Indian Oil Corporation Ltd. (IOCL) formally launched its patented solar e-cooking system at the India Energy Week (IEW)held in Bengaluru last month (as part of the G-20 calendar of events) and was endorsed by Prime Minister Narendra Modi as India’s clean cooking revolution.While Mr. Modi said in a speech at the IEW that the stove would reach three crore households within the next few years, Union Minister for Petroleum and Natural Gas (MoPNG), Shri Hardeep Singh Puri called it a catalyst in accelerating adoption of low-carbon options along with biofuels, electric vehicles, and green hydrogen.
The cooking system can potentially translate to savings of more than Rs 1 lakh crore in LPG costs for consumers, forex savings of Rs 50,000 Cr. in India’s gas import bills, and CO2 emissions reduction of 50 million tonnes a year for the country.
Initially, the cost of the product is pegged at Rs 12,000 for Base Model, and Rs. 23,000 for Top Model. However, the cost is expected to reduce substantially with economies of scale and possible govt. subsidies. IOCL plans to reach a price point of Rs. 12,000-14,000/- for the Top Model by 2025 and claims that the product can pay back the buyer in the first 2 years of usage. An average Indian household consumes about 8 LPG cylinders in a year, and since the stove can go for ten years without maintenance, and sports a patented thermal battery that does not require replacement in its lifetime, this can be a viable clean cooking solution for the country.