To successfully launch a solar energy startup, you first need to discover the ins and outs of this business niche. Usually, people think they should just hire a solar panel installer and start offering professional services.
But your company should be able to inspect the place where the solar panel is to be installed, handle maintenance and repair, and be eCommerce-ready with a professional website that has an attractive homepage design.
Interesting Numbers and Stats
According to the Solar Foundation's statistics, in the fall of 2019, almost 250,000 Americans worked in the solar energy industry - in more than 10,000 companies in every U.S. state. As a result, the solar industry raised as much as $18.7 billion in investments in the American economy in 2019. From this, we can conclude that this niche is very profitable for investment.
An investment in solar energy can pay off in just a couple of years, which means that continued use of the panels will bring a net profit. Solar systems typically last 20 to 30 years. And if you combine the operation of panels with other energy-saving tools, for instance, with a commercial lighting control system, then the savings can even be much greater.
Main Steps to Start Solar Panel Installation Business in the U.S.
Let's take a look at the basic steps for starting a solar power business in America.
Buying a franchise or launching a new company?
As a newcomer to solar energy entrepreneurship, you must decide whether to become part of a proven franchise or start your own business from scratch. If you have chosen the path of building your own company, you will be able to make all decisions on your own and not depend on the established working processes of the franchisor. On the other hand, by becoming part of a franchise, you will get a number of advantages over self-employment, such as:
- a well-tried-and-tested business model;
- established brand awareness;
- financial assistance;
- minimum risks;
- existing clientele.
Define the leading solar tech trends
As you dive into the solar energy business, you need to understand the technology that stands behind the whole industry. Thus, solar technology allows you to use both light and heat. Currently, there are three major technological approaches to look out for:
- Photoelectric tech. This technology generates electricity that can be stored, used and, transferred;
- Solar heating. You can also generate heat for space heating and water heating from solar devices;
- Concentrated solar energy. With this approach, you can concentrate sunlight through lenses and mirrors to generate increased volumes of heat and electricity.
The franchise is like a business for beginners. You will be able to open a solar panels business with even the most basic business understanding. This will be a good school and start for your business. It is in your power and interest to develop your business further.
Here's what advantages you get:
- Becoming part of the franchise, you start working immediately under the promoted brand.
- Buying a franchise, you get comprehensive support from the copyright holder.
- The franchisee undergoes training, getting all the knowledge and capabilities necessary for running a business.
- The franchisee has an extensive client base developed by the company.
Preparing to launch
As soon as all the major items of your solar panel business plan are settled, you can prepare for the grand opening. For example, promote on popular network sites, offer discounts to the first customers, show the value that customers get from ordering your particular solar services.
Companies and people all around the world have long started to massively use solar energy because it is environmentally friendly and easy to maintain. Start your career as a solar contractor - there is no better time than now to take advantage of the colossal amount of opportunities the niche offers.