What’s Your Backstory And How Did You Come Up With The Idea
As far back as I can remember Ive always wanted to have my own business. I didnt go to college . Instead, I started working in sales, first selling car insurance for a few years, and then making the jump into mortgage loans. After a few years of gaining experience, I opened up my own mortgage company and rode the wave of the mid-2000s real estate boom. It was an incredibly lucrative time and it seemed like it would go on forever. However, by the end of the decade, the good times were over and the recession hit. Although I hung in there and we did extremely well for several years in a down economy, I still ended up having to shut down my company. During this time I experienced some of the most challenging times of my life and career.
After rolling with the punches, I started looking for the next business opportunity to get involved with. A friend of mine had been telling me for several years about solar power and how renewable energy was the future. After doing some research, I realized what a great opportunity it was.
- Theres an unlimited amount of solar energy.
- Solar is clean energy compared to fossil fuels that damage the environment.
- Solar energy is a cheaper source of energy than fossil fuels, in the majority of markets.
- Power purchase agreement allows a homeowner to get a solar system without having to actually purchase the system. There is not a purchase loan or lien required on a clients home.
Get A Solid Customer Base
Once your business is up and running and the word is out there, you still have to attract and keep customers. Keep marketing your ware, and when you do find a customer, make sure you deliver the best product and customer service that you can. As you start selling your product, your reputation will grow and more customers will jump on board.
This article makes it sound easy, but the truth is there is a lot of luck involved in any business venture. And a lot of the time it is simply about being in the right place at the right time. Still, following the steps here will give you a really solid foundation to build on with your solar business. And by having the fundamentals in place, your chances of success are greatly enhanced.
Arthur Smith is the main editor of LEDwatcher, a blog about renewable energy, efficient lighting and so much more. Arthur has been working in both solar and lighting industries for a while now, gathering knowledge and insight. And now he is turning to blogging, to help others better understand these niches. You can find him on
Creating A Business Plan
Writing a detailed business plan is the most important task before starting any business. Business plan should contain all the necessary details like business background and detailed information related to budget, working capital investment, workers, strategies, techniques, location, equipment, raw materials, etc. Business plan further helps in getting funding support from lending institutions like private and public sector banks, NBFCs, Regional Rural Banks, Small Finance Banks and Micro Financial Institutions, whenever required during the business tenure.
Apply for Business Loan @ 16% p.a. onwards Apply Now
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How To Start Solar Energy Business
10 min read
With the fearsome increase in the consumption of electricity, worldwide, the importance of sustainable sources has also increased. Both the central and the state governments of India have planned and laid out various schemes, offers, and techniques that encourage more and more people to indulge in the adaptation of solar energy. Moreover, it is the best way to avoid electricity deficiency and load shedding, especially in the agricultural and industrial sectors. The most lucrative aspect of it is the fact that it is free of utility costs and reduces expenses especially as there isnt any import duty mandated on solar chips and the solar industry, therefore, is experiencing its full bloom. The major leading sectors in the solar energy business are the Solar PV and the Solar Thermal industries. The manufacturing companies in the field are already very established and affluent with their skills and sales, the growing sectors in the industry at this point of time are:
- Become an Associate in Solar Energy Business
- Become a dealer or developer in Solar Energy Business
- Become an Integrator in Solar Energy Business
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Associate in Solar Business |
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How To Start A Solar Panel Business
A solar panel business will conduct on-site surveys of potential installations, create a solar plan for the location, work with the owner on financing and install the units. Maintenance positions within the company provide support for the new owners repairing and maintaining panels to ensure greatest productivity and return on the investment. This business requires a structured staff with skills in construction, electrical, and basic understanding of science and solar energy.
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What Is The Growth Potential For A Solar Panel Business
As more people, cities, and states turn to renewable energy sources, the solar panel industry is seeing a healthy growth of 15% annually, according to IBISWorld.com. With ongoing technological improvements and reducing costs of materials, solar power is becoming more affordable and appealing to both residential and commercial clients.
How To Access Incentives
NY-Sun and other NYSERDA incentives are only available for participating contractors. To become a NY-Sun participating contractor you must complete an application. Applicants must submit project references, construction photos of past projects, organizational charts and resumes of key company personnel, quality assurance plans, and more, as part of the application. NY-Sun has a document checklist for new contractors to use during the application process. For more information, including the document checklist and the online application, visit NY-Suns Become a Participating Contractor page.
After you are approved to become a participating contractor you may begin submitting project applications to receive incentives.
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Hello Who Are You And What Business Did You Start
My name is David Gomez and Im the founder and CEO of Clean Energy Solutions, based out of Los Angeles, California. Were a solar energy provider that provides homeowners and businesses with low-cost solar power.
From 2014 to 2019 we have grown over 6700%. Our unique solar program allows clients to save money using solar energy, but without having to actually purchase a solar system. We provide the client with a solar system at no upfront cost, and the client only pays for the energy that the system produces, but at a lower price than their utility would charge them.
Our monthly revenue is around $600,000 with big plans to keep growing. A lot of our growth in the new year will be focused on our energy-efficient affordable housing division.
Getting Some Financial Backing
When you start a solar panel installation company, youll need funding to cover your start-up costs.
For example, youll need to budget for insurance, tools and equipment, the solar panels themselves, and a van to transport everything from job to job. You should also consider how youll cover ongoing costs and ensure you charge enough for your services to make your business profitable.
Dont forget youll also need to pay taxes. If youre struggling with your companys finances, many tradespeople choose to hire an accountant to take on this role, saving you time and a few headaches.
Finally, why not open a business account to keep your company finances separate from your personal accounts?
Also Check: Is Solar Power Worth The Investment
Whos Buying Solar Panels
Once you start a business, its important to know who youre selling to. A recent University of Texas study showed that current solar buyers weigh two things before shelling out for panels. They want solar panels to be a good financial investment, i.e. cost-effective as well as be able to reduce their environmental impact. Make sure your consumers hear referrals and positive Word of Mouth about your particular products and know about all upfront costs.
Now Is The Time To Start Your Solar Power Company
Solar power is a smart investment as electricity cost rise nationwide. According to Walid Halty at Dvinci Energy, solar is the #1 most bankable sustainable technology, which has turned the industry into a gold rush.Gold rush is right because according to the US Energy Information Administration , 1.6% of total electricity generation in the US is powered by solar.
Whats more, the National Renewable Energy Laboratory claims that 40% of total US electricity could easily be provided only by solar roof panels.
These are whopping numbers and they all point to the same thing: the solar panel business is a lucrative one. Once you take the first step, you should patiently and effectively work to expand your new business. You never know, you could easily end up in the same ranks as Sunrun and Vivint Solar, currently the biggest solar installation firms in the United States.
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One: Define Your Market
When going into the solar energy business, its very important to define your market and have a niche. Once youve found a niche, the job will be easier for you as you will know where to focus your strengths and capital. This way, youll be able to identify any barriers that may stand in your way and better position your company for success. For example, if youre interested in selling solar products to customers, select a niche that you intend to focus on, such as solar panels, solar batteries, inverters, and more.
You can choose to build your solar energy business in any of the following ways:
Replace Your Need On The Rooftop
Your cabin and roof that have been used for many years can bear the heavy weight of rigid solar panels! But hey! That doesn’t mean you won’t be able to enjoy solar energy. Flexible solar panels can help because the rigid solar panel requires mounting brackets and sealing material to prevent roof leaks. In contrast, the flexible solar panel is without the need for mounting brackets and other hardware.
Flexible solar panels are easier to move around, which means if you decide to sell your house and want to take your solar panels with you, flexible solar panels can totally solve your problem.
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Start A Solar Panel Business By Following These 10 Steps:
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your solar panel business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Exploring your options? Check out other small business ideas.
Repair Solar Energy Equipment
As your business grows and you begin installing more solar panels and other solar energy products, your customers will eventually require maintenance and repair work on their inverters or other solar equipment, so its important you learn how to repair all kinds of solar equipment so you can offer your service to them. This is also a profitable niche in the solar business.
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Do I Need Any Legal Documents Written Up Before I Start Operating What About Online Legal Services
Setting up a solar panel installation business can get complicated, but with the right legal help and advice it can be made much simpler.
If you’re not sure how to get started, here are a few legal documents you’ll need:
Services Agreement
Each job you take on will need its own Services Agreement. This is a legally binding agreement between you, the service provider and your customer that outlines the expectations of the agreement. It should include details of the installation service that you’ll provide, the agreed price and a timeline. It’ll also outline how any disputes will be resolved.
Wholesale Agreement
For a business, it’s generally more cost-effective to buy things wholesale and that’s no different with a solar panel business. When you do decide to buy wholesale, it’s best practice to enter into a Wholesale Agreement with the supplier.
Employment contracts
Whether you decide to take on staff full time or engage with freelance contractors, you’ll need to have an agreement in place that outlines the obligations of both parties and remuneration.
Licences
As well as your business registration, you will need to be licensed to carry out your solar installations legally. You can check with your state as to which licences are required or use the Australian Business Licence and Information Service to find out more information.
Website requirements
Why Should I Start A Business In Solar Panels
Solar panels are expensive, but they give homeowners more control over their energy costs.
Customers return to solar installations because they save money.
Green energy is becoming more popular among consumers. Companies are trying to become environmentally friendly by using solar power.
A franchise is a good business opportunity. Franchising is an easy way to start your own business.
There is no need to invest money or time into advertising. All you have to do is follow the instructions of the brand owner.
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Write Your Business Plan
After coming up with the idea, the next step in starting your own roofing business should be to write a business plan. This is a document that will be requested by banks, potential partners, investors, and sometimes, employees. It will help you navigate where you want your business to go and help you to hold yourself to a high standard, and guide you to hit your targets.
Have your business plan established so that you can lay out in front of you your competition and see what sets you apart from them. Additionally, it will help with keeping track of your financial targets.
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Who Identify Your Target Market
To build a solid foundation for your solar panel installation startup, you must identify your ideal customer to enable you to customize your marketing appropriately. Theres a growing demand for solar panels in every consumer segment. Your target market should include:
- Independent homeowners
- Manufacturers
- Retailers Target is a perfect example. The giant retailer has installed 500 solar panels systems on their stores rooftop and plans to go 100% solar by 2030.
- Nonprofit organizations and hospitals A good example is Massachusetts General Hospital Boston. The hospital installed a 476kW solar energy system, enabling the institution to save $95,000 annually.
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Get The Business Plan Ready
Once you have all your answers, you need to prepare the business plan. Though you might have all the knowledge, considering the nature of the business, it is wise to involve professionals in developing the business plan. The plan will provide you with a cost estimate and an approximate ROI. The plan needs to cover at least 10 years of business.
It would be best to plan everything beforehand, from cost and supplier to your target market. Jumping into a solar farm business without doing your homework can affect your profit.
S To Start A Solar Energy Business
- Charting a Business Plan
Before venturing out in any field it is the very basic and preliminary task to ensure the well-being, healthy growth and dedicated financial flow of a business. Planning the course of a business includes managing the investment sectors, arranging truly to source raw materials, business strategies, arranging teams, providing training, gathering experience, contacting manufacturers, lactating the perfectly suited property, assembling required equipment, strategizing marketing, and sales techniques, and many more.
Starting a business requires a lot of capital funding in its initial stages which in turn will require external financial support. To ensure the steady flow of finance and in a calculated method, it is best to take business loans. There are several financial institutions, both private and public, banks, NBFCs, Small and Micro Finance Banks, Rural and Regional Banks, MSME loans, and more that provide an almost tailor-made loaning scheme with suitable tenures and interest rates to new businesses, entrepreneurs, and even old businesses looking for renewals. LendingKart offers all the details necessary to avail of the perfect loan, check more to find more.
- Field Research
- Legitimizing and Authorizing Business
Under the Companies Act, 2013, a business needs to be registered as a company under the following forms:
- Private Company
- TIN and Sales Tax information
- Shop and Establishment Act License
- Coming in terms with the Electricity Department
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What Certifications Do I Need To Start A Solar Panel Business
Certifications are important because they help customers feel confident about buying products from you.
Certifications can also increase your earnings by allowing you to work in more states, and they can make you more competitive.
NABCEP certifications offer national standards for PV professionals. These are some of the most common titles used by people who work in the solar industry.
People who work in this field must be skilled and knowledgeable about many aspects of solar energy.
There is also a voluntary certification program offered by NAB CEP and Green-e. This certification program is based on experience, training, and passing an exam.
Self-certification provides a more professional appearance when dealing with clients.
Certification programs help establish standards of excellence among energy providers.
