How to Establish Your Own Business In The Solar Industry
Solar energy is a renewable resource, unlike fossil fuels. The Solar Energy Industries Association notes that there is a need for increased solar energy production in the U.S. to lower the cost of solar energy and make it more accessible to consumers. As new ways of harnessing solar energy are developed, so do ways to enter the solar energy industry and become a "green" entrepreneur. Solar energy can be used to heat and cool structures, as well as to provide electricity.
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Instructions
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Instructions
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Research existing solar businesses. The Solar Energy Industries Association explains on its website that there are several kinds of solar products and technologies that can serve as the basis for a solar energy business. Photovoltaics, or solar energy, can power a building's lights and other electrical devices. Solar heating and cooling systems can be used in residential and commercial structures. A concentrating solar power plant uses mirrors to produce energy. There is a need for the passive solar materials that builders use in a structure to store the sun's heat and release it as needed. Solar ovens work like crockpots to cook food.
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Write a business plan. Your business plan will detail what kind of business you want to start, as well as your short- and long-term goals for your solar energy business. A successful business plan explains your marketing strategy and provides an analysis of your competitors. It also lets potential investors know how much money you need for your solar energy business and exactly how those funds would be used. Organizations such as the Small Business Administration can help you prepare a business plan.
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Determine your funding sources. If you are considering a loan to start your solar energy business, talk to a representative at your bank or credit union. An organization such as the Solar Electric Power Association can help you locate potential investors via its personalized research service. You may opt to apply for a grant, or obtain funding from a venture capital firm.
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Purchase the necessary materials for your solar business. These could include solar panels, turbines or solar ovens. You can contact solar vendors through the Solar Electric Power Association's organization directory, which also serves as a networking tool for solar entrepreneurs.
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Contact the appropriate licensing agency in your city or state. All businesses need to be licensed, and a solar energy business is no exception. Your city's zoning office or licensing office is an ideal source of information.
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Tips & Warnings
Join a solar energy association, so that you can access information such as webinars and the latest solar news.
References
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