Intro: In the current times with government publicising several sops to set up solar shops, it’s a good business idea. Another reason why it’s a good business idea is because average solar shops have low operating costs and high profit margins. Besides, it has a low start-up cost and can induce electricity at a lower rate than other forms of energy sources like coal and natural gas. Details of solar business in India
- Investment needed Rs. 10 lakhs-Rs. 15 lakhs (minimum)
- Investment (In case of Manufacturing) 1- 5 crore (minimum)
- Area needed 200 sq. ft for Office and 1000- 1500 sq ft for storehouse and product.
- Manpower 5- 15 People
- Anticipated Earnings 3 Lakhs- 4 Lakhs in a month
Types of Solar Businesses
- Solar installation companies that install solar panels on rooftops and give services related to conservation and form.
- Solar service providers that give services such as design, construction, and installation of solar panels on the rooftop.
- Solar manufacturers that make and vend solar panels to other companies.
- Solar inventors who produce systems in areas with high possibility for generating electricity through the use of renewable sources like wind or sun.
How to register the company online?
- GST Registration
- Shop and Establishment Act License
- ISO instrument
- DISCOM Certificate
- Direct costs announcement and marketing costs, outfit accession and installation.
- Circular costs mileage bills for the company’s core business
- Rent or lease payments
Solar power is now a crucial sector for investors far and wide. It’s due to its low carbon footmark and the prospect of low- threat returns in the future due to solar energy getting more popular.
Area Needed
The land area needed to start a solar power business is roughly 1,000- 2000 sq. ft. If planning to get into just installation or after sale services, the area needed is only 200- 400 sq. ft. to set up your office. Choosing a place for setting up solar power business has to be done carefully.
Other Considerations:
- Cost of Energy
- Regulations and incentives
- Availability of workforce and community amenities
- Shipping prices to your location
- Business climate and infrastructure
- Sunlight Hours
Most importantly, one needs to consider if there are enough people with disposable income to buy solar panels?
A solar power business should ideally be located in an area that has high sunlight hours, a low cost of living, and a low unemployment rate.
Most importantly, don’t forget to consider-” Are there enough people with disposable income to buy solar panels?” A solar power business should immaculately be located in an area that has high sun hours, a low cost of living, and a low severance rate.
Manpower Requirement
To run a solar power business, the people needed are solar panel installers, electricians, accountants and operation people. They are generally called” Solar Power Engineers” or” Solar Power Technicians”. A specific type of solar power engineer is called an” Energy Distributor”, with knowledge of renewable energy systems.
(With inputs from MSN)