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Business Plan: Cheap Home Solar Energy
Business Plan: Cheap Home Solar Energy
■ The amount of sunlight that strikes the earth's surface in an hour and a half is enough to
handle the entire world's energy consumption for a full year. Solar technologies convert
sunlight into electrical energy either through photovoltaic (PV) panels or through
mirrors that concentrate solar radiation. This energy can be used to generate electricity
or be stored in batteries or thermal storage.
■
The solar business in India is growing at more than 3 times the pace. Many of the
resellers who initiated the engagement with Loom Solar as dealer have now upgraded to
distributor of their district and many who initiated their journey as influencers have now
taken the installer practice and have started earning more than double.
Why solar energy?
■ Renewable energy sources are here to stay as consumers become more aware of their
daily impact on the environment. Helping the environment can also be good business.
Starting a solar energy business could mean becoming a solar panel installer, a
distributor of solar products or a provider of many other types of solar energy services
and products. It will help in cleaning the environment and it is a eco-friendly source for
the environment.
■ Businesses and industry use solar technologies to diversify their energy sources,
improve efficiency, and save money. Energy developers and utilities use solar
photovoltaic and concentrating solar power technologies to produce electricity on a
massive scale to power cities and small towns.
Benefits of solar energy?
■ Whether you work with a franchise or wholesaler, your installation business makes
money through the successful installation of solar units. Some leasing programs
generate regular income by charging their customers a monthly bill, which includes the
cost of the panel installation and any extra power the customers are using from the grid.
Otherwise, the customer pays a retail rate upfront for their panels and appropriate labor
costs for connecting their panels to their home and the power grid.
How much can you charge customers?
■ A residential installation can be priced anywhere from 10,000 to 50,000, depending on
the size and type of panels installed.
■ Leases with a zero rupee down payment can run anywhere between 2000-3000 monthly
depending on the type of client and the size of the installation.
■ Payment can be made within 6-7 months
How can you make your business more profitable?
■ Your largest costs will be purchasing the panels from the distributor and your payroll.
You can control supply costs by purchasing large lots of panels and using them for
multiple jobs, lowering your per unit cost.
■ Another way to increase profits is to reach out to other solar panel contractors to offer
assistance as a sub-contractor. This way you can form strong professional relationships
in your area, and also take on larger projects than your team might otherwise come
across
How does a solar panel business make money?
■ Whether you work with a franchise or wholesaler, your installation business makes
money through the successful installation of solar units. Some leasing programs genrate
regular income by charging their customers a monthly bill, which includes the cost of
the panel installation and any extra power the customers are using from the grid.
Otherwise, the customer pays a retail rate upfront for their panels and appropriate labor
costs for connecting their panels to their home and the power grid.
How will you attract customer?
■ Ads
■ Hoardings on road
■ Discount relations
■ Free delivery
■ Installation payments