Want to start a solar business? Here’s how to do it?

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)