What made Luminous to enter the Solar Power segment?
As we already have a very long standing history in the power backup industry owing to our power solutions business, we identified solar sector as another growth area where we offer our consumers complete end-to-end residential solar solutions. Today we are one of the biggest player in home solar segment.
What’s there in the company’s new portfolio for Solar products?
Let me tell you that before unveiling this new range, we spent last few years in R&D on developing products and technology for solar power industry, and remained focused on upgrading to solar. No wonder, we have unveiled the widest range of solar products & solutions with special emphasis on innovation. Our product portfolio consists of solar panels, inverters, charge controllers and batteries for all types of residential as well as for small commercial requirements. We have also launched Regalia which is a wall-mounted Lithium Ion-run power back up system that is solar-enabled. This new inverter comes in two variants of 500W and 900W power with in-built lithium ion batteries, which can store power from both, grid lines as well as solar. We now offer individual components as well as end-to-end rooftop solar solutions.
What are the features of your home solution range? Why should one rely on Luminous?
With our solar products we are focussing only on home solutions, which is why we have a range of 500W to 25kW. Besides, we have all the answers that are needed to address the concerns of home owners or small shop owners. We have a trusted relationship with our customers as we are catering to their power needs for more than three decades. We have to live up to the expectations of delivering the same value in solar which we have done in inverters and batteries business. And, therefore, we would like our valued customers to trust the same way and allow us to cater to them with quality solar products and solutions as per their requirements.
What differentiates Luminous from the league?
Understanding the customer requirement and deploying appropriate solution is the core to succeed in solar business along with a robust service network. Home solution market is not as big as power backup market today. Therefore, companies entering in to this segment have neither yet understood the needs of the consumer properly nor have they created a service network needed to fulfil the requirements. However, we have a tried & tested range of products for each & every solar need and a very strong service network is in place owing to our already established power backup business. Our technicians are fully trained and well-versed in tackling any issue related to solar solutions.
Why Luminous is so late in the solar power market?
Luminous has been in this business for last five years. Till the last two years, the market was only restricted to places where the power cut was very high and the existing power back up system was unable to fulfill the requirements. However, now there is a shift in the focus of the business owing to the rapid increase in the cost of power and increased adoption of solar in homes.
Where do you source the panels? How do you check the quality?
We have the best quality vendors/suppliers to whom we provide our technical specifications based on which they manufacture PV cells or solar panels for us. These panels go through rigorous quality checks before Luminous logo is printed on them.
Which all factors are driving solar power business in India?
Yet to improve power distribution system, power cuts, increasing cost of electricity, and rising fuel (diesel) prices are together aiding solar power adaption. People are also becoming more aware of the short term (savings) as well as long term (sustainable environment) benefits of harnessing solar power.
How do you plan your presence in the market?
We already have a well-established distribution network owing to our decades-old power backup business. We are training these partners to educate the consumer and suggest the correct solution as per his need. At the same time we are offering our products to new system integrators in the market.
What is the contribution of Solar Power business in the company’s total revenue?
We are expecting 10% contribution from our solar power business to the company’s total revenue. However, we hope to increase this contribution to 15% in the next fiscal.