Assignment On Proposed Solution For Opportunities

INNOVATION/ OPPORTUNITY
Noja Power is a company established in 2002 that manufactures switchgear
of high voltages and provides them across the world. The company has
presence in 88 countries. Noja Power provides automatic circuit reclosers
that are used in distribution lines. Today, most of the countries are trying to
reduce carbon emissions through use of renewable energy source.
Therefore, innovation of products that use renewable energy source
and available to direct customers along with entering new markets
is a major challenge and opportunity for Noja Power.
PROPOSED SOLUTION FOR OPPORTUNITIES
In order to reduce carbon emissions, Noja Power needs to develop products
that are eco-friendly. This means that the company should focus on products
that use renewable source of energy in order to grow. This is an opportunity
as not many companies are present in this sector.
There has been high level of awareness among countries about taking
measures for climate change. In developed countries, there is high
awareness and usage of renewable energy. An example of this is European
Union were approx. 35% electricity is developed though renewable source
that includes hydroelectric too.
As per report on renewable energy by global data; the renewable energy
share was 8.6% in 2010. However, it is expected that this will increase to
22.5% in year 2020 (Data, 2018). This means more demand of renewable

energy and more awareness about it. The new generation is likely to focus
on such energy source and choose products that has less carbon emission.
Figure 1: Renewable power-generating source globally (%), 2010, 2017,
2020
Source: https://www.power-technology.com/comment/renewable-energy-
reach-22-5-share-global-power-mix-2020/
In addition, countries in almost all parts of world have started focusing on
renewable energy. Asian countries like China and India have shifted their
focus on renewable energy developed though solar and wind. Considering
Latin America, there is a rapid growth in use of renewable energy thereby
reducing carbon emission. In countries like Brazil, Mexico and Argentina;
solar and wind energy is used for then fossil fuels.

Another way for Noja Power to grow is to install electric sources that use
renewable energy for charging electric cars. It is believed that high number
of people will shift to electric vehicles. There are many countries that are
planning to introduce different promotion activities to encourage use of
electric vehicles and reduce carbon emissions. However, if the batteries are
recharged using fossil fuel, the impact of using electric vehicles will be
almost nil. Therefore, Noja Power can enter this market and provide products
that can help in renewable power generation and its supply.
Figure 2: Forecast for sales of vehicles globally