Good Enough Energy’s goal is to provide solutions that not only unlock new revenue streams but also enhance energy efficiency, facilitating the seamless transition toward a greener future.
In a recent interview, Abdullah interacted with Akash Kaushik, Founder of Good Enough Energy in which he discuss about the objective and core focus of the company, specialized and most used products, research and development method, profitability of their customers, insights into Good Enough Energy concept and strategy for electric vehicle market.
Would you want to tell us a little bit about the company?
We are a battery energy storage system company committed to supporting India’s ambitious goal of generating 50 percent of its energy from renewable sources by 2030. Currently, India imports nearly 80 percent of the fossil fuels used for electricity generation, which significantly impacts the economy, cash flows, and foreign exchange reserves. By increasing the share of renewable energy, we aim to mitigate these economic pressures.
Presently, renewable energy accounts for a 12 percent share of India’s energy mix, with solar power contributing approximately 65 GWh out of the total 500 GWh. Last year, India added 12 GWh of solar energy capacity, and it is expected to increase to 14 GWh in the coming year. While renewable energy sources like solar are promising, their reliability is limited. Solar energy generation peaks between 11 AM and 3 PM, with lower output in the mornings and evenings. However, the highest energy demand occurs during these off-peak times: in the morning when households are active and in the evening when streetlights and appliances are heavily used. Additionally, electric vehicles (EVs) are typically charged in the evening after returning home.
To address this disparity between energy generation and demand, energy storage is crucial. By storing solar energy generated at noon, we can utilize it during peak demand periods in the morning and evening. This is the mission of Goodenough Energy, named in honor of Professor John Goodenough, the inventor of lithium iron phosphate batteries.
We are proud to announce the establishment of India’s largest gigafactory with a capacity of 7 GWh, set to become operational in October in Greater Noida. Furthermore, we are planning an expansion to 13 GWh in Jammu, Kathua. Together, these facilities will provide a total capacity of 20 GWh, contributing significantly to India’s goal of achieving 500 GWh of renewable energy and generating 2000 GWh by 2030.
Could you tell us a little bit about one of your most popular and specialised products?
This product is known as Storage 0.25 and can replace diesel generators. For example, if you have a 125 kVA generator, this system, with a capacity of 250 kWh, can be used instead. Over three years, the cost of fuel for the generator would amount to X. For the same cost, you can have this system, which will operate for 25 years. Therefore, your return on investment will be realized in just three years, and for the remaining 22 years, you will be saving money. That’s why we call it a profit machine.
This system can also be used for grid and substation-level applications. Typically, your electricity bill comes from a DISCOM such as BSES, UPPCL, NPCL, or APDDL. These DISCOMs often have limitations; for example, their substations may be limited to 2 MW for a society or locality. However, in the evening, when there is no load requirement, the grid may fail. To support the grid, this system can be used. It charges during the noon and supports the surplus load in the evening.
This system is not only applicable for DISCOMs but also for large solar power plants. Energy can be stored during the daytime and supplied when needed. The principle is simple: store energy when it is in excess and use it when it is most required. These are the two main applications.
Would you mind sharing with us your approach to research and development and how you allocate both innovation and technical advancements?
We have been working in the battery industry for the past 11 years. As an aerospace engineer, I have spent time in the UK, France, and Sweden. During my research in Sweden and France, I collaborated with a team of individuals who have also studied, researched, and worked extensively in this field. Now, we have returned to India with the intention of making a meaningful contribution to our motherland. We believe we can’t just stay abroad and say that nothing will change for India; we must be the change ourselves.
Our products incorporate a liquid thermal management system, which is essential because lithium-ion batteries can become quite warm and potentially explode due to temperature constraints. We have developed a chiller that controls the battery temperature, ensuring it remains stable regardless of the ambient temperature, whether it is 65°C or 45°C. This liquid pool management system works with a cold plate to maintain the temperature at 25°C or higher. Our integrated solution combines an inverter, chiller, and battery into one system.
More than 50 percent of the content is indigenous, thanks to our own tweaked chemistry for lithium-ion cells. While we procure the cathode, we ensure precise manufacturing, giving us control over each element of the components. This allows us to produce an advanced battery with over 10,000 life cycles and a lifespan of 25 years, accompanied by a 12-year warranty.
How can you guarantee your clients’ profitability?
As I mentioned, when considering the three-year fuel cost of a diesel generator, we ensure to provide you with the lowest storage cost in the world, currently at 3 rupees per unit. If your society uses a diesel generator, you pay 25 rupees per unit, including charges and maintenance. In contrast, if you use electricity from the grid and store it in our system, the grid electricity costs 7 rupees per unit, and the storage cost is an additional 3 rupees, totaling 10 rupees per unit—significantly less than 25 rupees.
Furthermore, if you use renewable energy, the cost is 3 rupees per unit, and with the 3 rupees storage cost, the total becomes only 6 rupees per unit, which is much lower than 25 rupees. Therefore, using our system is always profitable. Besides being cost-effective, our system is sustainable, reliable, economical, efficient, and profitable, regardless of how you choose to use it.
Can you provide insights into Good Enough Energy concept and how it is influencing your strategy and offerings in the electric vehicle market?
In the near future, charging electric vehicles (EVs) at home may no longer be permitted. Instead, charging will be restricted to public chargers. This change is necessary because if each household has a 7-kilowatt-hour load for charging their EVs, the combined demand from multiple houses in a single society could overwhelm the grid and substations. To manage this, authorities will regulate charging to public stations, which can handle the load more effectively.
Charging at public stations during the day and then using the EVs will help defer the need for expanding substations. This practice is already common in countries outside India, such as China. Additionally, there will soon be a tariff difference based on the time of day, which will support EV usage by aligning it with the capacity of the electric system.