Did you know India became the 5th country to acquire the global position of deploying solar power? In this growing and competitive market, a company like Loom Solar has strengthened its roots strongly and is counted among one of the most successful start-up stories . Founded by two brothers, Amod and Amol Anand, Loom Solar has become one of the leading solar panel companies in today’s time. 

The focus of Loom Solar lies in installing as many solar panels as possible in Indian homes to make electricity accessible 24/7 to the people. The solar panels are installed on the roofs of the homes which generate electricity using the sunlight without being dependent on any form of energy.

Forming a bootstrap company from the scratch requires a lot of patience and hard work. Amod and Amol were looking for such an opportunity that could create a difference. Amol and Amod, of them, are  MBA graduates from IMT Ghaziabad and have experience working in a multinational company. While Amol worked in Real Estate, Home Electrical, and Telecom companies, Amod worked mostly in E-commerce and Telecom companies.  Thus, Amod’s experience in such companies made him capable of handling the sales and marketing division and Amol of Finance and operations at their own company, Loom Solar. 

The idea to build a start-up company, Loom Solar came to Amol while he sensed the perks of solar energy over other forms of energy and the market opportunity for the same.  Detailed research on the possibility of scaling this business and current government policies around solar panels made this brother duo jump into the opportunity without any delay.  

What are the problems the Solar industry of India faces today?

Solar Industry invites multiple problems which make their ecosystem's growth slow. Lack of awareness and skilled labor are two such problems. People are not aware of the usage and benefits of installing solar panels on their rooftops. Further, it becomes difficult to maintain the cleaning costs. Dust and hard water become an obstacle in the path of maintaining efficiency. India, in the end, also has very few companies that focus on the efficiency of solar panels after solving these problems. 

How is Loom Solar providing solar solutions to Indians?

While the present market is entirely captured by Polycrystalline and Super High-efficiency panels, Loom Solar introduced the panels which generate power under low sunlight and in cloudy weather too. Loom Solar’s solar panel produces approximately 20% more power than the panels sold in the present market. 

However, Loom Solar doesn’t only aim to provide Indians with affordable and efficient solar panels for electricity, the company aims to start the production of inverters and lithium-ion batteries for power generation and storage in the near future. 

What were the challenges Loom Solar faced?

It is a well-known fact that India has customers for every product and service that companies across different industries offer. However, the companies that successfully capture the maximum attention mostly have a very strong pricing system. Similarly, Loom Solar invested the majority of its time to figure out the right and reasonable price for Indian customers, but the confusion of charging a higher or lower price than the competitors took time. 

In the end, Loom Solar came up with the right pricing for solar panels which also provided higher efficiency than the products which were available in the market. 

What influence did the competitors have on Loom Solar?

Loom Solar differentiates itself from the market competitors on many stages. Even though the company has just three competitors (Luminous Power Technologies, Waaree, and Tata Power Solar), the market for solar panels gets divided. These companies offer a wide range of products. For instance, home electrical products, power backup, inverter batteries, LED lighting, rooftop solutions, solar water pumps, etc. 

Business Model of Loom Solar

The business model plays a significant role for a startup company like Loom Solar. Loom solar operates straight through offline and online channels making each and every sale direct. Further, Loom Solar, successfully, has generated a revenue of 50 crores in the financial year 2022. 

Process of installing solar panels

The process of installing a solar panel on the rooftop has been made very easy by Loom Solar. You can just book an engineer visit from the website and finalize the system. Further, we also provide the facility of the loan if you require it. In the end, we install the most efficient solar panels on your rooftop. 

Awards and Recognition received by Loom Solar 

Loom Solar has been receiving multiple awards and recognition being one of the top Indian startups. Some of them are Golden Bridge Awards, 2019, Amazon Sambhav, 2020, Start-up of the year, 2021, Energy Business of the year, 2021, etc. 

The company recorded a 379.52% annual growth rate was recorded by the company. The main focus of the company is to satisfy the customers with the product. This has helped Loom Solar to serve more than 50, 000 new customers. 

Therefore, Loom Solar, being one of the most successful startups in India, aims to become the most trusted & talked about brand in this industry by the financial year 2025. The company has a longer vision to serve the country and help it become solar-sufficient in the near future.   

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