How India’s solar industry offers huge opportunities
India’s economy is among the fastest-growing in the world, and as the country’s population increases, so does the need for energy. With the scope to harness the solar energy, India has huge potential to avoid imports and generate its own electricity, making the necessity for clean and renewable energy more pressing than ever. About 5,000 trillion kWh per year energy is generated over India’s land area, with most parts receiving 4-7 kWh per square meter per day
Overview of the Solar Industry in India
India is the perfect place to generate solar electricity because it receives an abundance of sunlight all year round. To address the nation’s expanding energy needs, the Indian government has been encouraging the use of solar energy. Because of this, the solar business has experienced remarkable growth in recent years. As of June 30, 2023, the nation’s solar power capacity had grown from 2.6 GW in 2014 to more than 70 GW, or precisely 70,096 MW. There has been a visible impact of solar energy in the Indian energy scenario during the last few years. Solar energy-based decentralized and distributed applications have benefited millions of people in Indian villages by meeting their cooking, lighting, and other energy needs in an environment friendly manner. The social and economic benefits include a reduction in drudgery among rural women and girls engaged in the collection of fuel wood from long distances and cooking in smoky kitchens, minimization of the risks of contracting lung and eye ailments, employment generation at village level, and ultimately, improvement in the standard of living and creation of opportunity for economic activities at village level. Further, solar energy sector in India has emerged as a significant player in grid-connected power generation capacity over the years. It supports the government’s agenda of sustainable growth while emerging as an integral part of the solution to meet the nation’s energy needs and an essential player for energy security. (Source: Central Minister for New and Renewable Energy and Power)
Solar Business Opportunities in India
Entrepreneurs can investigate a number of solar business opportunities in India. Below are a handful of the more auspicious options:
Solar Power Generation
Solar power generation is one of India’s biggest solar business potentials. The Solar PV Modules converts energy from the Sun into power, this solar energy generated by Solar Panels are then converted from Direct Current (DC) to Alternate Current (AC) by Solar Inverters before it feeds our House, School, College, Hospitals, Industries, commercial buildings.
By 2030, the government wants to have produced 500 GW of solar energy. The number of solar power plants being built across the nation has increased as a result. By building new solar power facilities or making investments in already-existing ones, entrepreneurs might investigate this prospect.
Solar Product Distribution
There is always a great demand for traders to sell finished items. The same holds true for solar-related goods. In India, launching a solar energy distribution firm could present a lucrative economic opportunity. Once you have located a trustworthy local manufacturer of solar products, the next step is to locate distributors. After that, you can begin trading and earning income. Using an IEC (Import Export Code) number, you can begin importing goods from other countries and selling them in your area.
Solar EPC Services
For solar power projects to be established, Engineering, Procurement, and Construction (EPC) services are necessary. For the installation of solar power plants, EPC companies offer turnkey solutions that include design, engineering, the purchase of solar panels and other equipment, and construction. There is a potential business opportunity as the number of solar power plants in India rises and so does the need for EPC services.
Solar Education and Training
The market for solar energy is expanding, and this has led to a need for qualified experts with knowledge of solar energy technologies, installation, and maintenance. This include creating curricula, running instructional courses, and offering technical assistance.
Become a Dealer Partner with Power & Sun
Powernsun is a 10 years old company that was established in 2013. Powernsun group specializes in selling solar components in Southeast Asia, the Middle East, Africa, and Europe. We cater to the residential, industrial, and commercial sectors as a one-stop solar shop.
Powernsun India is a master distributor and stockist across India of a wide variety of imported solar panels, solar inverters, solar cables, connectors and more from global brands like JA Solar, LONGi Solar, Sofar Solar, Solplanet, INVT Solar etc. The company supplies solar panels, on-grid, off-grid, and hybrid residential and C&I solar inverters across India. Being innovative, youthful, vibrant, and possessing a well-balanced combination of originality makes us one of the top solar enterprises in India.
Solar Cleaning and Maintenance Services
You only need a little cash to get started. The funds will be used for personnel management and efficient cleaning products. Unclean solar panels will not function properly. Your cleaning company can also offer maintenance services if any of your staff members are technically skilled in panel repair.
Conclusion India offers a wide range of solar business options for entrepreneurs looking to take advantage of this expanding market. There has been a notable increase in the quantity of solar power plants being established nationwide due to the government’s emphasis on augmenting the nation’s solar power potential. Additionally, solar energy consulting, solar water heating, solar street lighting, solar home lighting systems, solar water pumping, and solar panel manufacturing are all viable options for entrepreneurs. Entrepreneurs must, however, also be conscious of the difficulties, which include a lack of capital, a shortage of skilled personnel, and ambiguous government regulations.
