Orient Electric Limited, part of the diversified $2.4 billion CK Birla Group, has launched its new i-Series range of ceiling fans that promises to save 50 per cent in energy consumption and a subsequent reduction in electricity bills ahead of the roll out of new energy labelling norms from July this year. With this launch, Orient aims to increase its market share in the premium fan segment. “The range is in line with the government’s push for energy conservation as well as the climate emergency and rise of environmentally conscious consumerism,” said Rakesh Khanna, managing director and chief executive officer of Orient Electric Limited. The new range of inverter motor-based fans includes models like the i-Floral, Hector 500 and the new, IoT-enabled and voice-controlled i-Float model. The entire range will be available in several colours and designs.
The fans are also BEE 5-star rated. In 2019, the Centre had ramped up minimum energy performance standards (MEPS) for ceiling fans with existing 5-star rated fans becoming 1-star. Khanna pointed out that traditional induction-motor based fans consume 70-75W of electricity, while Orient i-Series fans consume only 35W. “With a modest assumption, if all fans installed in India are replaced with i-Series fans, it will help the nation save 10.4 crore MWh of energy annually with cost savings of approximately `Rs 67,780 crore. If the new ceiling fans sold also come with inverter motors, the savings will be bigger and incremental. This new range is a conscious effort from our side aimed at helping India to save energy and reduce carbon footprint,” Atul Jain, Executive Vice President, said.
Among other features, the i-Float fan is IoT-enabled and can be operated via mobile app or with virtual assitants. Pricing for the i-Series starts at Rs 2,850. “We should be in around 20 per cent market share in the fans segment, and in the premium segment, we are close to 45 per cent market share,” Khanna added, giving a snapshot of the company’s position in the market.