Are you curious to know how to start a solar company? This is a business which has been in trend for the last several years and solar business entrepreneurship opportunities are a big opportunity.
Here we will talk about how to make money in solar business? And it will also talk about how much the solar energy start-up cost can be. And I will help you completely how solar panel business can be made more profitable.
- What is solar?
- How many types of solar system?
- Which skill and education required for start a solar company?
- Is solar panel business profitable for you?
- How to recognize solar customers and solar panel market?
- Investment scale of solar company
- What is the future scope of solar energy in world?
- How to start a solar business?
- Complete research about solar panel business
- Create a solar energy business plan
- Choose the best names for solar panel company
- Analyze your competitors
- Create a beautiful official solar company website
- Create accounts in all social media platforms
- Open a Bank account for solar company
- Register your solar company and ready for all documents with license and taxes
- Do marketing for your solar business
- Solar business consists of a few steps during a typical day
- Tips for starting a solar company
- How to grow your solar company to next level?
- Try to get customers come back again
- How to make money in solar business?
- Conclusion: How to start a solar company?
- Frequently asked questions (about start a solar company)
- 5 Best Portable Solar Panel
What is solar?
Solar is a machine that produces electric. The process of generating solar electric is associated with the temperature of the sun. First it has to take power from the temperature of the sun and then it is successful in providing electricity.
Solar system is a very good and powerful way that you can provide renewable energy system. Do you know that in today’s time the whole world wants to go towards solar system? However, a lot of people are already using solar panel.
Solar considered the best power for renewable energy sources. Because it’s under your control. And I want to tell you that it is considered one of the best and profitable business.
Before start a solar company we should understand that solar panel business is being consider as a very high demand not only in Asia and Europe but also in the whole world.
Here we will talk with full details about how you start a solar business. And not only that, but also talk about is solar panel business profitable?
How many types of solar system?
There are three types of solar which are made. Such as monocrystalline, thin-film and polycrystalline (also known as multi-crystalline). All types of solar systems are made for different purposes. All are installed according to the presence, performance, cost and all of the different situations.
It depends on you what kind of solar business you want to do. Accordingly, you need to invest the cost in the solar panel.
All types of solar are installed according to different situations and different demand and different wishes. But all types of solar have advantages and disadvantages. So you should understand advantages and disadvantages of solar energy.
Which type of solar panel is best?
The best solar panel considered monocrystalline solar. This solar business is high profitable but this solar panel is high cost and high maintenance.
Here “NationalMLM” mentions 3 types of solar panel that you can start a solar company.
Monocrystalline: Monocrystalline solar is made for high-efficiency and high performance but its cost is slightly higher.
Thin-film: Thin-film It is made for the lowest efficiency power. The good thing in this solar is that it is portable, lightweight, and is also made with Aesthetics.
Polycrystalline: Polycrystalline solar is made for low efficiency and low performance and also has a low cost.
Note: It depends on you what kind of business of solar power plant you want to do. Accordingly, the cost depends and accordingly you have a chance of being benefitted.
Types of solar panel business model that you can start
Here we mentioned some types of solar business ideas that you can start for huge profit.
- Manufacturing Business
- Sales Business
- Parts Business
- Installation Business
- Maintenance Business
- Tax credit expert
✓Solar Manufacturing Business
Doing solar manufacturing is considered one of the high-level business. To start it, you will need a good high investment. And it is also important that your profit will also be in greater amount.
✓Solar Sales Business
Solar Sales business considered a type of high profit business. In which you do not do manufacturing, but you sell by taking solar contract from the company that manufacturing.
✓Solar Parts Business
Solar parts are known as a profitable business but less than a solar manufacturing business. If you do solar power sales, then obviously you are trying to move towards a profitable business. Many companies have become a brand by selling solar parts.
Solar consultant plays a role of affiliate. You can start a solar company consultant so that if people need solar, then you can guide them what kind of solar they should take. This will strengthen your consultancy and there will be a chance for your business to grow even faster.
✓Solar Installation Business
The solar installing business is currently known as a medium profit business. Which you can start this business by taking a contract to install. It is also possible to take this business from one level to the level of good success.
✓Solar Maintenance Business
If you know the work of solar maintenance or you can hire people who know how to maintain solar. Then you can start a solar business. According to the people, you can take the contract to maintenance solar.
✓Solar TAX credit expert
You can also become a Solar Tax Credit Export which does tax credit professionally. In this type of business, not only can you become a solar tax credit expert, but you can also work with many types of tax credit.
Which skill and education required for start a solar company?
The solar panel business is an all-weather growing business. But in the summer season this business remains at a higher growth rate. So, we can say that there are huge solar business entrepreneurship opportunities in all the world.
To start a solar business, the business owner must have knowledge of the technician. Or hire people who are expert to technicians.
Owners should have a better knowledge of marketing, due to which they can think about advancing the solar company. And the employees kept in the business should also always be updated with a new technology so that their business growth rate can be even faster.
Communication skills will be needed because it is a skill that every business owner must have. This makes a huge positive impact in the business and the growth ratios grow very fast.
Is solar panel business profitable for you?
Solar panel business is considered to be absolutely perfect and profitable for such people who are belong from business skill background. And if their expertise is from electric background, then solar panel business proves to be a better business for such people. However, to grow this business even more, you must have knowledge of solar.
How to recognize solar customers and solar panel market?
The solar panel industry is a very large industry and its market potential is also very large. Therefore, we should target such people and such customers and markets that need more electricity.
Before start a solar company you, should understand that what is the solar energy market size? In the solar energy market huge demand for the work to the grow next level. And global solar energy market size is huge. After research global solar energy market, we can say that we have a huge potential.
But question is that how to find solar customers? You can find solar panel customers everywhere like that need electric in house, field, office, business plant, etc.
People like to solar plant their houses as well as in the fields. So that he takes his work to the next level. And solar panels are also needed in the business industry.
Solar panels can be made available not only for one house but also for one locality and area. The solar panel is under your control how much electric you can take it. Accordingly, people like to use solar panels to do their work (if they feel the need for electric).
Investment scale of solar company
Solar panel is a very large industry and is known as a very profitable business. To start a solar business, high investment required.
If you want to start a solar panel business through franchise, then you will need to invest upwards of about $ 100,000.
But at the same place, if you want to start a solar panel company without franchise. And want to maintain all the expenses of the business from the manage manufacturing to marketing by yourself, then you will need high investment.
To the start a solar company you need minimum solar energy startup cost will be approximately $ 500,000. Therefore, start a solar panel business consider with high investment but understand that this is a high profitable business.
What is the future scope of solar energy in world?
Future scope of solar energy business is very bright because it’s worked for electricity. And electricity needs every people in the world.
Solar panels are needed in every town and every city, even in every business and individual house. The need for this solar panel has increased because the needs of the people have increased.
This is an industry that produces electric and handles a lot of the work done by electric. And its control is on you, so its demand is increasing very fast. It is being said that every year future possibilities of solar energy increase by 15%.
Solar panel business is already trending very well and is considered a business for long time. In future, this demand of this business is going to grow even faster.
Those who have interest in the business of solar panel and those who want to start a solar business, they should definitely start. We have told full details about future of solar energy business here, which is enough to take you to a success.
How to start a solar business?
We have covered all the importance of solar panels questions. Now we know what are the steps that will make it easier for us to start a solar panel business. How to start a solar company? Here are some important tips that you should follow.
Complete research about solar panel business
Before start a solar company, you need to do a complete research about the solar company. You should try to do a thorough research on the facts of the solar company. And try to understand how the company can be started and get to the next level.
Research means that you also need to pay attention to the pros and cons of the solar company. Even you need to analyze at which level the company can reach profit. If the company is in loss, then to what level can the loss be. By analyzing all these things, you need to understand the company better.
Create a solar energy business plan
Create solar energy business plan is a very good map to reach a business successfully. Every entrepreneur makes a great plan before starting a business, so that they are successful in making their business achieve.
Before star a solar panel business you should create 1st grade plan. You should also make an alternative plan so that your plan is not disabled.
Choose the best names for solar panel company
Choosing the right name of a business (which points to the business) is very important and it is also considered challenging.
Before start a solar company, you should choose a name that only shows through your name what your solar panel business is about. Do not try to choose a longer name. Search for a business name within a word or two world that is easy to understand and easy to read.
If there is no better name recommendation in your mind, then you can use the tool of “Business Name Generator“. You should search in Google. After that you will be successful in choosing a better name.
We are going to mention 3 such points here, after which you can choose a better name about your solar panel company. Which is easy to read and easy to understand.
- Check your state’s business records that help to grow your business.
- Social media platforms for build your business page and group
- Check Web domain availability for build your business website
Analyze your competitors
Before start a solar company, you need to analyse your business competitors, so that you get increasement in the growth of your business.
You get a better idea of how you can try to take the business next level. And to what level do your competitors do business. Analysing all these things is considered part of a business.
Create a beautiful official solar company website
Before start a solar business, you need to create a beautiful website. In which solar panels can make it easy to reach all the information of the business to the user.
The official business website is a type of your identity. By which people get a better understanding of what kind of service or product you will offer to the people. And you can share everything about your business with the user.
Create beautiful portfolio
Neither only needs to create a solar business website, rather you need to share all kinds of knowledge related to solar panels. And in it you will tell about all types of business, such as full details of your solar business. You can show it in the website as a portfolio.
Create FAQ page
When you create an official website of solar, then the problem with solar should be added to the question answer group through your website the in FAQ page.
So that whatever your customer becomes, they can get even better information about solar. And for small problems, they do not have to worry much.
Create accounts in all social media platforms
It is very important to remain presence on all popular social media. Because you get an offer to reach the target audience and target market from there.
Social media is a very powerful platform on which you can tell people about your business. And people are the easiest way to reach you. There is a lot of audience on social media, so it is important to create all the accounts of your business on it.
Open a Bank account for solar company
For the start a solar company, It is necessary to open a business bank account to tell the difference between personal assets and business assets and keep separate.
By opening a business account, not only can you separate and protect your personal account, but it also becomes very easy to maintain accounting and tax.
Register your solar company and ready for all documents with license and taxes
Registering a solar company and taking a license as well as allowing a permit are all things considered very Mandatory. If you do not have all these documents available, then your company may have to suffer heavy losses.
And it is also possible that your company will be shut down. Therefore, before you start a solar company, it is important to arrange for tax along with license, document, and permit.
Do marketing for your solar business
Finally, you need to do marketing for a solar company. By marketing, you can reach your potential customers and grow your business.
There are many ways to do marketing, word-of-mouth, sponsorship, affiliate program and social media marketing. Even to the help of digital marketing you can reach more customers.
Marketing is very important for any business to grow rapidly. Digital-marketing is considered more effective in the same place.
Solar business consists of a few steps during a typical day
You need to think better about your business. Therefore, you can adopt these types of activities about solar business consists of a few steps during a typical day
- Trying to reach even more customers to expand solar business.
- To provide discounts to the customers so that the customer is loyal to your business.
- Calculate the amount of energy of the solar panel and increase or decrease the volume accordingly if needed! Can say that to maintain.
- Calculate for solar panel stores and then store them in a check list. And make a correct accounting for its maintenance.
- To find a suitable and talented employee to take the business to growth.
- To provide better maintenance for the existing solar panels and better for the service.
- Always active for the solar panel business and loyal with the working employee.
- Strive to take business to the next level. Using digital marketing because of digital marketing we can take the business to the next level very fast.
- Create a better and attractive business website so that you can drive your customers to the website. And give better and easy knowledge about the solar business.
- Creating a FAQ page in the website. So that solar panel business related information in that page to gather all kinds of information. And customer is informed about the solar panel business so that there is no need to bother for small problems.
Tips for starting a solar company
To start a solar panel company, collect all the things that need to established the solar business. After you have ready all the documents, tax, license, etc. You should get a good review by your first customer. So that more people can show the review given by customers.
And you should gather better knowledge about your solar company in the market. Which will give you a better understanding about the solar business ideas.
Now make sure that you are providing some offers to your customer. This will make your business recognized very fast and it will not take much time for your business to grow.
How to grow your solar company to next level?
Getting any business to the next level is considered a bit challenging and efforts are also required to be put into it.
Here we have given some easy tips to take the business to the next level which you should follow. After following all these tips, you can take your business to the next level fast.
#1. Use social media for expand your solar panel business
There is a Tons of customers in social media in which you can reach the target customer for the business of your solar panel by targeting.
#2. Run online advertisement
Running online advertising would also be a better way to expand a business. And it depends on you which social media platform you want to choose. Most people choose Facebook because Facebook has the billions of People who belong from the worldwide. You can target many such customers (who are related to your business, who have interest in your business).
#3. Donate some solar panel
By donating some solar panels, your branding deepens among people and your trust in people is built quickly.
To donate means to branding, this means that you can donate some solar panels in a park or school in a high traffic area. This will reach your reach more people.
#4. Create your company branding
You also need to do branding of your solar company. It is beneficial to do branding of the company that people knowing by the name of the brand. For the reason that people feel the need to find solar then people can reach you easily.
#5. Provide offers if possible
People like the offers very much. Therefore, if there is a facility of offers in business. Then such business does not take much time to spread. This facility can be any type of product, service, knowledge, free guide, check book list, PDF guide book etc.
#6. Affiliate program system
Providing affiliate programs is also a great way to promote a business. People associated with you promote your business. In return, you pay them some percentage commission which is fixed by you.
#7. Repair facilities provide
You will also need to provide the facility to repair the solar. But if you do not want to solar repair facilities. You want that you only do solar manufacturing or solar sale.
Then you should contact a company that does solar repairing. If the customer needs to do old solar repair, then try to contact your customer to that repairing company. In the early days, you can also give some percentage discount in solar repair.
Try to get customers come back again
You need to provide some offers to make the customer reach you. Once the customer comes to you, try to bring them back to you.
With this it can be possible that you can think about helping your customer more. Related to help product or can be related from products guide, etc.
To reach you even more customers, you need to donate some solar panels in school or park. This makes your branding to a very good level and people become your loyal customers.
The business of the solar panel should point to a place which is a high traffic area or a business industry area. It is considered easier to expand business in such an area.
How to make money in solar business?
Make money in solar business to the next level, you need to increase the range of your business. There is a need to reach more and more customers. You should target such customers and markets that are related to your business. For this, you can think about providing some offers.
To make solar panel business more profitable, you will need to build a strong relationship in the market. And you can also work as a contractor for solar panels. So that the customer needs any assistance related to the solar panel or if the solar panel is needed.
Social media is considered a very powerful tool in present times. Through which you can do marketing for your business. That is why you need to be present in social media. Through which you can easily reach the target customer to make your business more profitable.
Conclusion: How to start a solar company?
We talk about all steps to start a solar panel company. So, we understand that solar panel business is known as a big business which requires high investment to establish.
But you do not need to think about income because it is considered to be a business with the high potential and high growth.
This business is needed by all those people who use in the electric home, use it in the office. It is mostly used for factories or profession work where electricity is required. Because the solar panel works to generate electricity and makes a lot of our work easier.
In the coming time, the demand for solar panel business is going to increase even more, you should pay attention to this business.
If you like this post better, then share it with your friends and family members, they will also know how to start a solar company.
Read also: How to start a headstone business?
Frequently asked questions (about start a solar company)
Here we mention all FAQ about start a solar company. After read this FAQ about start a solar company you can better understand about solar panel business.
How much does it cost to start a solar company?
The cost of starting a solar company can vary from country to country. It depends on the location and size of the solar panel where you are starting and how much production you are starting with the company. But the possibility of general $ 100000 to $ 300000 cost investment is considered.
How do solar companies make money?
There are many ways for a solar company to make money. For example, a solar company can earn money by selling solar, by taking contracts, and by supplying electricity. It depends on which level and type of business you want to do. But one thing is certain that there is a lot of profit in this business.
What is the profit margin for solar companies?
The profit margin of solar companies depending on what kind of business and what range of business you want to do. The gross profit margin of general solar company ranges from 20% to 25%.
How big is the solar market?
Solar market is big industry because the work of solar panel is to generate electricity. And it is needed everywhere even if it is home, office, factory, it should be a place of personal work. If we are talking only in the America, then only in the American house installed 19.2 GW of solar PV capacity in 2020, enough to power 17.7 million US homes.
Is the solar industry growing?
Yes, the solar industry is growing very fast. If we talk only about America, then the 2020 report in America shows that the solar panel industry has recorded a record 19.2 gigabytes. And by 2030 it is growing at a quadruple speed. Can say that there will be 43% growth.
How much is the solar industry worth?
The solar industry is considered very worth it. In 2018, the solar industry has a market of 52.5 billion and by 2026 this business is growing to be a business of 223.3 billion. It can be said that more than 20% of the growth has been from 2019 to 2026.
Future of solar energy in India
Future of Solar Energy in India is growing very fast. Before to 2018, the demand for solar panels was low in India. But after 2018, its demand is increasing very fast. Because the work of electric and the need of people has increased a lot, which can be done through solar panels. In the last few years, there has been growth of about 23% inside Solar Energy Business India. There is a demand to start a solar panel business in India, so you can start a solar company in India by following these steps.
Is solar energy in demand?
The demand of solar energy is increasing very fast all over the world. Because it is the one thing that produces electric and makes the work of people easy. In the coming times, we can say that by 2025, the solar panel business expects 125.2 gigabytes.
Read also: Quick result and high margin business
5 Best Portable Solar Panel
#1. Victron Energy SmartSolar MPPT 100V 20 amp 12-24-Volt Solar
Learn more | 218+ ratings | 218+ answered questions
- SmartSolar MPPT 100-Volt 20 amp
- Using the latest, fastest technology
- The SmartSolar charge controller will even recharge a severely depleted battery.
- It can operate with a battery voltage as low as 0 Volts
- Anytime anywhere remotely control
- Monitor the extensive features of your SmartSolar MPPT charger
- Built-in Bluetooth by pairing it with your smartphone or other device via VictronConnect
#2. 120W Portable Solar Panel with USB QC 3.0, Typc C Output
Learn more | 374+ ratings | 70+ answered questions
- Paxcess upgraded 120W portable solar panel
- One of the highest charging efficiency
- Power your larger lithium power stations with the 120W Solar Panel.
- 4 different size of connectors
- Solar Panel with high conversion efficiency up to 23%z
- It ideally suited for outdoor life and even unexpected power outages Equipped
- Provides 2X faster charging speedy for your smartphones, tablets, laptops, lamps, power banks, Macbook Pro, iPad, switch, etc.
- Great portability by folding and packing in a neat bag when storing or travelling with the Panel
#3. Jackery SolarSaga 100W Portable Solar Panel for Explorer 240/300/500/1000 Power Station
Learn more | 2,310+ ratings | 263+ answered questions
- Providing outdoor green power solutions for explorers
- Jackery portable power station, power outdoors.
- Build up your Portable-Solar-Generator System together with Jackery Solar Saga 100W
- Jackery Explorer 160/240/500/1000 power station
- Ideally suited for the outdoor life and even unexpected power outages.
- High conversion efficiency up to 23%
- Generate more energy and perform better than conventional panels in hot weather.
- Charging multiple small devices at the same time, including smartphones, tablets, digital cameras, etc.
#4. ROCKPALS RP082 100w Foldable Solar Panel Charger with Kickstand
Learn more | 487+ ratings | 90+ answered questions
- Solar panel 100w can be compatible with the most solar generators on the market
- 5.5*2.1mm DC for ROCKPALS 250W/300W/350W/500W power station
- With a parallel cable just can connect 2 same RP082 100w solar panels to produce more power.
- Foldable has high conversion efficiency up to 23.5%
- Generate more energy and perform better than conventional panels in strong sunlight
- Ideally suited for outdoor life and camping
- 4 times faster charging speed for your smartphones, tablets, DV, etc.
- Portable solar panel 100w is foldable design with a handle
- Convenient to carry it wherever you go
- Water-resistant to endure all weather conditions
#5. TwelSeavan Solar Panel 120W, Foldable Portable Solar Panel
Learn more | 130+ ratings | 55+ answered questions
- Constructed form high-efficiency monocrystalline solar cells
- Convert more solar power into usable energy.
- Includes a variety of connectors
- Compatible with most portable solar generators
- Upgrade 4-port smart charging technology
- Charging compatible devices is 4 times faster
- Suitable for smartphones, tablets, power banks, digital cameras and more
- Easy to carry anywhere you go
- 4 metal reinforced mounting holes and 4 adjustable kickstands for easy installation or angle adjustment.
- Ultra-durable polyester canvas to provide weather-resistant outdoor durability