[100 Emerging Women Leaders] This woman entrepreneur is lighting up homes and businesses with solar solutions
Started in 2014, Freyr Energy is a Hyderabad startup that offers solar solutions to homes and businesses.
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When Radhika Choudary met her husband’s friend Saurabh Marda at a party in 2011, their interaction sparked a shared passion for clean energy.
Marda, an environmental engineer, had always dreamt of starting a business in the clean energy sector. Meanwhile, Choudhary had extensive on-ground experience in the sector.
Three years later, they teamed up to start . Based in Hyderabad, the startup offers solar solutions to homes and businesses.
“We aim to provide seamless rooftop solar solutions to households and companies to meet their electricity needs and empower them with access to clean, affordable, and reliable solar energy,” Choudary tells HerStory.
The journey
Radhika Choudary
Growing up, Choudary recalls that she was good in her studies. After clearing the engineering entrance exam, she had the option to study computer science, however, she felt that the field was not a natural fit.
Instead, she chose to pursue industrial engineering as it resonated more with her interests and abilities.
During her Master's at Purdue University in the US, she worked on a research project on fuel cells powered by solar energy, which sparked her interest in the field of clean energy. At the same time, the renewable energy sector was receiving greater attention amid climate change concerns.
She pursued the field working as a sourcing and engineering intern on wind energy at GE Energy. She further worked in the wind energy industry at places including SKF USA Inc and Lanco Wind Power Pvt Ltd.
In 2008, Lanco Wind Power offered her an opportunity to return from the US and work across south India. Though she shifted back to Hyderabad, the company’s wind energy unit was shut amid the recession, so she moved to the solar segment.
A few years later, she transitioned to a role in Business Development at another solar energy company. She worked there until 2014 when she decided to start her own business.
“My experience in setting up manufacturing capacities and acquiring lands for establishing the systems gave me a deep understanding of the clean energy market in India and abroad. This learning has helped me a lot in my startup,” she adds.
Igniting change
Freyr Energy provides rooftop solar systems for residential and commercial buildings. The company also provides maintenance facilities as required.
The installation depends on the household's energy consumption. Chaudary explains that typically, a house requires between 2-10 kW, but if there are additional features like swimming pools, the demand can increase from 20 kW to 30 kW. The number of panels needed depends on various factors, including the location, energy consumption, amount of sunlight, and more.
Freyr Energy provides rooftop solar systems for residential and commercial buildings
A calculator on the company’s website showcases that a household which gets a monthly electricity bill of Rs 2,500 can install a system of 3 kW and save Rs 30,000 annually. With an installed solar capacity of 60+ MW, Freyr Energy is helping homes and businesses generate more than 9.12 Lakhs units annually.
Choudary acknowledges that setting up the system is one of the major challenges the company faces. “It comes across as a high investment to many households, however, it is a one-time investment which will achieve a breakeven in 3-4 years,” she adds.
However, many prefer not to take this big investment or may not have enough funds available to install solar panels. To help them, Freyr Energy has collaborated with banks and non-banking financial companies to offer zero-cost EMI options to customers.
“We wish to make rooftop solar accessible to everyone with this option,” Chaudary says.
Challenges
Choudary recalls that when she entered the rooftop solar industry, awareness was minimal, making it extremely challenging for companies to convince customers to adopt solar energy. Even banks were uncertain about categorising solar companies as it was a relatively new sector.
However, the times are now different as people have become more conscious of the environment, and there is more awareness about solar energy systems.
The Council on Energy, Environment, and Water (CEEW) reports that over 250 million households in India could potentially install 637 gigawatts (GW) of rooftop solar capacity. By December 2023, 11.08 GW had been installed.
She acknowledges that during her investor meetings, there was often an expectation that technical or financial matters would be handled by men, but in her company's case, it was her leading those discussions.
“I believe that when you possess the right knowledge and expertise, gender should not influence how others perceive your capabilities,” she adds.
She suggests that women entrepreneurs should learn about all aspects of business which can help them in running a company effectively.
In the same vein, she encourages other women entrepreneurs to never shy away from challenges.
"You can have reasons or results, but you cannot have both," she says.
Edited by Kanishk Singh