How to Start a Solar Business
A small investment may help in an income over Rs 1 lakh in a month*
There have been increased global discussions on climate change & sustainability that are gaining momentum with many countries & organisations confirming a reduction in carbon footprint.
Lots of actions around harnessing renewable energy have been piloted and research in many cases is in mid to advanced stages
In 2020, an unprecedented scenario because of Covid 19 played a significant role, impacting many businesses and acted as catalyst for many too. The Aatmanirbhar Bharat campaign also picked up many folds with many new & innovative businesses gaining real momentum.
Besides pharma, insurance, online education, OTT, telecom, healthcare etc.; many large-scale businesses gained heavy consumption. During the same time the subject of ESG (Environmental, Social & Governance) also became a much-voiced subject across all strategic interactions nationally or internationally.
The amalgamation of the global pandemic & the call for Atmanirbhar Bharat also fast tracked and created many avenues for many people who were wanting to start their own business but were not so sure, however in 2020 few took calculated risks and began with smaller investments and within limitations of their knowledge, experience and skills.
While there have been many opportunities for people who want to step up and are thinking of starting their own, solar business is one which has been one of the preferred choices.
Solar business is here to stay as the demand of energy consumption per person is going to increase and at the same time the per unit charges by the electrical energy companies are continuing to increase. Further, many cities esp. the smart cities and the next level cities and towns are also looking at utilizing the rooftops solar energy generation and there are related policies in place. These further create very large scope for the solar business.
As the shift to solar energy as the primary source of electricity is in its nascent stage in India, the opportunity is indeed very big for many years to come. One can judge from the scope of its installation on the rooftops of independent residences, residential societies, factories, institutions, schools, commercial buildings, religious places, hospitals, malls, hotels etc.
How to Start Solar Business?
Prior to starting, you need to understand the various opportunities within the Solar business:
- Start as a Solar Dealer
- Upgrade to Solar Distributor
- Start as Solar Installer / system integrator/ EPC contractor
- Initiate as Solar Service Centre
- Begin Solar Panel Manufacturing
- Be a Project Developer
- Be a Solar Influencer
While you may explore more underneath, on each of the above opportunities, some basic knowledge and understanding needs to be gained:
Basic working Technical knowledge
Loom Solar conducts a online learning session for this on every Saturday at 10-11 AM. You can join via mobile phone / laptop through this link: https://www.loomsolar.com/blogs/collections/learn-solar-with-loom-solar
Acquire right set of skills or have skilled team
Either you must have basic understanding of electrical connectivity or have an electrician to be part of your business
An installer to ascertain the surface, roof, wall, factory shed, ground etc and the use of appropriate structure + alignment of solar panels and other equipment etc.
1. Solar Dealership Business
If you are looking at higher returns on lesser investment, you may look at starting a solar dealership business from your home or from shop
2. Solar Distributor Business
In case you are already into some other business and are still interested in picking up another business opportunity, you may choose, to take either the dealership or distributorship to start a new venture
3. Solar Installer / System Integrator/ EPC Contractor
In case you are an electrician and know the house wiring, AC connectivity, have the knowledge of Inverters and batteries, then you may opt for Solar Installer / system integrator/ EPC contractor.
4. Solar Service Center
In case you are more inclined towards servicing only, you may get suitable understanding by associating with a solar company. Remember with the pace at which the installations are happening, though there is limited care needed, but with the volume, this is going to be an interesting earning opportunity.
5. Solar Panel Manufacturer
Solar Power System installation needs many components like solar panel, inverter battery, panel stand, wire, DC distribution box etc. In case you are interested in B2B business, you may start manufacturing solar panels. To install a solar panel manufacturing plant, you may need an investment of Rs 4 to 5 crores (minimum) and to have the business as profitable, you need to have about 10 customers with whom the business operations can run smoothly.
6. Solar Project Developer
Within the solar industry there are interesting opportunities of turnkey and bigger projects that include private & government projects or tenders. This opportunity needs a deeper understanding of managing the end-to-end project working capabilities.
7. Solar Influencer
This gives the opportunity to be a solar influencer without having any direct investment in solar business. However, it needs an understanding of solar business and more importantly the knowledge and working understanding of digital & social engagement.
How to Choose the Solar Company for doing Business?
As illustrated above, there are various opportunities to explore. Loom Solar is one such organization that has been introducing the latest and best technology products to the Indian market. Innovation and simplification is at its core when it comes to solar technology. Loom Solar is Faridabad, Haryana based organization, that started its India operations in the year 2018 and has been pioneering the home solar category needs with the latest technologically advanced products also ensuring the home delivery with simplified installation practices. With over 60,000 households across India and over 2500 resellers, Loom Solar is the best choice in solar powered energy systems.
Some more interesting facts
The solar business in India is growing at more than 3 times the pace. Many of the resellers who initiated the engagement with Loom Solar as dealer have now upgraded to distributor of their district and many who initiated their journey as influencers have now taken the installer practice and have started earning more than double.
It’s time to shake hands with Loom Solar and step into the solar powered world.
