In the next three years, Luminous Power Technologies anticipates its solar sector to account for 40% of overall revenues. Solar solutions presently account for roughly 20% of the company’s entire revenue.
The company, which is the Indian subsidiary of French multinational Schneider Electric, offers a wide range of products in the power backup, home electrical, and residential solar markets, including inverters, batteries, and solar solutions, as well as home electrical products like fans and LED lighting.
Residential solar has been rising at roughly 15-20% year-over-year for the previous two to three years, according to Vipul Sabharwal, Managing Director, Luminous Power Technologies.
