MYSUN is a rooftop and off-grid solar company which uses engineering, data and analytics to deliver the most suitable and customized solar solutions to residential, commercial and industrial energy consumers. . Founded in September 2015 by solar industry professionals Gagan Vermani, Divyanshu Sachdev and Gyan Prakash Tiwari, MYSUN announced commencement of operations (beta) in September 2016. It aims to transform the way solar energy is perceived, bought and sold today.
USPMYSUN’s unique online platform houses advanced yet easy to use tools that allow consumers to understand and evaluate their solarisation potential and associated savings. It creates a convenient and guided buying environment for consumers by providing competitive pricing, rated vendors, quality standards, advanced engineering tools and financing options, all at one place.
Industry OpportunityThe cost of solar in India has reached historic lows today, becoming much lower than the cost of utility power for a lot of energy consumers. The government too is providing a lot of policy support and has earmarked 40% of the overall 100GW solar target to be achieved from rooftop. However, in spite of solar becoming a compelling proposition for most consumers, demand growth in the non-utility segment has been slow. MYSUN has identified lack of awareness amongst consumers and a complicated and long drawn out buying process to be the main constraints to an exponential growth.
With a view to solve the challenges, MYSUN makes it easy for consumers to understand and adopt solar with the help of high-end engineering, data, financial products and an online marketplace that connects them to highly-rated pre-screened solar installers to deliver a high quality and best-priced solar system. These pre-screened sellers adhere to strict quality standards prescribed by MYSUN. Moreover, the benefits for consumers don’t stop there as MYSUN stays with the consumers even after the solar systems have been installed and supports them throughout their solar journey. MYSUN aims to solarize 10 million rooftops in India by 2022. MYSUN has also launched the MYSUN Assured Service in Delhi NCR where MYSUN, through a select list of their preferred partners, will undertake the complete design, installation and O&M services for solar PV systems.
Funding On the basis of their vision, innovative model and team strength, the company raised their $2.5 million in their seed round, owing to which Mr. Hemant Taneja, Managing Partner at General Catalyst Partners, one of the top 100 venture capitalists in the world, has joined the company’s board. MYSUN plans to utilize Hemant’s deep experience and leadership to achieve their mission to solarize India.
Traction DetailsPost its launch 150 days ago, the company is already seeing a lot of traction with more than 60,000 unique visitors to its platform every month. It already has more than 6000 rooftops registered on its platform as well as 200 installers and developers in addition to more than hundred other stakeholders including banks, financial institutions, architects, etc.. A number of solar systems are already under installation through its platform.
Marketing PlansThe company has set itself the goal of increasing the awareness and changing the perception about solar through a lot of innovative online and offline marketing campaigns. They launched their 20-city #CaptureMySun campaign where they are challenging photographers, both professionals and amateurs to capture the sun and everything under the sun in their cameras like the solar industry is capturing the energy of the sun. They have already conducted photo-walks in Mumbai, Bengaluru, Hyderabad and Ahmedabad and are next looking to bring the campaign to Delhi NCR and Jaipur. The campaign has already created more than 5 million impressions online and is seeing active participation.
Going forward, the company plans to continue their efforts towards reaching a larger audience and increasing consumer awareness about solar. While their standard services are available pan-India, they plan to expand their MYSUN Assured Services to all major metros over the next few months, with a target to reach out to all major metro and Tier 1 cities over the course of the next year.
