Understanding the Market and Investment
The best place to start a new solar business is in smaller markets. You will need to acquire an inventory of panels to be installed in customer homes and businesses. The initial average investment to enter the solar market strong is around $500,000.
Becoming a Solar Business Associate
Our business associates are a single stop solution for solar projects from site survey to installation to maintenance. Solar panel installers are expected to be licensed to deal with roofing and plumbing. By 2021, the number of installed solar panels in America had already surpassed 2.4 million.
Targeting and Profitability
Choose your target market well. Residential solar panel installation projects average at $16,800. In your first year working part-time you could do two installations per month for $17,000 per installation. This would give you about $40,000 in profit.
Essential Knowledge and Skills
Before becoming a solar dealer, it is essential to have a comprehensive understanding of solar technology. As more industries become familiar with solar power, the infrastructure is adjusting to accommodate it. Installing solar units is the main source of income.
One of the most challenging aspects is determining how much to charge. Customers may view products as cheap if underpriced to drive demand.
Investment Breakdown
To install a solar panel plant, you may need an investment of Rs 4 to 5 crores (minimum). 3 Ways to Start a Solar Business in India:
- Become Solar Business Associate. Your investment: 25,000-40,000.
- Associating with Solar Companies if You Are a Solar System Integrator. Your investment: 50,000 – 2,00,000.
- Become Solar Dealer or Distributor. Your investment: 2,00,000 and above.
Solar Technologies
There are three key technologies:
- Solar Heating & Cooling: Thermal energy can be generated, primarily used for water heating.
Education and Progression
Take computer science, math, physics, and shop classes if you want to work in the solar energy sector in a technical capacity. Aspiring science workers should benefit from taking chemistry, earth science, environmental science, physics, and related classes. With sufficient experience, solar installers can move up to supervisory roles or even start their own solar installation company.
Job Market Growth
The future of solar jobs looks bright! Employment for solar photovoltaic installers is projected to grow by 51 percent between 2019 and 2029. There is a huge potential for job growth, and the renewable energy sector is set to expand by 50 percent by 2024.
Starting a Career in Solar Energy
The first step in starting a career in solar energy is to conduct thorough research. It’s important to know what type of job you’re interested in pursuing and what skills are required for that position. Opportunities in solar jobs are growing quickly, promising job security for those employed in the sector.
Global Opportunities and Specializations
Rather than staying stuck in the traditional office or lab environment, your solar energy career could see you travelling the globe, working with talented people from a range of backgrounds and cultures. Areas to land graduate roles include installation and maintenance, or research and development.