Solar power business in India is mollycoddling. The opportunity in this sector is dynamic and extolling. Every person in this country today has a well economic space to edify his/her solar business without thinking of capital and ancillary expenses. Evading figures, it’s a well-known that India today walks on a red carpet in the worldwide gala of solar sector. We have figured out on how you can put your foot in the carpet. Governing you further, we have chosen few best business opportunities and ideas that can bear some fruit for you in this green rush. Having said that, today, consumers are nominating everything which is green, so specifically this business needs a smart inventory. Keep Adding it Your List!
Product-Oriented Solar Business Opportunities
Sell 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 component parts required to build and operate such installations. Add to those solar lights, solar gadgets, solar rechargers are among the growing list of related products that you can shelf and strategize a go-to market plan and be a market-frontier.
BE A DISTRIBUTOR
As more and more manufacturers emerge, the portfolio is going to fortify. Every manufacturer needs a distributor today who can proffer unique business models. For example, a manufacturer sitting in some 1st tier city needs to reach remote location or to unveil his solar panels in diverse geographies across the country needs an evident and aggressive marketing platform. There you come-in, feature their products, understand their portfolio and reach out to the very last mile (end consumer).
SELL AFTER MARKET PRODUCTS
Many think that putting up a solar is the just the story but it’s not the case. Solar business brings long-term customer relation and business. There are products that can be sold to people who already have solar installations to increase their yields, reduce the need for cleaning, etc.
SELL 3RD PARTY PROVIDED SERVICES
Besides selling products, you can also sell services provided by other companies – such as solar insurance products, solar cleaning, solar financing, etc.
INVENT SOLAR PRODUCTS
Are you a bit of an inventor? There’s a whole bunch of new solar products being developed. Need an idea? Take a look at any existing product that needs power to operate and think about how you could use solar energy to provide that power. Maybe you have a new way of doing something, the opportunities in solar are just as big if not bigger (solar is truly a global business).
Take what someone is successfully doing in one market and try to make it viable for your local market. You can also try it to a niche market like (e.g., solar for RV vehicles, solar products for boats, solar products for recreational users, solar powered agricultural buildings, government, mobile apps for people interested in solar energy, etc.). There are a lot of opportunities.
PRODUCE INFORMATIONAL PRODUCTS
With everything going on in the solar industry today, there is a strong demand for good quality information. If you are good at research; consider producing research reports, ebooks, instructional videos, solar training classes. The list of things you can make is limited only by your imagination.
PRODUCE FINANCIAL PRODUCTS
Set up a financial company and offer specific financing products such as solar construction financing, long term solar project financing, joint venture financing, provide angel financing, acquire solar projects, etc. There are a growing number of private investment groups that are well equipped in nurturing this business vertical. Why not you too join this lucrative business!
DEVELOP & OWN SOLAR PROJECTS
Unlike other projects in different sector which evidently needs a harrowing experience. It can be well justified that everyone today can be a solar developer. Find a good location, put together a team of experts develop a good business plan, raise the money, build your project, use your experience and complete projects without getting your hands dirty.
INDEPENDENT SOLAR CONSULTANT
A lot of people would like to know if it makes sense to install solar on their property. There you come in, they need professional guidance and literature guiding them across their entire process. And I can second this sector is bullish, so you might tap it fast.
Solar installations are expensive and there are a lot of different government programs out there. Also, some banks will lend money for solar installations; so why not provide your services to help clients find the money they need to build their projects. Just as there are mortgage brokers, why not create your own “solar brokerage service”.
In real estate, this business model has been in the books for years. Hence, solar appraisal business can also corner a market. The nature of the business is to assess the value of a solar array on a property for sale or the future potential of adding a solar installation on a building.
Solar systems last for a long time but some maintenance is required from time to time, especially on older systems that might need to be upgraded with new inverters, wiring replaced, storm damage repairs, etc.
START A JOB PLACEMENT SERVICE
On one hand, you have a lot of companies in the solar industry that need to hire people and on the other, you have a lot of people who would like to work in the solar industry. Start a solar job placement service, offer tips and advice to employers and job seekers alike. You would be helping a lot of people, including yourself.
START A SCHOOL
Have a skill already like knowing how to install solar panels or solar heaters then why not to educate others. As noted above (No.14), there is a big demand for skilled workers and you can provide training (either online or hands on). There is a growing need for skilled installers. That’s just one example there are many other skills you could teach people.
START A NON-PROFIT
You don’t have to be limited to for profit ideas, there are a number of non-profit solar business opportunities. For example, you can start a foundation to help bring solar energy to people in need, advocate the adoption of FIT programs in your state, promote solar energy awareness in your community, promote greater awareness of vitamin D to help prevent disease, raise money for installing solar systems in developing countries, etc.
There is a growing market for companies looking to acquire and develop portfolios of solar projects. In India, the concept is simple. Work on your own schedule to provide energy solutions for commercial clients through your existing and new relationships that you build and get paid for doing what you love.
Another service that is growing in demand is to conduct energy audits and make recommendations how people can reduce their electrical consumption. In commercial and industrial real estate, an energy audit is the first step in identifying opportunities to reduce energy expense and carbon footprints.