Investment in renewable energy hit record levels in India in the FY 2021-22, according to a report from the Institute for Energy Economics and Financial Analysis. A total of $14.5 billion was invested in renewable energy, up by 125% compared with FY 2020-21 and 72% higher than in the pre-pandemic period of FY 2019-20. Solar Assets is something that significantly contributed to this rising surge and as per a report, India has the potential to generate $212 billion in revenue by investing in renewable energy by 2030. Catering to this huge demand and providing convenience to the people, VEFES.ai, an innovative startup that allows you to Buy, Rent out, and Trade in Renewable Assets creating a Digital Bank for Solar Investments, has officially announced the launch of their Mobile-based Application.

VEFES was incepted by Kaustubh Vagal, a technocrat based out of Mumbai, with the idea of Digitalising Solar Ownership.

While sharing his journey, Kaustubh Vagal, the Managing Director of VEFES says, “Creation of Solar Verse of Physical Solar Assets where a user can virtually Purchase, Interact and Track”.

Taking the collaboration with Namitech to the next level, VEFES.ai is launching – India’s 1st Solar Fintech App at the World’s Biggest – Global Fintech Fest 2022 (Booth No. F-26; Jio World Convention Centre, Mumbai), where Namitech, a 25 MW Producer has listed its 2 MW Solar Assets on VEFES.ai platform.

The Application by VEFES aims to provide a Single Umbrella Platform to Own Solar Energy Assets while you Earn Rental Income. Once you register on the application, below are the features you can enjoy!

  • Check currently listed projects where Average Annual Returns changes on a project-to-project basis.
  • You shall have a look at MetaVerse of the Power Plant where you invest in and receive real-time updates daily.
  • Compare your Solar Investments with other investment options.
  • Creating a Community that will ensure the Energy Ecosystem participants (i.e Panel Owners, Power Parks, and Energy Consumers) to stay interconnected.

Currently, India is the fifth-largest Solar Installed Capacity in the world. Soon it will be going completely Solar creating a huge opportunity for the startups that are working towards developing Sustainable Energy Technologies. On Solar projects, you can expect Average Annual Returns of above 16% as per renewable.org. Additionally, on top of this, owning or renting out solar panels assists you in claiming depreciation on these panels under section 57 (ii) of the Income Tax Act, 1961, eventually helping you in your pursuit to save tax. IRR on Solar Panels is solid, consistent, and better than any other investment opportunity like Mutual Funds which are risky and volatile in nature, and PPF which barely gives any returns. One might agree with the fact or argue against it but Solar Panels is a Green Alternate Asset Class that provides Stable Returns as compared to other sectors of investments and this is why earnings from solar have emerged as one of the people’s most preferred forms of investments.

Despite so much potential for both Sustainability and Investment, Solar Industry, unlike the other sectors, has lacked behind in the aspect of Digitization. To alter this trend and to Create a Digital Solar Ownership Ecosystem, VEFES.ai has launched its Mobile-based Application. The startup has embarked on a mission to expand the Energy Community by creating opportunities and employment for Equipment Manufacturers, Engineers & Contractors, Power Producers, etc. Additionally, VEFES.ai also seeks to revolutionize the entire expanding Energy Ecosystem in India through developing new-age world-class Innovative Solutions like AI-based Patented technology.

VEFES.ai, through announcing the launch of their application, envision providing you with a hassle-free One-Stop Solution for all your Solar Requirements.

Get more to an App, Download the App now, on Play store & App Store. Also, to know more, Visit our website https://vefes.ai/app

Come with Us, Join the Revolution!