Today, most companies offer two types of solar panels – polycrystalline panels and super high-efficiency panels. Polycrystalline panels are traditional panels that offer lower efficiency and are typically bigger in size. Super high-efficiency panels, on the other hand, are the latest solar panels that offer higher efficiency and are compact in size.
The best part about super high-efficiency panels is that it generates power even in cloudy weather, under low sunlight, and the efficiency of power generation is more than 20 percent from old technology. Yet, surprisingly, not many companies are into this.
Even to this day, globally, polycrystalline technology is widely used – about 98 percent – and only 2 percent of brands use monocrystalline panels. In India, 95 percent of installation is done using polycrystalline panels.
Loom Solar is one of the pioneers in space that introduced super high-efficiency solar panel technologies to the Indian market. It was the first company that introduced 340 W monocrystalline panels in the Indian market, while all major players launched mono panel modules. Last year, the company launched new technology based on the highly efficient shark module 430 W.
Due to advanced product features, design, capacity and high efficiency, this product is not available in the Indian market. Loom Solar is probably the only player in the market working in a hybrid model – across channels, including channel sales, online platforms like Amazon, Flipkart, LoomSolar website (direct-to-consumer D2C) and government e-marketplace (GeM) Portal. It believes that it offers solutions to customers instead of product components.
Based in Faridabad, Haryana, Loom Solar was founded by the Anand brothers – Amod Anand and Amol Anand in 2018. Before this, the duo was mostly busy in their corporate life. Amol handled operations at Luminous India. Amod, on the other hand, started his career with Reliance as a business analyst and later worked at Bharti Airtel and Home Shop 18 in senior leadership roles. However, with time, the entrepreneurial spirit in them kept surfacing until they both decided to finally start working on it alongside their corporate jobs.
"It was difficult to find how to start and from where to start, which product to sell and how to earn profit. Once we were sure of the business we wanted to create a fortune in, we were a bit relieved. We knew it was solar energy, and LOOM SOLAR was born," said Amod, recalling the early days of starting the company.
"To begin with, we started as distributors for companies that were into solar energy like Luminous India. We created a market for ourselves, gaining the trust of the customers as that has been the key focus for us from the very beginning," said Amol, sharing the journey of the company.
In October 2018, Loom Solar launched monocrystalline panels. "This was a big boom for us," exclaimed Amol. Then, in December 2019, the company launched the AC Module. "Now, our focus grew into making quality, timely deliveries and of course manufacturing premium quality solar panels with no compromise on quality whatsoever," he added.
Anand Brothers – Loom SolarAmod and Amol are directors and co-founders of Loom Solar. The company is present in 500 districts across India, having 3500 resellers, 100 employees. It has two offices and one manufacturing unit.
Amod AnandAmod co-founded Loom Solar alongside his brother Amol with a mission to create an enterprise that embodies progressive thinking and innovation. Even before the inception of Loom Solar in 2018, he had a proven track record in marketing, business analysis, and digital prowess. In fact, Amod has already instilled practices that are helping the organisation to create new benchmarks.
Also, he has an MBA in marketing from IMT, Ghaziabad, India. Amod is meticulously building synergies in the extensive growth of Loom Solar in India and exporting from India. Before setting up Loom Solar, he worked with Reliance, Airtel, and HomeShop 18.
Amol AnandAmol has an unfettered mindset that continues to challenge the status quo. His inquisitive and 'Let's make it Happen' nature keeps the motivation alive. Before starting Loom Solar, Amol worked with Reliance, MTS, BPTP, and Luminous.
The team believes that Loom Solar is a technology geek company where they continuously work on bringing the latest technologies to improve efficiency.
For instance, Loom Solar has many technological firsts – highest efficiency solar panels that have been introduced in the Indian market by them include the latest Shark series bifacial 400 W to 530 W that helps in producing electricity both from front and back.
Secondly, they have been diligently working to make solar reach every home not only physically, but also digitally. Loom Solar took the brick and mortar business to digital – started with a purely digital marketplace to get the information & product to reach the end consumer at a click of a button.
Towards Sustainability & Self-Sufficiency
Loom Solar has installed over 50,000 residential rooftops (approximately 20 MW) and mitigated carbon emission to 56,580 tonnes, which is equivalent to installing 90,520 trees in a lifetime. "We are seeing a very huge opportunity as the industry is new, and we find ourselves perfectly fit in the rooftop solar industry to lead the market. We are looking forward to making each home energy efficient by providing a high-efficiency product and delightful customer experience," said Amod.
Loom Solar believes that in the early stage of the business, you have to build trust with customers, suppliers, employees, and shareholders. "Once you build trust, business starts growing, and the rest of things can be managed," said Amol.
Further, he said that Loom Solar has never sold the products on credit and is not even planning to do that in future. "In order to sustain ourselves, we should always sell products with profit," said Amod, stating the valuation of the company, which stands about INR 100 Cr.