Sunlight is an important source of renewable energy. Solar power is the conversion of this energy from sunlight into electricity, either directly using photovoltaics, or indirectly using concentrated solar power. Anyone can use solar cells to generate electricity from sunlight.
Nowadays, the demand for the solar arrangement as an alternate source of energy is growing tremendously.
This increasing popularity is creating a huge potential for entrepreneurs to start a solar business. India is endowed with vast solar energy potential. About 5,000 trillion kWh per year energy is incident over India’s land area with most parts receiving 4-7 kWh per Sq. m per day. Hence, both technology routes for the conversion of solar radiation into heat and electricity, namely, solar thermal and solar photovoltaics, can effectively be harnessed while providing huge scalability for solar power in India. Therefore, starting a solar business is a lucrative opportunity for entrepreneurs.
If you are interested in making money from solar energy-related business ideas, then here are some of the best chosen solar business ideas that can set you above the competition.
1) Selling Solar Products
Billions of dollars of solar PV, solar thermal systems, solar attic fans, solar cooling systems, etc. are sold each year, not to mention all the parts that are required to build and operate such installations. In addition to that, solar lights, solar gadgets, solar rechargers, and a growing list of related products. Clearly, you have a lot to choose from.
2) Solar Products Distribution
If you can’t go into the manufacturing of solar panels, then one of your best bet when it comes to starting a solar energy-related business is to engage in the sales and distribution of solar panels. Just ensure that you network with solar panel manufacturers both within and outside your country and you position your business in the right location. Starting a solar product distribution will require lesser investment and can be started by anyone.
3) Solar System Repairing & Maintenance
This is actually an aftermarket service-based business. After the installation of the solar project, it demands regular maintenance, check and repair. Therefore, offering repair and maintenance services is a lucrative business to start in the solar industry. However, the business demands both technical and networking skills. Also, it is a low-cost startup opportunity.
Solar items repairing is one of the most profitable solar business opportunities in India.
4) Solar Energy Auditing
Another service that is growing in demand is conducting energy audits. Basically, in this profession, you will have to make recommendations on how people can reduce their electrical consumption. This is a highly knowledge-based business. As a solar energy auditor, your primary responsibility is the determination of the energy requirement. This is the basic requirement when anyone wants to install solar energy panels.
However, an auditor is actually a salesperson, marketing conservation and renewable energy resources, offering people a way to control energy consumption. The business demands very small startup capital for commencing.
5) Starting a Solar Farm Business
An average person is familiar with solar panels mounted on the rooftop of houses but the truth is that both the solar panels in our homes and solar farms serve the same purpose but in varying degrees.
The solar panels in our homes are single panels mounted on the roof that gets energy from the sun and converts it into Alternating Current (AC) for use in the house, while solar farms which are also known as Photovoltaic Power are a large area of land where solar tracking towers are mounted to provide power to a community.
6) Solar Consultancy
Solar energy consultants supervise, monitor, and make recommendations when a solar installation project is being/about to be carried out. A lot of people would like to know if it makes sense to install solar on their property. Additionally, people look for a professional opinion that looks at the various options and guides them through the entire process.
If you have experience in developing solar projects, starting a solar project consultancy can fetch you good returns. You can work independently or together with like-minded consultants.
7) Solar Product Marketing
Becoming a solar product marketer is also a smart business idea. Some of your responsibilities will be to introduce the benefits of switching to solar energy as a source of power to business owners. You may do this as an independent solar product seller or as an affiliate of a solar installation company.
8) Solar Panel Cleaning
There is a growing need for cleaning solar panels. It is observed that dirty panels do not work as efficiently as clean panels. The solar cleaning business can be started with very low capital.
9) Solar Blogging
Blogging on solar energy-related topics is one cool way of starting a solar energy-related business. Blogging is all about creating useful and perhaps educative content for a target audience on the internet. If you think that you have good knowledge of the solar energy industry, you can make money by sharing your knowledge with a wide range of audiences via your blog.
If you take a keen interest in solar-related matters and looking forward to earning money from the comfort of home, starting a blog is worth considering.
10) Starting a Solar Energy University or Training Institute
Education and training is the key to any industry which is why you can find specialised universities like oil and gas university, marine university and films and art colleges et al. So, if you are looking towards starting a business in the value chain of the solar energy industry, then one of your options is to start a specialised solar energy university or training institute.