Of all the available and clean renewable energy sources, solar is quite good. As much as global warming is leading to some undesirable consequences it has led to generally warmer climates in most parts of the world. The incidence of predominantly clear and sunny days is now high in many places. To top it off the intensity of the sun heat has also spiked significantly. This can only mean one thing must be done to tap into all that – starting solar-based businesses. Solar energy when harnessed intently can power up whole towns or even significant portions of a country. In this article we get to discuss some of the businesses you can start in this solar arena.
Most nations are struggling to produce enough power for their populations. Some still mainly rely on energy sources such as coal and water. There’s a lot of money that can be made from investing into a solar farm. This can be a somewhat costly type of business to roll out but the returns can be immense. If you can acquire or if you have a sufficiently large and open field with a suitable terrain then a solar farm can be a great idea. If it’s large enough you can end up supplying your power supply to the main electricity grid. You can exclusively focus on supplying a town or even just a neighbourhood. Truth be told just like agricultural farms there’s a marked need for more solar farms to be setup. This is a very profitable solar energy business idea.
As always this is a universal business idea that applies to any field. Create, curate and propagate solar-based content through several methodologies such as blogs, vlogs or podcasts, for example. Keep it at it and build a huge following and promote high engagement rates and before you know it you’ll be making sustainable income through ad placements. This is a unique solar energy business idea which you can start today.
Solar Equipment And Accessories
Obviously due to power costs and scarcity in most parts of the world people are taking up the solar energy alternative. You can then build a business that specialises in the sourcing and retail of solar equipment and accessories. In most countries such items have to be imported so you can make money from doing retail. Alternatively you can establish a manufacturing business where you manufacture such items instead of importing them. Of course the startup costs to build a factory can be steep but once in motion the startup funds can be recouped and steady profits can be made. Come to think of it if such items can be made locally instead of being imported they can be priced in such a way that most people can afford them. This a highly lucrative solar business opportunity.
Solar-Powered Water Heater Services
Generally people are now more conscious about the need to save power. It can either stem from how expensive power can be or its general inadequate availability. Regardless people still need to use hot water for various uses such as bathing. To take advantage of that you can start a business that specializes on solar-powered water heaters. Many households and accommodation service providers can’t do without hot water and would thus need such water heaters. You can source, sell and also provide installation and after-sell support services.
Solar-Powered Water Pumps
The same goes for solar-powered water pumps. Focusing on natural rainfall is no longer a wise idea when doing agricultural activities. That’s why irrigation is now a much sought-after method nowadays. Even aside from agriculture there are water shortages all across the world. Some of the challenges concern poor infrastructure or power shortage amongst other things. To capitalize on that one can establish a business that sources, sells and provides support services for solar-powered water pumps.
Repairs And Maintenance
Just like most technical fields, the field of solar energy and all the related systems and equipment entails wear, tear and faults. A whole business can be developed to provide repair and maintenance services for the various types of solar equipment, accessories and systems.
So here’s the thing, the solar industry is growing the world over. The industry is growing so much that it’s now getting to be like the housing industry or the motor industry. That means it becomes necessary to have insurance policies for solar equipment and solar systems. This is a potentially lucrative business venture because those who can start now will be breaking fallow ground. The principles of insurance employed in other industries can still apply in this domain.
The usual narrative aired regarding solar energy initiatives is how expensive they’re. Yet despite the possible expenses the returns on investments are quite high. There are many solar projects in many countries that haven’t taken off due to lack of funding. If you’re someone with significant amounts of money then you might consider a business investing in solar projects. Of course one would have to ensure they’re investing after diligent assessments but the returns can be tremendous.
Solar businesses are more like green businesses because they contribute positively to the environment. That is why it is highly recommendable to start such businesses because they usually have a ready pool of financiers and governmental support mechanisms. You’ll not only be making money but you’ll also be giving back to the community by keeping the environment untainted. Solar energy can be the single most potent solution to energy problems for most countries so people must enter this space and governments must put in place favourable policies in place.