S.I.P.

ASSIGNMENT
PEACOCK SOLAR

SUBMITTED BY: SINJINI PATRA

SEC: A
ROLL: 50
PGDM 2019_2021
SUBMITTED TO: PROF. INDRANEEL MANDAL
 ACKNOWLEDGEMENT

I would like to express my thanks to the people who have helped me most
throughout my project. I am grateful to my teacher DR. INDRANEEL MANDAL
for nonstop support for the project.

A special thank of mine goes to my colleague who helped me out in completing

the project, where they all exchanged their own interesting ideas, thoughts and
made this possible to complete my project with all accurate information. I wish
to thank my parents for their personal support or attention who inspired me to go
my own way.

At last but not the least I want to thank my friends who treasured me for my hard
work and encouraged me and finally to God who made all the things possible for
me till the end.
 CERTIFICATE

This is to certify that Sinjini Patra a student of Post Graduation

Diploma In Management, Batch (2019- 21) of INSTITUTE OF
TECHNOLOGY AND SCIENCE, Roll No -2019151 has under taken
the internship assignment on “company analysis”.
This project is prepared by the partial fulfillment for POST
GRADUATE DIPLOMA IN MANAGEMENT”.

DATE……………..

FACULTY MENTOR’S NAME

Prof. Indraneel Mandal

(Signature)
 CANDIDATE DECLARATION

This is to declare that I Sinjini Patra student of Institute of

Technology & Science, Ghaziabad, PGDM batch 2019-21, has given
original data and information is the best of any knowledge in the
assignment on Company Analysis is a record of independent work
carried out by me under the guidance and supervision of
Prof. Indraneel Mandal towards the partial fulfillment of requirement
for the PGDM course.

DATE.........................
Sinjini Patra
PGDM (2019-21)
 ABOUT THE INDUSTRY

Solar energy has been used for millions of years before the invention of solar panels. Many
forms of life use sunlight to survive and thrive. The forms of life that use sunlight include
humans for warmth and recently started using the energy of the sun to produce electricity that is
renewable and sustainable. Using solar panels, solar energy is converted into electrical energy
that can power an entire building. The power production from three different solar panel
mountings, fixed, tracking, and adjustable, will depend on several identified factors, namely:
cloud cover, sun intensity, relative humidity, and heat buildup.
Solar power in India is a fast developing industry. The country's solar installed capacity
reached 37.627 GW as of 31 March 2020.India has the lowest capital cost per MW globally to
install solar power plants.
The Indian government had an initial target of 20 GW capacity for 2022, which was achieved
four years ahead of schedule. In 2015 the target was raised to 100 GW of solar capacity
(including 40 GW from rooftop solar) by 2022, targeting an investment of US$100 billion. India
has established nearly 42 solar parks to make land available to the promoters of solar plants. In a
decade ending on 31 March 2020, India expanded its installed solar power capacity by 233 times
from 161 MW to 37,627 MW.
Rooftop solar power accounts for 2.1 GW, of which 70% is industrial or commercial. In addition
to its large-scale grid-connected solar photovoltaic (PV) initiative, India is developing off-grid
solar power for local energy needs. Solar products have increasingly helped to meet rural needs;
by the end of 2015 just under one million solar lanterns were sold in the country, reducing the
need for kerosene. That year, 118,700 solar home lighting systems were installed and 46,655
solar street lighting installations were provided under a national program; just over 1.4
million solar cookers were distributed in India.
The International Solar Alliance (ISA), proposed by India as a founder member, is headquartered
in India.
 ABOUT THE COMPANY

PEACOCK SOLAR

 Peacock Solar specializes in solar energy services. They provide a hassle-free solar panel
installation. In the 21stcentury where Conventional source of energy generates 800 metric
tons of Carbon dioxide resulting in 1.2 million deaths annually.
 As electricity demand escalated, with supply depending largely on fossil fuels.concerns arose
about carbon dioxide emissions contributing to possible global warming. Attention turned to
the huge sources of energy surging around us in nature, sun in particular.
 Peacock solar aims to be the energy partner for 200 million households by leveraging data
Analytics and innovative finance to provide access to solar energy in and contribute to
stabilizing our ecology. Peacock solar has built its operations and marketing in a scalable
manner.
 They promote the most important aspects that will shape India’s future. Peacock Solar is
active in serving the Nation for the last 10 years. They believe in harnessing the pristine
power of nature and providing a sustainable and easy lifestyle for years to come. The
skyrocketing price of electricity makes solar panels the need of the hour. An array of solar
cells in the solar panel absorbs sunlight to generate electricity by the photovoltaic effect.
 They have an end to end solution for solar panel installation. Their idea was selected by
Climate Finance Lab as one of the top 9 global ideas for sustainable development in 2018
cycles.
 They also received grand finance from UNICEF worth $ 85,000 to build our go-to-market
and scaling strategy for scaling solar. Their business model has the potential to generate 50
GW and save 25 million metric tons of CO2.
Industries Clean Energy, Renewable Energy, Solar
Headquarters: Gurgaon, Haryana.
Founded Date: Jan 1, 2017
Founder: Aniket Baheti
Operating Status: Active
Number of Employees: 1-10
Website: www.peacock.solar
Contact Email: Aniket@peacock.solar
Phone Number: +91 97056 55855

 Mission: Our mission is to channel this energy to power every roof, every home, every
building, every village and every city of our country.
 Vision: solar for every home, building and rooftop.
 Advantages:


SIMPLIFYING
SOLAR
 

EASY
BUYING
 

FINANCING
OPTIONS
 

PREMIUM
QUALITY
 CUSTOMERS OF PEACOCK SOLAR

The potential customers of solar energy installation fall into these categories:

 Residential clusters or the “colonies” in India. There is a strong sense of community

among the colonies of urban and suburban.
 Business office complexes – companies such as IBM, EMC, INTEL etc have built
immense office complexes in the last 5-8 yrs that house.
 Thousands of employees and huge arrays of power hungry computer equipment.
 Individual residences are good significant number of private citizens who are in a
position to afford solar power installation.

Why would anyone not buy solar panel?

 High financing cost
 Perceived to be too intermittent
 No brand name

Who? Where are they? How many? Motivation


Millions of domesitc roofs and developers /
House Owners
architects of new buildings.
Reduce electricity costs
Contribute to carbon emission reduction
Take advantage of other incentives
Increase value of property

Reduce electricity costs

Many councils who own buildings with large Comply with carbon emission targets
Councils
roofs - schools, admin buildings etc.

Reduce electricity costs

Display corporate social responsibility
Corporations Many companies with large roofs Gain emission credits

Spread energy mix

Electricity Comply with regulation
Big companies, often globally operating.
Companies

Use solar powered lights or charges instead of oil

lamps (especially in developing countries or remote areas)
Consumer   Use solar powered products for novelty value.

COMPETITOR OF PEACOCK SOLAR

 vs

PEACOCK SOLAR specializes in solar energy services. They provide a hassle-free solar panel
installation. In the 21stcentury where Conventional source of energy generates 800 metric tons of
Carbon dioxide resulting in 1.2 million deaths annually.

PEACOCK SOLAR manufactures, distributes, and installs rooftop solar panels for residential,
commercial,andindustrialsectors.

PEACOCK SOLAR’s Total revenue per year 25 cr

Total funding when peacock solar starts that is 50 lacs

MYSUN is the competitor of Peacock solar. MYSUN is India’s largest online rooftop solar
company with operations in multiple states in North, Central and Western India. The company
provides most advanced technology and highest quality solar services in Delhi, Ghaziabad,
Gurgaon, and Noida among others across residential, industrial and commercial categories.
Positioned as a Solar company in India, MYSUN has strong Solar rooftop services in Delhi
NCR. All the MYSUN solar rooftop systems come with a 25-years solar service promise

MYSUN generates $111.1K in revenue per employee. MYSUN has raised a total of $7M in
funding. PEACOCK SOLAR's top competitor is MYSUN, led by Gagan Vermani, who is their
CEO.
 OPEX Vs CAPEX
Switching to solar power is a commendable move for your business, and a cost-effective one too
in the long run. However, there are a lot of underlying technicalities you need to know before
making the final move to go green.

When you are considering buying solar power, you would generally find two options in the
market – Investing into a rooftop solar plant or buying solar power under a power purchase
agreement (PPA). Both the options can be availed under two models: the capital expenditure
(CAPEX) model or the operating expenditure (OPEX) model. In this section, we help you make
an informed decision by highlighting the differences between the two in terms of their merits and
disadvantages, and which model suits your business better.

CAPEX MODEL: Here, the entire system is owned by the rooftop owners and he bears the cost
of the Solar system. Responsibility of O&M for the system lifetime (25 years) is also with the
rooftop owner. Developer is responsible for installing the system and initial 3 years O&M and
five years warranty.

OPEX MODEL: Here, the entire system is owned by the developer. Responsibility of O&M for
the system lifetime (say about 25 years) is also with the developer. Rooftop owners may
consume the electricity generated, for which they have to pay a pre-decided tariff on a monthly
basis. Excess generation may be exported to the grid, subject to availability of requisite state
regulations.

Which model is best?

For consumers that have adequate manpower/expertise for O&M, rooftop access concerns,
availability of funds upfront, CAPEX model is better. Consumers in states that have net metering
regulations can take benefit of the same in case they have substantial excess generation. On the
other hand, consumers who prefer not to take responsibility for the system O&M, do not have
rooftop security concerns and prefer to pay on a monthly basis rather than bulk upfront payment
may choose to go for RESCO or OPEX model.
OPEX VS CAPEX

1. PEACOCK SOLAR owns the asset (OPEX)

OWNERSHIP

Customer owns the asset (CAPEX)

2. Zero upfront investment by the customer. Can instead invest that capital into its core
business. (OPEX)

INVESTMENT

100% investment borne by customer (CAPEX)

3. Quickly replicable and scalable because additional projects don’t need internal CAPEX
approvals (OPEX)

MANAGEMENT APPROVAL TIMELINES

Typically requires long lead time for CAPEX approvals at senior management level. (CAPEX)
 4. Pay only for electricity generated, no hidden costs(OPEX)

WHAT YOU PAY FOR

Pay only for O&M charges after system purchase, no tariff for solar electricity generated
(CAPEX)

5. 20-40% cheaper than Grid electricity Tariff (OPEX)

PER UNIT SAVING

Capital repaid through generated electricity (CAPEX)

6. Turnkey solution, therefore PEACOCK SOLAR bears O&M cost (OPEX)

O&M

Customer pays separately for O&M (CAPEX)

 7. Savings from day 1 (Zero days) (OPEX)

PAYBACK

As high as 4 years (CAPEX)

8. PEACOCK SOLAR handles all technical matters (OPEX)

TECHNICAL KNOW HOW

Dedicated team needed at customer’s end to evaluate system design, installation and operation
(CAPEX)

9. PEACOCK SOLAR bears all the performance risk and is incentivized to maximized
generation because revenues are linked entirely to generation (OPEX)

PERFORMANCE RISK

Customer bears all the performance risk and must manage equipment & downtime losses
(CAPEX)
 10. No Tax benefits for customer (OPEX)

TAX BENEFITS

Customer can claim tax benefit through accelerated depreciation (CAPEX)

11. PEACOCK SOLAR prerogative (OPEX)

REGULATORY RISK AND APPROVALS

Owners prerogative (CAPEX)

Type of Solar Panel using peacock solar

They are using two type of solar panel. These are on-grid solar panel and off grid solar panel.

On-grid means your solar system is tied to your local utility’s GRID. This is what most
residential homes will use because you are covered if your solar system under or over-produces
in regard to your varying energy needs. All this means for you is that your utility system acts as
your battery space. If you are producing more energy with your solar panels or system than you
are using, the excess energy is sent to your grid’s power company, allowing you to build credit
that you can cash out with at the end of the year, in a process called net metering. Being grid-tied
is beneficial because you don’t have to buy an expensive battery back-up system to store any
excess energy.

Being off-grid means you are not connected in any way to your grid’s power system or utility
company. This is appealing because you are 100% self-sustaining your energy use. However,
there are disadvantages because off-grid systems require you to purchase back-up battery which
can be expensive, bulky, and not very environmentally friendly which defeats the purpose of
going solar.
The cost of maintenance depends on two factors:

• Firstly, which type of solar panels you are using. If you are using on-grid solar then cost of
maintenance is very low it will be around 55,000- 80,000 per kWp, depends on the quality of
solar panels. But if you are using off-grid solar panel then the cost of maintenance is very high
because the battery connected at the time of installation must be changed in 5-7 years for better
performance of solar panels, so it will cost around 1 lakh or more than it, it depends on which
type of battery you have selected.

• Secondly, the cost of maintenance has a direct relation with the number of solar panels you are
using, if the solar panels more than, the maintenance cost also increase. Similarly, if the solar
panels are less than, the maintenance cost decreases.

FACTORS AFFECTING PEACOCK SOLAR AT MICRO LEVEL AND

MACRO LEVEL

 MICRO LEVEL

There is no such thing as a perfect technology. Research reveals the different factors that can
affect the efficiency of solar panel mounting systems. Some of these factors have been studied to
either increase or decrease the power production from the three types of mountings such as sun
intensity, cloud cover, relative humidity, and heat buildup. When the sun is in its peak (intense),
during midday, the most solar energy is collected; therefore, there is an increase in the power
output. Cloudy days contribute to the decrease in sunlight collection effectiveness since clouds
reflect some of the sun’s rays and limit the amount of sun absorption by the panels. During
summer days when the temperature is at its highest and heat is built up quickly, the solar power
output is reduced by 10% to 25% for the reason that too much heat increases the conductivity of
semiconductor making the charges balance and reducing the magnitude of the electric field. In
addition, if humidity penetrates into the solar panel frame, this can reduce the panel’s
performance producing less amount of power and worse can permanently deteriorate the
performance of the modules.

 MACRO LEVEL

1. MAN POWER:

Man power is also an important factor here because to be in this sector people have to be skilled
and skilled labor is required. As due the lack of skilled labor there is cost involved in this factor
as well. So they need to improvise on this factor and its importance isa major one for this
company.
The biggest challenge facing the sector is shortage of qualified and trained manpower. We
require manpower to make installation and maintenance but there are hardly any trained people.
More manpower is required for making small kilowatt scale rooftop installation than megawatt
scale projects.

Dr R. Velraj, director of the institute of energy studies, Anna University, said the solar sector
cannot grow without adequate manpower.

A senior Teda official said manpower requirement for setting up solar plant, utility or rooftop is
largely a combination of fabrication, electrical and masonry skills.

2. COST:

There are certain cost driven factors that affect the company. As we know that the making of
solar panels includes cost so the economic condition round the world affects the cost of the
elements that are used to make the panels. They are being imported from outside so the cost is an
important factor here.

Cost can also affect according to the customers view. The buying capacity also will affect the
company because of the economy of the country. So its sale will get affected.

Cost also have positive impacts as well. As solar energy may reduce overall cost of energy
consumption there by helping people at commercial and residential level to reduce there cost for
a longer period of time.

As we know that solar energy are meant to save cost and energy both as well as to save the
environment from pollution.

3. PEST analysis is an auxiliary method to clarify some organization’s or

phenomenon’s political, economical, socio cultural and technological status and
future. It can help to understand the main points and it gives the answer of the
challenges that might be faced with the project. It is possible to clarify the
different issues for example:

Political factor-

 Political stability and importance of Financial Services sector in the country's economy.
 Level of corruption - especially levels of regulation in Financials sector.
 Bureaucracy and interference in Financial Services industry by government.
 Legal framework for contract enforcement
 Intellectual property protection
 Trade regulations & tariffs related to Financials
  Favored trading partners
 Anti-trust laws related to Financial Services
 Pricing regulations – Are there any pricing regulatory mechanism for Financials
 Taxation - tax rates and incentives
 Wage legislation - minimum wage and overtime
 Work week regulations in Financial Services
 Mandatory employee benefits
 Industrial safety regulations in the Financial sector.
 Product labeling and other requirements in Financial Services

Economic factor-

 Government intervention in the free market and related Financials

 Exchange rates & stability of host country currency.
 Management Group Plc needs to raise capital in local market?
 Infrastructure quality in Financial Services industry
 Comparative advantages of host country and Financials sector in the particular country.
 Skill level of workforce in Financial Services industry.
 Education level in the economy
 Labor costs and productivity in the economy
 Business cycle stage (e.g. prosperity, recession, recovery)
 Economic growth rate
 Discretionary income
 Unemployment rate
 Inflation rate
 Interest rates

Legal factors-

 Anti-trust law in Financial Services industry and overall in the country.

 Discrimination law
 Copyright patents / Intellectual property law
 Consumer protection and e-commerce
 Employment law
 Health and safety law
 Data Protection
 TALENT POOL OF PEACOCK SOLAR

What is a Talent Pool?

A talent pool is a database of candidates profiles interested in working for your company.

It is a group of suitable candidates who have expressed interest in you as their employer.

Benefits of building Talent Pools

Building talent pools helps you stay ahead of your company’s talent needs.

Instead of waiting until you have open job positions, you can recruit “in advance”, for the future
hiring needs of your company.
That way, at the moment you have to fill certain positions, you already have a reserve of high-
quality candidates to choose from.
Imagine if every time you had a job opening, you had a pool of talent from which you can
just pick the best one! Sounds great, right?
It means you could fill your open positions much easier and faster with better candidates and no
money spent on advertising.
In other words, talent pools have 3 main benefits:

1. Reduced cost-per-hire.
2. Reduced time-to-hire.
3. Improved quality-of-hire.

How to peacock solar build a Talent Pool?

Step 1: Define “talent pool worthy” candidates

The first thing, they have define their “talent pool worthy” candidate.

The definition of “talent pool worthy” candidate will vary among different companies and their
future hiring needs.

This is why they need to define what exactly a “high quality” candidates means for their business
and their company, not only right now but also in future.

Step 2: Fill your talent pool

There are some most effective ways of filling their talent pool with “talent pools worthy”
candidates:
1. Sourcing tools 
Sourcing tools are a great way to find and get in touch with high-quality candidates.
Sourcing tools are especially important because with them they can reach passive candidates, the
ones that are not actively looking for a job but would be willing to accept a better offer.
2. Referrals 
Employee referrals are another great way for building talent pools.
According to LinkedIn research, companies can expand their talent pool by 10 times when
recruiting through their employees’ networks.
Besides, referred candidates are known to be the best employees that stay longest with
companies.
They also take shortest to hire and onboard and are less expensive to hire.
3. Social media campaigns 
Social media is a great way to reach their potential candidates and invite them to join your talent
pool.
4. Inbound recruiting 
Inbound Recruiting is attracting candidates to willingly join their talent pool because of
the awesome content they are providing.
5. Landing pages on your career site 
The simplest way to grow your talent pool is to create a special landing page on your career site
that will serve as an invitation for joining their talent pool.
The process of filling an application form for joining their talent pool is simple and short.

How they manage their Talent Pool?

Step #1: Segment
They will divide the candidates from their talent pool into different groups.

The criteria for segmentation of the talent pool should be set in accordance with their
unique hiring needs and talent acquisition strategies.
Their goal is to offer the most personalized experience for each candidate as possible.
Step #2: Manage expectations
 Be clear with our candidates about what they can gain by joining our talent pool.
 Explain how and when they will communicate with them and in which cases we will
contact them.

 Also, they make sure candidates know exactly what information they need to provide in
order to join their talent pool.

Step #3: Engage and communicate

Regular communication is the key to maintain a well-structured talent pool.

  In order to keep their candidates engaged, they have to ensure regular
communication with highly relevant and useful information and content.
 Their content should be a mix of blog posts, videos and photos.
 Peacock solar’s employees write about the exciting projects they are working on, or share
their experience of working at our company.
 Peacock solar provide a glimpse into their company culture by sharing photos of their
office and company events.

 They don’t forget to highlight our new job openings!

Step #4: Update

They make sure that they keep their talent pool database up-to-date. 

In order to do that, they should regularly check in with your candidates to see if any of their
information changed.

Step #5: Measure

In order to identify the best strategies for building and maintaining your talent pool, you
needto track an measure every step of your process. It is the only way to get valuable
insights and improve their talent building strategies.

They don’t forget to ask their candidates for a feedback.

The easiest way to do it is to conduct a candidate engagement survey and candidate experience
survey. 

SUPPLY AND DISTRIBUTION OF PEACOCK SOLAR

Not only Peacock solar, all Indian solar industry is facing disruptions in the procurement of raw
material and components for solar installations. The industry is heavily reliant on China for its
sourcing requirement and is expected to face challenges in procurement of module glasses and
wafers required for the system.

Modules account for approximately 60% of a solar project’s cost and Chinese companies supply
approximately 80% of solar cells and modules. Chinese vendors have informed Indian
developers about delays in production, quality checks and component transportation due to the
outbreak. China has imposed work restrictions in eight affected provinces, most of which are the
hub of solar module manufacturers.

As a result, Indian developers have started facing a shortfall of raw materials required for solar
panels and cells and limited stocks. It is expected that Covid-19 is going to affect the
installations in the first half of the year and will likely to start showing signs of recovery only by
the end of the third quarter.
According to the Confederation of Indian Industry (CII), the sector is expected to see a rise in
the component prices due to the decrease in production and constraints that the supply chain and
logistics are facing in procuring it from China, which has stopped production due to the Covid-
19 pandemic. The virus outbreak has also created other issues for the Indian solar industry as
ship container companies stopped picking up load from China ports and transporting it to
different countries, including India.

CII has shown concerns for the completion of solar projects scheduled in the next two quarters
and has decided to revisit import strategies for solar module sourcing.

CII has also recommended removing the higher customs duties imposed on certain products that
are primarily sourced from China but may need to be sourced from other countries now and the
government may reconsider the recent imposition of higher duties.

In response to industry concerns, India’s finance ministry in February indicated that businesses
with supply chains disrupted by the coronavirus in China could declare force majeure, using the
‘Act of God’ clause that frees them from contractual obligations due to unforeseeable events.
Monetary penalties are imposed for a three-month delay in commissioning of a project, while
projects delayed further also face downward revisions in tariffs.

Tariffs at which a company will sell the power to customers are quoted when the developer bids
for a project and, at the current scenario of delayed procurement, the developers are expecting
the government to extend the deadline without renegotiating the tariff.

Most solar companies involved with government energy projects now have the possibility to
invoke cause if they were unable to meet deadlines. SB Energy, Aditya Birla Renewables and
ReNew Power are some companies that plan to invoke the clause in case of delay. A deadline to
meet schedule on approximately 2.3GW of solar projects worth over $2bn is at risk, starting as
soon as July.

India’s clean energy sector aims to increase its renewable energy capacity to more than 175GW
by 2022, of which 100GW is planned to be from solar energy. India is progressing slowly due to
policy confusion and land acquisition issues. With the coronavirus now posing a new threat to
India’s plans, it is expected that the disruptions due to Covid-19 would leave an impact for the
next two to three quarters.

The current situation is forcing Indian developers to diversify their sourcing and
manufacturers to expand their domestic production. This requires domestic solar power
equipment manufacturers’ interest subvention to stay competitive in the market and enjoy a level
playing field against foreign firms.

Lending rates in India range from 10%-12% for setting up a solar manufacturing business, while
in China it ranges from 3%-5%. Chinese manufacturers have the advantage of pricing the
components at a cheaper rate and establishing mass-scale production facilities. The current
domestic manufacturing capacity for solar cells in India is approximately 3GW-4GW and for
module manufacturing is approximately 9GW-10GW annually.

India is looking to reach approximately 20GW-25GW of capacity to fulfill its domestic needs
itself. Encouraging domestic manufacturers would make India self-reliant. The Ministry of New
and Renewable Energy (MNRE) has recommended imposing basic custom duty on imported
solar cells and modules. In addition, to focus on domestic manufacturing, the ministry has
brought in a manufacturing-linked tender where the subsidy is inbuilt.

The Covid-19 outbreak has made it more difficult to achieve the targets due to the challenges of
land acquisition, grid unavailability, supply chain bottlenecks and a lack of project financing..

During the early stages of the Covid-19 outbreak and the production halt in China, it was
expected that India would become the major alternative hub but the ongoing interruption in
supply could restrict installations both domestically and abroad in Western markets.

Globally, the Covid-19 impact would be able to be measured in the long run, primarily due to
delays in production and logistics issues. Chinese production is now resuming but not to the
fullest capacity.

The global developers that rely on Chinese components will face challenges in procurement and
in shifting towards alternative sources. For under-construction projects, the delay of goods that
are in transit or are not produced will affect the construction schedule and increase construction
costs.

The Middle East and South-East Asian countries heavily reliant on China will face considerable
challenges with ports being shut down and import restrictions imposed at several countries. With
uncertainties in ocean freight, there could be a sharp increase in sea freight rates, following an
increase in logistics demand. The delay in shipments can disturb the production schedule and
create problems for developers with heavy debt.