How to Make Money in Solar Business: Due to economic recession, high inflation, job scarcity, and other issues, people are facing a shortage of money to fulfill their needs. In such situations, starting their own business can be a smart decision.
Speaking specifically about one business, Solar Business is doing quite well in today’s date. By utilizing solar energy, people are creating a stable income source where they can earn between ₹50,000 to ₹1,00,000 per month by starting a business with a small investment.
6 Best Solar Business Ideas
So if you also want to start your own Solar Business, then this post is quite beneficial for you. In this, I will provide you with all kinds of information related to the solar business, such as which Solar Business Ideas you can pursue, what will be the Solar Business Plan, how much will be the Solar Business Cost, whether you should consider taking a Solar Business Franchise, what is the Profit Margin in the Solar business, and how much income you can generate every month, and so on.
1 Solar Product Distribution
- Business Starting Cost – 3 Lakh to Lakh
- Profit Margin – 20% to 30%
- Requirement – Valid GST Number
The meaning of Solar Product Distribution Business is to sell solar energy-related products to dealers, contractors, and other resellers. In this business, you promote a wide range of solar products, including solar panels, LED lights, solar batteries, inverters, solar water pumps, and more.
The initial investment for this business can range from approximately 3-5 lakh rupees. This includes the cost of stock, vehicles for distribution, salaries of employees involved in sales, and other expenses. However, the cost may vary in different locations.
Today, you can start a Solar Distributor Business by partnering with top Indian companies like Loomsolar, Tata Power, or Adani Green Energy and acquire a Solar Franchise. For more information, you can visit the provided link.
2 Solar Blogging & Influencing
- Business Starting Cost – ₹10000
- Monthly Profit – From ₹50,000 to lakhs
- Requirement – Only One Laptop & Internet Connection
If you have even a little interest in Solar Products, you can earn lakhs (hundreds of thousands) per month by creating a Solar Blog. Because there is currently not much competition in this niche and topic, your new blog can easily rank.
All you have to do is create the best blog posts on various topics related to solar that people search for. This will drive significant traffic to your blog, which you can monetize.
3 Solar Panel Installation
- Business Starting Cost – ₹50,000 to ₹1 lakh
- Profit Margin – 70% to 80%
- Requirement – Knowledge of Solar Installation
Slowly, solar energy is becoming the number one solution for all types of energy consumption. In such a scenario, the business of solar panel installation can be a great option for you.
To start a Solar Panel Installation Business, you should have practical knowledge of it, along with the requirement of installation tools for all types of panels. Additionally, you will need to invest in inventory, staff, and marketing.
Afterward, you can provide your services for solar panels, batteries, inverters, charge controllers, ACDB, and more. The average installation cost per 1 kW is around ₹7,000, which may vary in different locations. This allows you to derive a good margin from the business.
Related Post:- How to earn ₹1000 per day | How make money online in 2023
4 Solar Repairing & Maintenance
- Business Starting Cost – ₹50,000
- Profit Margin – 75%
- Requirement – Knowledge of Solar Installation
The Indian government has set a target to generate 40% of the total energy from non-petroleum fuels by 2030, which is why there is an increasing demand for electric vehicles and solar products. In such a scenario, a business focused on the maintenance and repairing of solar products can also generate good income.
For example, the lifespan of solar panels installed in homes is around 25 years, and they require cleaning and maintenance every 6 months to 1 year. With the practical and technical knowledge of solar products, you can start this business.
5 Solar Dealership Business
- Business Starting Cost – 3 Lakh to 5 Lakh
- Profit Margin – 25% to 35%
- Requirement – Valid GST Number
If you want to directly sell solar products to customers at a small level, you can start a solar dealership business. The best thing about this business is that it can be started with a small investment and from your own home.
For those who are unaware, let me explain the difference between dealership and distribution. A distributor sells solar products to dealers, contractors, and resellers at a higher level, while in a dealership, the dealer sells the products directly to customers.
If you wish, you can start your solar dealership business with just a registration fee of ₹1000 on Loomsolar.
6 Solar Consulting & Advisory Service
- Business Starting Cost – 5 Lakh
- Profit Margin – 30% से 50% तक
- Requirement – Knowledge of Everything About the Solar Business’
Solar Consulting and Advisory Services Business caters to customers who are interested in investing in solar energy projects or businesses. It involves providing services such as feasibility studies, project design, financial modeling, compliance with regulations, and risk management.
If you have specialized technical knowledge, you can easily start this business and achieve profit margins of up to 30-50% after reducing marketing expenses, office rent, and staff salaries.
Thank you! I hope you will find some valuable insights from my blog. My main objective is to provide information based on my capabilities and assist with questions. If you have any questions related to solar business or any other business, please feel free to ask in the comment box without hesitation.