World over, energy systems are undergoing rapid transitions towards cleaner and more sustainable solutions with renewable energy sources at the centre of these systems. However, there still exist several gaps that hinder the adequate scaling up of these solutions.
Energy Efficiency Services Limited (EESL) in partnership with The World Bank and World Resources Institute India (WRI India) are organising the #InnovateToINSPIRE challenge, inviting sector experts and practitioners to submit sustainable and scalable solutions under four broad categories: Grid Management, Electric Mobility, Energy Efficiency, and Energy Market Transformation.
CHALLENGE 1: Develop a forecasting tool to improve the accuracy of weather and wind forecasts.
CHALLENGE 2: Develop an economically viable battery system with improved energy storage, power performance and charging capabilities, and revenue stream?
Electric Mobility (EVlution)
CHALLENGE 3: Develop an electric vehicle that costs INR 10,00,000 or less and runs 200 km or more on a single charge.
CHALLENGE 4: Develop household devices that can help minimize or remove stand-by losses.
CHALLENGE 5: Develop a business model that can reduce the final rental per kg of goods by over 40 percent and/or the cost of transportation by 25 percent with a lower payback period.
Energy Market Transformation
CHALLENGE 6: Develop instruments of securitization to create liquidity to support energy-related innovation.
CHALLENGE 7: Develop instruments to be issued by entities for low-cost and long tenure loans.
Submit your ideas on the challenge website: innovatetoinspire.in. For eligibility and other details, please visit rules section of the website.
Applicants will present to the world’s leading experts in the realms of energy management and sustainability. Winners of #InnovateToINSPIRE Challenge receive funding of INR 5,00,000 each, along with mentoring and guidance from sector experts to help them bring their solutions to the Indian market. The Challenge is open to participants from across the world until 12 October 2018.