Solar energy storage also is going to be the game-changer

Globally, solar energy storage also is going to be the game-changer. “As battery costs drop, solar-plus-storage will become the new normal,” says Damian Miller, Co-founder & CEO of Orb Energy in an exclusive interaction with Bizz Buzz.

The global solar energy market is projected to grow significantly by 2026. What key trends do you foresee shaping the solar industry globally and in India over the next five years?

I see grid independence becoming a bigger conversation, especially in India. Businesses are tired of high electricity bills coupled with power cuts. That’s pushing more SMEs to adopt rooftop solar, not just as a green move, but as a strategic one to enhance their competitiveness.

Globally, storage also is going to be the game-changer. As battery costs drop, solar-plus-storage will become the new normal. In India, that’s still a bit further off due to cost, but we’re watching it closely. Another big shift is digitalisation—remote monitoring, predictive maintenance, and smart inverters are making solar more efficient and transparent.

And finally, financing models. Some solar manufacturers are now offering in-house financing options for SMEs to adopt rooftop solar. Instead of expecting customers to go through traditional banks—with 3–6 month wait times, collateral demands, and large down payments—these models provide zero down payment, zero collateral finance, and approval in just about a week, making solar adoption faster and easier for small businesses.

What are the primary challenges that SMEs face when transitioning to solar energy, and how can the broader ecosystem better support their shift to clean energy?

Financing, without a doubt, is the biggest roadblock for SMEs. Most small businesses understand the long-term benefits of solar. The issue is the upfront cost. For many, tying up capital in solar panels just isn’t feasible when they’re managing cash flow for inventory, salaries, and daily operations. Some solar providers have recognized this challenge early on and developed in-house financing solutions specifically for SMEs. These solutions are designed to be simple, fast, and tailored to their needs—removing unnecessary hurdles and making solar affordable through flexible payback options.

Beyond financing, there’s also a knowledge gap. SMEs often don’t have the bandwidth to evaluate system designs, understand warranties, or sift through vendors. So the ecosystem—policymakers, financiers, and technology providers—needs to step up with greater transparency, more accessible education, and turnkey support to help businesses make informed decisions and accelerate clean energy adoption.

Could you walk us through the Solar Park models and financing solutions that are making solar adoption more accessible?

Solar Parks are a great solution for companies with high energy needs but limited rooftop space. Through open access, an SME customer with limited roofspace but high power needs can own an offsite portion of one of our solar parks, and see an offset on their electricity bill for the power they produce off-site. It’s efficient, scalable, and gaining traction, especially among the larger enterprises we serve.

What are some of the most promising innovations in solar technology that you are closely watching or investing in?

We are seeing much faster technology cycles today than when we started 18 years ago, which as a manufacturer can be challenging, as technology can become obsolete more quickly. But for our customers, this is excellent, as it’s leading to more regular increases in the efficiency of a solar panel. Today the highest efficiency solar modules being produced commercially at scale are called TOPcon and provide 22.5% efficiency – when we started the businesses 18 years ago module efficiencies were 14-15%.

What this means for the customer is that they can generate more and more power from their limited roof space. And we now see, for example, that it actually makes sesnse for customers to de-install older panel, and re-install the latest ones to dramatically increase the power ouput from their rooftop.

How do you evaluate the current policy framework for solar in India, what's working well, and what gaps still need to be addressed?

India’s policy environment for solar has come a long way. The intent is strong, and initiatives like accelerated depreciation, net metering (in select states), and the push for open access solar are all fantastic moves from the Indian Government. Government-backed schemes like PM-KUSUM and rooftop solar subsidies for residential customers have helped create further momentum in the residential space in particular.

What’s working well is the recognition by the Government of solar as a strategic priority, not just for decarbonization but also for energy security. Hence we strongly support the Make in India drive by the Government, and have been making our range of solar panels in-house since 2017.

If we had to point to areas where we would like to see policy improvements, this would have to include for instance: policy inconsistency between states, especially around net metering and open access; the pace of local approvals for grid connection; and DISCOM-related bottlenecks for faster adoption. The potential for solar in India is massive, and with some tweaks to the policy environment, the market can be unlockd to grow even faster.

What do you see as the biggest opportunity and the biggest challenge for the solar energy industry today?

The biggest opportunity is scale. For businesses, especially SMEs in India, solar is a way to lock in lower power costs while also meeting sustainability goals. As energy demand grows—particularly in manufacturing and services—solar can become the backbone of clean industrial growth in the country.

The biggest challenge? Financing and execution at scale. While the technology is mature, many businesses, especially smaller ones, still struggle with upfront capital and managing the logistics of installation. Some solution providers have responded by offering in-house financing and end-to-end support, making it easier and more affordable for companies to adopt solar without relying on traditional banks or external lenders.

If adoption can be simplified and consistent policy support is maintained, the solar sector has the potential to truly transform India’s energy landscape—creating jobs, reducing carbon emissions, and enhancing the country’s energy independence.

EoM.