AHAsolar ahasolar

Technologies Ltd.

July 2023

Investor
Presentation

We Digitalize Solar
Agenda
Corporate Business Financial IPO
Overview Overview Performance Details
3 to 12 13 to 20 21 to 23 24 to 29

2 July 2023 Investor Presentation of AHAsolar Technologies Limited

Corporate
Overview
• Stakeholders
• Company at Glance
• Company Snapshot
• Company Overview
• Our Journey
• Business Verticals
• Leadership Team
• Financial Overview
CURRENT PROCESS
FLOW OF ROOFTOP SOLAR OPERATION

Government
Agencies

Solar Installer - Approval for Registration

End Consumer - Sales Order
- Funding for New Purchase - Payment of Charges
- Collect Documents & Payment - Documentation
- Service after Installation - Closure
- Timeline Tracking
Procurement of Components from OEM - Subsidy

- Project Tracking
- Work Management with - Sales Visit
multiple teams - Site Survey
- Design & Technical Drawings - Execution & Installation
- Reporting, Monitoring & - Service & Maintenance
Planning Office Team
Field Team
July 2023 Investor Presentation of AHAsolar Technologies Limited
ahasolar
CURRENT PROCESS
FLOW OF ROOFTOP SOLAR OPERATION

Government
Agencies
Deals in hardcopy for all
activities
Solar Installer - Approval for Registration
End Consumer - Sales Order
- Funding for New Purchase Follow-up meetings - Payment of Charges
- Collect Documents & Payment at Offices for status - Documentation
- Service after Installation enquiry leading to - Closure
multiple visits - Timeline Tracking
Procurement of Components from OEM Project Management done - Subsidy
through manual reports
Unorganized and excel based methods
Distribution
Market

- Project Tracking
- Work Management with - Sales Visit
multiple teams - Site Survey
- Design & Technical Drawings - Execution & Installation
- Reporting, Monitoring & - Service & Maintenance
Planning Office Team
Field Team
July 2023 Investor Presentation of AHAsolar Technologies Limited
ahasolar
CURRENT PROCESS
FLOW OF ROOFTOP SOLAR OPERATION

Government
Agencies

AHA Solar Consumer App

Solar Installer - Approval for Registration
End Consumer - Sales Order
- Funding for New Purchase AHA Solar - Payment of Charges
- Collect Documents & Payment Government Portal - Documentation
- Service after Installation - Closure
- Timeline Tracking
- Subsidy
AHA Solar Helper Software

- Project Tracking
- Work Management with - Sales Visit
multiple teams - Site Survey
- Design & Technical Drawings - Execution & Installation
- Reporting, Monitoring & - Service & Maintenance
Planning Office Team
Field Team
July 2023 Investor Presentation of AHAsolar Technologies Limited
ahasolar
COMPANY
AT GLANCE The new funds will be
AHAsolar Technologies Limited, the driving force behind a remarkable transformation in the utilized to build up
distributed solar PV space. Founded as a start-up in July 2017, AHAsolar has evolved into a profitable renewable and digital
company that has left an indelible impact on the industry. We have revolutionized the solar solutions for the end
landscape by creating a robust digital ecosystem for the government, solar installers, and customer to adopt solar
manufacturers. We work in the space of Climate Change, Renewable and Digital. energy effortlessly and
10x the onboarding of
Our journey began with a vision to leverage the power of solar PV and information technology to Solar Installer
reshape the way solar businesses operate. Today, we stand proud as a trailblazer, having created a
significant impact in the distributed solar sector with 70% of Residential solar installed in India
happened through our platform for Surya Gujarat.

We have developed an AI powered intelligent Solar Digital Platform for Solar Installer &
Government Agencies. The Software for Solar Installer is a full-stake Design & Supply Chain
Software helping Solar Companies to deploy Rooftop Solar quickly.

It acts as a key enabler, bringing process and design automation through SaaS solution along with
procurement transparency and credit availability through the Solar Marketplace.

The robust Marketplace enables cheaper procurement, provides short-term embedded credit
(through NBFCs) to meet installers’ working capital requirements, and offers long-term financing
options for end customers of solar installers. The end customer also gets the post installation
monitoring solution to enhance the operating efficiency.

The other vertical is of advisory to help corporates and government with technical and transactional
advisory to adopt solar.
Page 77
Page July 2023 Investor Presentation of AHAsolar Technologies Limited
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 COMPANY
SNAPSHOT

48+ years 4,100+ 61 times

of cumulative promoter’s industry solar installers Growth in the Earning Per Share
experience in Solar and IT on AHAsolar platform Across (EPS) in last 3 years
India with 400+ paid users*

154% 333% 340%

Revenue CAGR from FY20 to FY23 EBITDA CAGR from FY20 to FY23 PAT CAGR from FY20 to FY23

3 3,000+ MW 20+
Verticals enabled solar installation capacity Ongoing Projects
a Profitable Start-up through ahasolar platform ** in Advisory vertical with
strong order book of private
and public projects

*Paid for the ahasolar software and marketplace

**All Platforms of AHAsolar Helper including Government Platforms used by Installers and Whitelabel Users

Page 8 July 2023 Investor Presentation of AHAsolar Technologies Limited

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 COMPANY
OVERVIEW (1/2) A Single Platform for
all Stakeholders to
Adopt Solar Energy
Digital positioning across Solar Value
AHAsolar Technologies Limited
(‘ATL’), incorporated in 2017.
Chain

A CleanTech Company
• to enable Energy Transition 11 % 14% 75%
• through Digital of Total Revenue of Total Revenue of Total Revenue
Transformation
Proposed
We offer solutions &
products in the field of
renewable to B2B, B2G
SaaS and One- Marketplace to ** Innovative Model for
Advisory Services Buy Solar
Business Verticals time Software Development of Solar PV
Services Products Plant and EV
• Software Services Infrastructure
• Advisory & Consultancy
End users
• Marketplace Solar Installers & Corporates & Government
Solar Installer, OEM &
Distributors (Consumer)
Development Corp.

* As on March 31, 2023

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 OUR 8

JOURNEY

2017 2018 2019

Digital Ecosystem B2B Solar App 2020
Incorporated Expansion & Growth
Creation Launched
• AI powered Solar PV Designing
• A Start-up incorporated • Developed 1 st Government Side • Developed Digital Ecosystem
Software integrated in Solar App
as a Pvt. Ltd. Company and Installer side Software for for World’s Biggest Rooftop
Solar industry Solar Programme of Gujarat • Increased the SaaS business for Solar
PV Installer to 5 States
• Launched the Solar Installer
Digital Platform (SaaS solution) • Received Award for Renewable Digital
Award & Emerging Company of the year
Impact created by developing a
2022
market of 3000MW Distributed 2023 INTEGRATION OF SOLAR APP 2021
Solar by enabling through AHA
Platform Scaling Up WITH MARKETPLCAE ISO CERTIFICATE

• We provide a Digital Ecosystem for • Received Gujarat State Award for • Solar Marketplace integrated to the • Receipt of ISO
Faster adoption of Solar Energy and
providing bridge to connect the Physical contribution in Technical Excellence AHAsolar Platform 9001:2015,ISO
World of Solar with AHA Solar Digital in developing Solar App to Help • Online Buy and Sell of Solar Products • 27001:2013 and ISO
Solution Solar PV Installer on a single platform of AHAsolar 45001:2018 for
• As of March 2023, we have created an • Crossed cumulative Turnover of ₹40 • development Software
Impact in Green Ecosystem with enabling Cr.
Rooftop Solar adoption of 3GW (4 lacs+ and Process Automation
houses) and upskilling 3000+ Solar Installers • Started R&D in development of Solar and Designing of
and enabling business in the ecosystem. Solar PV Plant and EV PV
Infrastructure Development Model
AHASOLAR TECHNOLOGIES for large scale adoption of solar
LIMITED
Page 10 July 2023
energy digitally to masses
Investor Presentation of AHAsolar Technologies Limited
ahasolar
BUSINESS
VERTICALS
All Verticals are Integrated
with a Vision of Solar &
Digital
1. A Tech driven company with
Software as a Service (SaaS)
being core of the Strategy to help
Solar Installer manage the Work
and communication

2. Advisory vertical is to work with

government and corporates to
create a conducive ecosystem

3. Marketplace is a uniquely placed

strategic vertical which increases
the onboarding of Solar Installers
which are then transitioned to SaaS
& provides them an end-to-end
digital journey with materials,
services & finance

ahasolar
COMPANY
OVERVIEW (2/2)
Financial Highlights FY 2021 FY 2022 FY 2023

Revenues (Rs. in Lakhs) 187.61 1,713.33 2,104.23

EBITDA (Rs. in Lakhs) 10.91 93.84 193.64

EBITDA (%) 5.82% 5.48% 9.20%

PAT (Rs. in Lakhs) 7.91 68.63 176.38

PAT (%) 4.22% 4.01% 8.38%

Net-worth (Rs. in Lakhs) 10.08 78.71 405.07

Page 12 July 2023 Investor Presentation of AHAsolar Technologies Limited

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Business
Overview
• Client & Footprints
• Strengths
• Project Under Execution
• Recognitions
• Software Snapshot
AHASOLAR DIGITAL
ECOSYSTEM

AHA has created an Eco-system for

Solar Companies, Government, OEM and
Consumers
to accelerate the Solar Adoption
We are a Tech. Platform for distributed solar company to automate Solar project, Sales,
Design, Operations, Procurement and Management

*AHA stands for ALL HELP AVAILABLE

Page 14 July 2023 Investor Presentation of AHAsolar Technologies Limited

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BUSINESS ASSOCIATES
AHA FOOTPRINTS Institutional Clients Development
Corporations
Solar Companies

Corporates & Consulting

Firms

Solar EPC Companies using

SaaS Subscription + many
more

Awards & Partnered Service

AHAsolar Software
https://bit.ly/2SiGcgg Recognition Providers
AHA In
News

AHAsolar Marketplace https://bbc.in/34ktbWl

https://bit.ly/3fBPls3
Advisory & Consultancy

15 July 2023
https://bit.ly/3vfkubt
Investor Presentation of AHAsolar Technologies Limited
ahasolar
COMPETITIVE STRENGTHS
& BUSINESS STRATEGY
➢ A successful start-up turned Profitable for last 3
years
Achieving
Operational
➢ Experienced Promoters and Management Team Efficiency
Increase
in Volume
➢ Well-defined organizational structure of Sales
Edge over
Competitors
➢ Existing Supplier Relationship
Business
➢ Customer Relationship Strategy Increase
Brand
Visibility
➢ Asset Light Business Model
Edge over
Competitors
➢ A Professional driven company with good
Employees shareholding to have inclusiveness in
the growth of the organization Customer
Satisfaction

➢ Invested more than Rs. 3.5Cr+ in Technology

Development last 5 years

Page 16 July 2023 Investor Presentation of AHAsolar Technologies Limited

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ONGOING
ADVISORY PROJECTS
Client Name No. of Ongoing Work Orders
Gujarat Urban Development Company : 3
Mahatma Phule Renewable Energy & Infrastructure Technology Limited : 3
(MAHAPREIT)

German Development Corporation (GIZ) : 2

Goa Energy Development Agency (GEDA) : 2
Hindustan Petroleum Corporation Limited (HPCL) : 1

22
Bharat Petroleum Corporation Limited (BPCL) : 1
Tenughat Vidyut Nigam Limited (TVNL) : 1
Coal India Limited (CIL) : 1 PROJECTS

Uttarakhand Jal Vidyut Nigam Ltd. (UJVNL) : 1

MVP : 1
KPMG and Asian Development Bank (ADB) : 1
Andhra Pradesh Power Generation Corporation (APGENCO) : 1
Confederation of Indian Industry (CII) : 1
National Solar Energy Federation of India (NSEFI) : 1
Gujarat Energy Development Agency : 1
ahasolar
Page 17
Aeon July 2023
Software Investor Presentation of AHAsolar Technologies Limited
: 1
 RECOGNITIONS

Award received to AHAsolar for being a

valuable Partner in the Solar Industry by
Leading Solar Inverter Manufacturer

Mr. Pulkit Dhingra, Director, AHAsolar and with CFF40 Financial Facility Team with
Deputy Head of Mission in Mumbai, Catherine Barnes, British High Commission &
General Manager BEST, Mumbai

Tech Excellence Award for developing Honorable Chief Minister of Goa launching
the AHAsolar Portal developed for Goa
Chief Minister of Goa, praising AHAsolar Technology Ld. For digitalizing Solar
July 2023 Investor Presentation of AHAsolar Technologies Limited
Solar App for Solar Installers by Technical
Advisor, Climate Change Department ahasolar
18
Ecosystem in Goa
AHA SNAPSHOT
SOFTWARE

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 LEADERSHIP
TEAM Pulkit Dhingra Shatrughan Yadav
(14 Years)
Garima Heerani
(5 Years)
(11 Years)
Piyush Bhatt Promoter & Promoter & Executive Director
Executive Director (Sales & Marketing)
(27 Years) Whole-time Director
Promoter & He has completed Bachelor of Engineering He has completed Bachelor of Engineering She has completed Bachelor of Commerce from Gujarat
Managing Director (Electrical & Electronics) from Visveswaraiah from Gujarat University in 2008. He has also University in 2013. She has also completed Master of
Technological University in 2009 and Master completed Master of Business Administration Business Administration under Energy and
He has completed Bachelor of Arts from North of Business Administration under Energy and under Marketing from Gujarat Technological Infrastructure from Pandit Deendayal Petroleum
Gujarat University in 1993 having certification Infrastructure from Pandit Deendayal University in 2021. University in 2016.
course as Microsoft certified Application Petroleum University in 2013.
Developer. He is having experience of more than 14 years She is having experience of more than 5 years in Sales &
He has been instrumental in taking major in Renewable Energy sector. He has been Marketing. She has been playing vital role in marketing
He has been instrumental in taking major policy policy decision of the Company and in playing vital role in technological matters of related matters of the Company.
decision of the Company and in leading the leading the Company with vital role in the Company.
Company with vital role in formulating formulating business strategies and effective
business strategies and effective implementation of the same. Solar PV Technology Product Development Sales Marketing
implementation of the same.
Solar Policy & Strategy &
Software Development Regulation Business
AI & ML
Vipin Sharma
(11 Years)
Promoter &
Chief Operating Officer

Ranjan Baheti
Sharad B. Patil Ashok R. Patel Vilin D. Davda (9 Years)
(38 Years) (35 Years) (20 Years) Chief Marketing
Independent Director Independent Director Independent Director Officer

Mr. Sharadchandra Babhutabhai Patil, aged 65 years Mr. Ashokkumar Ratilal Patel, aged 64 years is an Independent Mr. Vilin Devkaran Davda, aged 42 years is an Pritesh Mashru (22
is an Independent Director of the Company. He has Director of the Company. He has completed Bachelor of Commerce Independent Director of the Company. He was Years)
completed Bachelor of Technology from Mahatma from Gujarat University in 1978 and Master of Commerce from He has completed Bachelor of Science from Chief Financial Officer
Phule Krishi Vidyapeeth in 1982 and Master of Gujarat University in 1980. Gujarat University in 2000. He has also
Science from University of Manitoba, Canada in 1984. completed Diploma in International Trade
He has also completed Cost Accountancy course of The Institute of Management conducted by Global Network in Vrunda Patel
He is having experience of more than 38 years in Cost and Works Accountants of India in 1982. Further, he has 2002. (7 Years)
Energy Sector. completed Chartered Accountants course in 1985 and is member of Company Secretary
Institute of Chartered Accountants of India. He is having He is having experience of more than 20 years Compliance Officer
experience of more than 35 years in Accounting and Finance. in Business Management.

Page 20 July 2023 Investor Presentation of AHAsolar Technologies Limited

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Financial
Performance
• Revenue Model
• Financial Performance
REVENUE
MODEL CLIENT

Solar EPC Corporates | Government Consumer

SOFTWARE
Subscription

SaaS for Managing Solar

Rooftop and allied SOFTWARE
SOFTWARE Programmes Portal for Managing Solar Rooftop
A SaaS for Solar EPC Project & Design Programme and allied Programme
Management
SOLAR PV DEVELOPMENT
A Fractional Ownership of Solar Energy
REVENUE STREAM

Commission

AHA MARKET AHA MARKET CARBON CREDIT

Marketplace for Solar Products & Marketplace for Solar Products & Facilitating Carbon Credit Market by
Services Services Enabling the Buyer & Seller execute deals
One Time Fees

ADVISORY AHA MARKET

ADVISORY
Enabling Corporates and Government to
Enabling Corporates and Marketplace for Solar Products & adopt solar through advisory and
Government to adopt solar through Services consultancy service
advisory and consultancy service

22 July 2023 Investor Presentation of AHAsolar Technologies Limited

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FINANCIAL PERFORMANCE
YEAR-ON-YEAR
Revenue (Rs. in lacs)– Consistence growth in revenue EBITDA (Rs. in lacs) & EBITDA Margin – Consistence growth

2,500 250 10.0%

2,105 9.2%
200 194 8.0%
2,000 1,715
1,500
154% 150 5.8%
5.5%
6.0% 333%
94
CAGR 100 4.0% CAGR
1,000
FY20-23 50 1.8% 2.0% FY20-23
2 11
500 129 188 - 0.0%
- FY 2020 FY 2021 FY 2022 FY 2023
FY 2020 FY 2021 FY 2022 FY 2023
EBITDA (Rs. in Lacs) EBITDA (%)

PAT (Rs. in lacs) – Consistence growth Net-worth (Rs. in Lacs) – Consistence growth

200 176 10.0%

500 405
8.4% 8.0%
150 400
6.0% 300
100 4.0% 340% 200
4.2% 4.0% 79
69
CAGR 100 10
50 2
2.0% FY20-23
1.6% 2 8 -
- 0.0% FY 2020 FY 2021 FY 2022 FY 2023
FY 2020 FY 2021 FY 2022 FY 2023

PAT (Rs. in Lacs) PAT (%)

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IPO Details
• Object of the Issue
• IPO Details
• Investment Rationale
• IPO Intermediaries
• Disclaimer
OBJECTS OF THE
Issue Particulars Amount % of Gross
7.96%
(₹in Lacs) Issue Proceeds
Development of Solar PV Plant 705.13 54.88 %
15.25%
Setting up of Electric Vehicle
32.50 2.53 %
Charging Infrastructure
54.88% Purchase of Electric Vehicles 9.02 0.70 %
To Meet Working Capital
240.00 18.68 %
Requirements
18.68%
General Corporate Purpose 195.94 15.25 %

0.70%
Public Issue Expenses 102.29 7.96 %

2.53%
Total 1248.88 100.00%

Development of Solar PV Plant

Purchase of Electric Vehicles
To Meet Working Capital Requirements
General Corporate Purpose
Public Issue Expense
Setting up of Electric Vehicle Charging
Infrastructure

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Investment
Rationale
➢ Ample Growth Opportunity as we operates in a rapidly expanding
Untapped Market
solar industry Lucrative Market having Potential. In our case we are
Opportunity
ready with the product development & scaling is needed.

➢ Worldwide movement of adoption of solar energy. We have 20+ Healthy Balance

Ongoing Projects & increase in SaaS subscription with integrated Sheet
marketplace will fuel our next growth cycle.

Investment in
➢ We differentiates us through the Innovative Technological Scalable Technology offers
Solutions empowering all stakeholder i.e. Solar Installers, long-term advantage
Manufacturers, Policymakers & Consumer.

➢ Our transformative e-commerce marketplace empowers solar Higher Growth &

installers, revolutionizing procurement. By connecting directly with Potential Returns
OEMs and distributors, we eliminate transactional costs, delivering
unparalleled value.

➢ Investment to go in Development of Solar Plant and EV Expanding Product

Infrastructure to make solar energy accessible to consumers living Offerings for
in flats or not having roofs through fractionally owned assets 1World- 1Sun- 1Grid

July 2023 Page 26

Investor Presentation of AHAsolar Technologies Limited
ahasolar
IPO
Details
Particulars Details
Issue Size (Fresh Issue) 8,18,400 Shares
Market Maker Quota 42,400 Shares
Retail Quota 3,88,000 Shares
Non-Retail Quota 3,88,000 Shares
Price ₹ 157/-
Lot Size 800 Shares
Face Value ₹ 10/-
Pre-Issue No. of Shares 22,63,888 Shares
Post Issue No. of Shares 30,82,288 Shares
Issue Open Monday, July 10, 2023
Issue Close Thursday, July 13, 2023
Listing on BSE SME

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IPO
INTERMEDIARIES

Lead Manager Registrar Escrow Bank

BEELINE CAPITAL ADVISORS PRIVATE KFIN TECHNOLOGIES LIMITED AXIS BANK LIMITED
LIMITED

Page 28 July 2023 Investor Presentation of AHAsolar Technologies Limited

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 DISCLAIMER
No representation or warranty, express or implied, is made as to, and no reliance should be

Contact Us
placed on, the fairness, accuracy, completeness or correctness of the information or opinions
contained in this presentation. Such information and opinions are in all events not current
after the date of this presentation. Certain statements made in this presentation may not be
based on historical information or facts and may be “forward looking statements” based on
the currently held beliefs and assumptions of the management of AHAsolar Technologies
Limited (“ATL” or “AHAsolar Technologies Limited”), which are expressed in good faith and in
their opinion reasonable, including those relating to the Company’s general business plans
and strategy, its future financial condition and growth prospects and future developments in
its industry and its competitive and regulatory environment. Forward looking statements
involve known and unknown risks, uncertainties and other factors, which may cause the actual
results, financial condition, performance or achievements of the Company or industry results Beeline Capital Advisors Private Limited
to differ materially from the results, financial condition, performance or achievements [email protected] |
expressed or implied by such forward looking statements, including future changes or [email protected]
developments in the Company’s business, its competitive environment and political, economic, www.beelinemb.com
legal and social conditions. Further, past performance is not necessarily indicative of future
M: +91 9687692225 | 9227443340
results. Given these risks, uncertainties and other factors, viewers of this presentation are
cautioned not to place undue reliance on these forward-looking statements. The Company
disclaims any obligation to update these forward-looking statements to reflect future events or
developments This presentation is for general information purposes only, without regard to
any specific objectives, financial situations or informational needs of any particular person. This
presentation does not constitute an offer or invitation to purchase or subscribe for any
securities in any jurisdiction. No part of it should form the basis of or be relied upon in
connection with any investment decision or any contract or commitment to purchase or
subscribe for any securities. This presentation may not be copied or disseminated, in whole or AHAsolar Technologies Limited
in part, and in any manner.
[email protected] | [email protected]
www.ahasolar.in
M: +91 96629 72012 | +91 98982 22199

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Additional Slides
 FAQ
Q5
What is investment in Solar PV plant about?
Q1 What is investment in Solar PV plant about?
Under this, in a large solar plant, a small solar/cleantech enthusiast
We will be investing in Solar PV plant to generate electricity.
will have opportunity to contribute, for environmental cause and
Q2 monetary benefits.
How the electricity generated be sold?
Individuals can invest small amounts in large solar PV plants, and
The generated electricity will be sold to consumers or will be
can off set their electricity bills, against power units generated by the
fed into the grid.
plant.
Q3
How the individual consumers be part of Solar PV plant Q5
How be the "Fractional Owner" rewarded for his investment in
investment?
Solar?
Individual consumers (not having rooftop) will have opportunity
The benefit of electricity unit generated will be credited to his wallet.
to fractionally own large scale utility solar PV plant.
The balance in wallet can be utilized for paying off his electricity bill.
Q4
Explain "Fractional Ownership" a bit more. Q6
Whether Discom accept such arrangement of payment of electricity
Under this, in a large solar plant, a small solar/cleantech
bill through wallet?
enthusiast will have opportunity to contribute, for environmental
This is a "participative" model based on subscription. The benefit of
cause and monitory benefits.
subscription in wallet can be converted to monetary value for
Individuals can invest small amounts in large solar PV plants,
offsetting electricity bill.
and can off set their electricity bills, against power units
generated by the plant. Q7
What about "Income tax" on such benefits (return on investment) in
the hands of subscriber?
The benefit would be liable to tax as per tax slab and tax profile of
the subscriber.

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