(ET)
Solar energy is displacing fossil fuels across the globe. But in India, it is helping boost sales of diesel and petrol at filling stations. As petrol pumps start using solar energy, many of them, especially in the hinterland with ample sunlight, are reclaiming as much as 10 per cent of sales earlier lost due to inadequate and erratic grid power supply. Some of the newer pumps have opted for solar only to avoid the higher cost of grid power.
“Solar is not just about being environment-friendly. It is paying off financially as it helps raise sales as well as bring down the operating cost for petrol pumps,” said AK Sharma, director (finance) at Indian Oil Corp, the nation’s largest fossil fuel retailer, which has about a quarter of its 26,500 pumps using solar energy. Hindustan Petroleum and Bharat Petroleum have about 9 per cent and 7.5 per cent of their pumps using solar energy, respectively.
