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Home » Power Talk » India’s energy equipment business to double by 2028

India’s energy equipment business to double by 2028

March 8, 2023 11:38 am

India’s energy equipment business to double by 2028
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Meco Instruments has always been a patron of ELECRAMA. Participated in all 15 editions and saw the show grow. Meco Instruments demonstrated its dedication to energy efficiency through its monitoring products and solutions, as underlined by Dr. Kamal Goliya, CEO of Meco Instruments, with a renewed focus on sustainable energy.

Meco has a wide range of products used in the installation, maintenance, and commissioning useful in all aspects of electrical distribution, transmission, generating, or distribution. They also have metres with communication protocols that deliver intelligent data for efficient system management.

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How do you evaluate India’s energy transition? 

According to the government of India’s vision, the power ministry must ensure the delivery of electricity continuously for the next few decades to support the country’s growth. So, generation, transmission, and distribution will expand during the next five years, to support the manufacturing capacity and infrastructure of the country. Within the country, there is huge scope. When contemplating export growth amid global challenges and development, we must enhance and optimise our efficiency.

How are intelligent systems and technologies helping you to maintain efficient power transmission?

When we say “smart,” we mean a meter that process and gives a lot of information, whether that information is used appropriately for power billing, predictive maintenance or forecasting. A smart meter comes with a lot of intelligence and there is no need to manually collect data by classifying it to draw relevant conclusions. Smart meters’s data can be used intelligently to use power more efficiently, cut costs and boost competitiveness.

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What are the challenges in monitoring power systems in remote locations?

India’s progress has occurred over the last 75 years. The equipment has been installed in various phases in our large geography, whether from India or elsewhere. Everything has not come up all at once but has evolved in different stages. As a result, there are several generations/versions of installations, each with its own set of technologies. Transforming these largely fossil-based systems into intelligent and efficient systems to match the modern systems over large distances is a key challenge today. But the best part is that if we expand fast as per our forecasted GDP growth rate, everything we’ve done in the last 75 years will have to be done in the next five years. We should use cutting-edge technology during those five years. It will be more efficient, cost-effective and lean. Therefore I don’t see it as a challenge but as a big opportunity.

How do you ensure both quality and cost-effectiveness? 

Many individuals believe that quality is costly. It is otherwise. Consider a low-cost building with thin walls and improper windows that lack proper insulation and soundproofing. Initially, this structure may be constructed at a low cost. However, additional expenses accumulate during its lifetime, whether for frequent breakdowns and maintenance, additional air conditioning due to poor insulation of the windows etc.

Hence quality is essential; our products and services must be of high quality. And, if done correctly, we can keep the costs under control. Quality should never be compromised, no matter what. It could be more expensive in the beginning but pays back handsomely in the long run.

Meco Instruments_EPR Magazine

What is your observation on India’s energy transition and evolution?

Most new energies, such as hydrogen, sodium, and electric vehicle battery charging, are all finally solar-related. Additionally, with India fortunate to have high solar radiation exposure, the difficulty is not generation, but how to store energy during non-usage hours. Battery storage will be beneficial after we overcome its difficulties. Another major aim will be to reduce emissions. For nations with outdated systems and infrastructure, it will be tough to upgrade to new infrastructure and reduce emissions.

What is your strategy to strengthen the value chain of the electrical industry?

Our primary goal has always been to serve the needs of the mid-segment of the market by offering reliable, long-lasting and affordable products. The mid-market group is the largest, consisting of clever individuals who are cost conscious, and have limited resources but want a lot to be accomplished. MECO has always concentrated on this segment of the market. We ensure that our products and solutions are correctly designed, tooled and produced. For this significant segment of the market, volumes are substantial and because we work in high volumes, we can manage our expenses and give our customers fair value for their money.

For more details visit: https://www.mecoinst.com/

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