How to Start and Run a Solar Energy BusinessJanuary 7, 2021
Starting a solar energy business may be an exciting venture and is a great way to take part in an emerging sector with amazing income potential.
As a matter of fact, based on the International Energy Agency, between 2016 and 2021, solar panels will be accountable for adding around two-thirds of the power capacity across the world.
This makes its solar business a profitable venture to tap from. Most firms have begun to understand how lucrative the venture is and are slowly tapping into this massive business. If you’re also planning to establish one, here are tips that can help you start and operate the business:
1. Find Enough Space
Solar farm businesses require enough space so as to install their panels. You will need at least 16 acres of land to start your business. If you have enough capital, you may buy land right away. Though if you don’t plan on buying one, you can be able to rent one.
The renting agreement needs to be 50 years or more. This may ensure that there will be no need to dismantle your solar panels anytime soon.
2. Use Maintenance Management Software
Maintenance management is not simple, particularly when you have no idea what CMMS is and how to use it. Therefore, what is CMMS software? CMMS software is a system solution, which helps businesses streamline, automate, and manage their maintenance activities.
In most engineering and maintenance departments, energy is the highest expenditure after personnel costs. As with workers, engineering and maintenance managers need to track energy use efficiently so as to operate effectively.
3. Offer Installation Services
Basically, not every individual in the solar business may install it. That means anyone buying inverters will require a person to set them up. This niche encompasses electronic knowledge and good electrical.
If you’re just an electrician or have experience connecting wires, installing will be a great niche. All you have to do is partner with vendors of solar energy products to ensure they reach you whenever their customers purchase products and require an installer. In fact, it’s recommendable that you offer both installation and selling services because you will even make more profit.
4. Introduce a Work Request System
At times, a work request, referred to as work tickets, is a task assigned and scheduled to a particular individual. You may create a work order and associate it with the right portfolio and plant so as to have a clear history of your properties.
You can also use powerful O&M tools to develop a dynamic schedule, which reduces risks and errors in plant management. This way, you will prevent outages and keep your solar power plants running optimally.
5. Start as a Franchise
Among the key advantages of starting as a franchise is that your business assembly will incorporate every necessary component of an organized enterprise.
This means you will have a proven system that includes a roadmap for making sure that your enterprise is well organized, including its CRM customer data system, finance, marketing, IT-related matters, accounting, and insurance, just to name a few.
6. Choose the Market Niche
It is important to research to know the needs of people living within your locality. Various solar niches are basically at the saturation point when it comes to the local market. Although a few solar firms may provide customers with more than one service or product, most of them concentrate on a niche, which is undeserved, and they may excel in. Some of the niches you may choose to focus on include distribution and maintenance.
In a Nutshell!
Solar energy is created by the sun and might be harnessed, just like other kinds of energy, to run businesses, public agencies, and homes. The best thing about solar energy is that it’s renewable, environmentally-friendly, and free.
With more individuals turning to renewable energy, launching your solar business can be a sound investment, which guarantees a promising future, especially when done right.