Solar Power Business in 2022
The solar industry is growing rapidly and the sun is only beginning to shine. In 2020, solar power was the most popular new renewable energy in terms of capacity. This makes it the cornerstone of the emerging renewable energy market. Since at least 2010, solar power has consistently been the first or second largest source of new energy capacity in the United States.
Solar installers are also among the most rapidly-growing occupations in America. This exciting trade will see a 52 percent growth rate in 2019-2029 and a median annual income of $44,890. It offers contractors a great opportunity to get started. This post will explain what it takes for you to start your own business in solar energy.
How to Start a Solar Business
There are many aspects to solar installation beyond just installing panels. These include general contracting, roofing and metal fabrication, consulting, repairs and maintenance, landscaping design, and much more. You can be the expert in your field by finding a niche that isn’t already saturated. By doing the legwork, you should find reputable solar installation companies in Nevada, and get inspiration from them.
How to Get Started
Expertise is more than just knowing your product. This requires you to be aware of all rebates and incentives that are available. It is a key differentiator for companies who want to stand out from the rest. Companies that research their customers to save time and money will get the contracts.
You don't need to be a roofer or installer to start a solar company. There are many businesses that specialize in sales.
These companies handle all aspects of selling solar systems, including obtaining leads, qualifying them, and conducting in-home or virtual consultations to get the customer to sign. These companies then work with contractors to complete the rest of the installation process.
The market is saturated with solar installer companies near me. It might be helpful to learn the basics of roofing before you start thinking about how to set up a solar installation company. You might consider solar installation if you are a roofer.
It is becoming increasingly common for the solar and roofing industries to merge. The lifespans of solar panels and roofs are roughly the same (approximately 25 years), so smart roofers are realizing how to install both a new roof and a solar system simultaneously. You can be a roofing contractor or a solar installer. There's plenty of overlap and many untapped markets for roofing and solar.
Who is the target audience?
The latest solar technologies mean that solar energy is now easily accessible to all homeowners with clear roof lines. Some homeowners associations collaborate to create whole neighborhoods of solar installations. Both small and large companies are adding solar power to their energy systems and may be open to investing in rooftop or field farms.
How does a solar business make money from its panels?
No matter if you are a franchisee or wholesaler, the success of installing solar panels can help your business make money. Lease programs that charge customers monthly for their panels and extra power from the grid can provide regular income. A customer would pay a retail rate upfront to have their panels installed and for the labor necessary to connect them to the power grid.
How much can you charge your customers?
A residential installation may cost from $15,000 to $50,000 depending on its size and the type of panels. The monthly cost of a lease with zero down payment is $25 to $200, depending on the type and size of the installation.