Would you like to start a solar business? If yes, you have landed at the right place. Find a list of highly profitable solar business ideas you can start with low investment in this article.
Globally, the solar industry is growing very fast. It is the best source of renewable energy on earth. Solar energy is broadly classified into three categories. They are solar for home, solar for business, and solar for power plants.
Let’s review the profitability aspect of the solar business in India before diving into the business opportunities.
Is Solar Business Profitable?
The solar energy potential in India is vast. India receives about 5,000 trillion kWh of energy per year, with most areas receiving four to seven kWh per square meter per day.
Hence, both technology routes for converting solar radiation into heat and electricity, namely, solar thermal and solar photovoltaics, can effectively be harnessed to provide huge scalability for solar in India. Therefore, starting a solar business is a lucrative opportunity for entrepreneurs.
Solar power can also be generated on a distributed basis and can be added rapidly with short lead times. From an electrification perspective, off-grid decentralized and low-temperature applications will benefit rural areas while also meeting other energy needs for power, heating, and cooling in both rural and urban areas.
List of 10 Solar Business Ideas
#1. Sell Solar Products
Solar PV, solar thermal, solar attic fans, solar cooling systems, etc. are sold for billions of dollars each year and all the parts required to build and operate such installations.
Solar lights, solar gadgets, solar rechargers, and a growing list of related products are also available. Tata BP Solar, Su-Kam, and Moser Baer are some of the reputable companies that sell solar products in India.
#2. Be a Solar Product Distributor
Manufacturers of products need distributors to get their products on the market as more and more emerge. As an example, I recently began communicating with a company in Asia that manufactures a technology that allows solar systems to produce more power (2 to 5 times).
There is no doubt that more and more solar energy producers are looking to build a network of distributors to develop customers for their products.
#3. Develop & Own Solar Projects
Anyone can become a solar developer with Solar Energy. Put together a team of experts in developing a good business plan, raise the money, build your project – and use your experience in completing projects to leverage yourself into other solar projects.
#4. Sell After Market Products
There are products that can be sold to people who already have solar installations so that they can increase their yield, reduce their cleaning needs, etc.
#5. Sell 3rd Party Provided Services
Besides selling products, you can also sell other companies’ services, such as solar insurance products, solar cleaning, solar financing, etc.
#6. Invent Solar Products
Are you a bit of an inventor? New solar products are being developed all the time. Need an idea? Think about how you could use solar energy to provide power to any existing product that needs power to operate. For example solar-powered cooling systems (I’m already working on that one personally).
#7. Independent Solar Consultant
Most people want to know if installing solar on their property makes sense. Furthermore, people look for a professional opinion that explains the different options and guides them throughout the entire process.
#8. Solar Panel Cleaning
Clean solar panels generate more electricity than dirty panels, as we discussed in this article. Consequently, many customers prefer to hire someone to clean their solar panels rather than do it themselves.
#9. Energy Auditor
Energy audits are another service that is becoming more popular. Here, you will make recommendations on how to reduce people’s electric consumption.
#10. Solar Repairs
Solar systems last a very long time. However, they may need some maintenance from time to time. Especially on older systems might need upgrades with new inverters, wiring replacement, storm damage repairs, etc. Additionally, repairing solar items is one of India’s most profitable solar business opportunities.