Last Updated: January 09, 2023, 12:47 IST
Since January 1 this year, ceiling fans with energy-saving star ratings have become mandatory. The new regulation may result in an 8–20% price rise for ceiling fans. According to the Bureau of Energy Efficiency’s (BEE) updated standards, electric fans will now receive star ratings based on how much electricity they can save. A fan with a rating of one star will save at least 30% on power, while a fan with a rating of five stars will save more than 50%.
While this change has been welcomed by major fan manufacturers like Havells, Orient Electric and Usha International, it is also expected to increase the cost of fans by 8 to 20 per cent. Installing imported motor and electronic components in five-star fans will increase their cost and all companies will be required to rate their fans according to power-saving star ratings.
Customers will now be able to purchase upgraded fans that save more electricity, according to Orient Electric’s MD and CEO Rakesh Khanna, who called the development a “major change.” Customers will now pay a greater price, though, as modern components will be added to the fans in order for them to receive better ratings. A price increase of 7% is what Rakesh Khanna expects.
Dinesh Chhabra, CEO of Usha International, said that the use of star-rating fans will help customers to reduce their electricity bill by compromising on the price. He said that a fan with a one-star rating of Usha company will become costlier by 5-7 per cent and a fan with a five-star rating by 20 per cent.
Saurabh Goyal, President of Havells India, said that due to the implementation of the new standard, the burden of a partial increase in the production cost of fans will be passed on to the consumers. Along with this, he said that this change is also an opportunity to make people aware of electricity savings.
Read all the Latest Business News here