PDF: 2962 pages, 5.2 MB - Bay Area Council Economic Institute

Energy/Environment/Clean Technology
In India, SELF created a stand-alone company in 1995, the Solar Electric Light Co. (SELCO), to
market Tata-BP solar modules and batteries in a kit that also includes SELCO’s own brand of
fluorescent lights, switches, and outlets. Each solar home system (SHS) provides from 22–50
watts of power, enough to run six compact fluorescent lights, a radio, a portable television, and a
small fan for several hours each day, either as a substitute or a backup for grid power. Working
initially with Syndicate Bank, and now with other rural banks, SELCO arranges microloans to
stretch the $500 SHS cost into a 10% down payment and monthly or bimonthly payments of
$10–20. SELCO has also accessed financing through the Indian Renewal Energy Development
Agency (IREDA)’s PV Lending Program, a partnership with the World Bank.
To date, SELCO has installed more than 75,000 systems in Karnataka, Andhra Pradesh and
Gujarat, delivering independent electricity to some 300,000 people. (Those figures include an
SHS installation at the Gaden Jangtse Buddhist monastery in Karnataka, which houses 3,000
Tibetan refugee monks. The monastery’s system was donated by Steven and Mary Swig and
replaces kerosene lamps in the prayer hall and the Dalai Lama’s private quarters).
With a workforce of 180 and a network of 25 energy service centers, SELCO has achieved profitability
on $3 million in annual sales. Solar units have begun to displace dirtier backup diesel generator
and inverter technologies where grid power is unreliable, and more reliable power has enabled
the growth of more small (often home-based) businesses in addition to improving access to
education and the outside world for remote rural villagers.
The 3-Lakh Electric Car
Clean technology investment in India has captured the imagination of
venture and private equity firms worldwide. An estimated $430 million
was invested in 2006–07 alone. But the Reva electric car predates
the current cleantech trends in its California-India connections.
The Reva is a two-passenger electric city car, with a top speed of
40 miles per hour and a range of about 50 miles per charge. (A new
model introduced in 2007 pushes 50 mph, has 40% more torque
and regenerative braking, and accelerates from zero to 25 mph in
7 seconds). At 2.99–3.78 lakh (about $6,000–$7,500) depending on
the model, it is the least expensive vehicle in its class in the world
and the only Indian car certified to be sold in the EU. With 800 cars
on the road in London—where it is called the G-Wiz—the Reva is
the UK’s best-selling electric car. It is also being test-marketed in
Italy, Malta, Sri Lanka, Cyprus, Greece, Japan, the U.S., Norway,
and Spain. Since 2001, some 3,000 units have been sold worldwide.
The Reva Electric Car Company (RECC) is a partnership conceived
in 1994 and formalized in 1998 between Bangalore auto-
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