How To Start A Lucrative Solar Energy Installation Business In Nigeria

Solar energy is a clean and renewable source of energy that generates electricity without releasing harmful pollutants, such as carbon dioxide, which contribute to climate change.

Solar energy has shown to be an excellent alternative to fuel and diesel, as well as saving the environment from generator noise pollution. If you are thinking of beginning a solar energy business in Nigeria, you are on the proper track. Daily, both enterprises and households spend money on fuel and diesel. As a result, many people are looking for a long-term solution to their power problems. You can tap into this sector because a lot of people need solutions to their problems, you just need the right tips.

The global solar power market size was valued at US$ 197.23 billion in 2021 and is expected to hit around US$ 368.63 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of seven point two percent (7.2%) during the forecast period 2021 to 2030. The growth of the Solar Energy Market is driven by an increase in environmental pollution and the provision of state incentives & tax rebates to put in solar panels.

Nigeria is situated in Sub-Saharan Africa, a region described by the International Council for Science as having the “world’s best solar resources.” Nigeria has 485.1 million MWh/day of solar energy in natural units, and she enjoys an average of 6.2 hours of daily sunshine, which makes it a lucrative market for potential investors.

In the course of finding your niche, extensive research is required and in most cases, you will need to decide here on getting a partner who has been in the business for a while if you are not an expert in the field. Some of the areas you can specialize in are; Solar Sales Business, Energy Consultant, Solar Manufacturing Business, Solar Parts Business, Solar Consultant, Solar Maintenance Business, Solar  Installation Business

The Solar Energy Installation Business in Nigeria and Africa is a rapidly growing industry with significant potential for growth and development. With supportive government policies, an abundance of solar energy resources, and a growing demand for renewable energy, the sector presents a significant opportunity for Nigerian businesses to drive economic growth and contribute to the sustainable development of the nation.

The interesting part of this business is that you don’t need to have a huge start-up capital to begin. The start-up capital required to start this business depends on the size of your business. However, with N500,000 – N100,000,000 naira you can kickstart the solar energy business. You can visit these companies, bargain prices with them, and begin advertising to your prospective customers. Once you get pictures of the equipment, you can post them across social media platforms and advertise them. As soon as your customers make a payment, you then place an order from the manufacturing company at an agreed specified price and sell at a profit.

Get An Office Space: Note that this step is not compulsory if you are starting small. But, if you are starting on a large scale, it’s best to get an office space where prospective customers can easily locate you. Preferably, acquire an office where electricity is scarce. Also, choose a location around people who can afford your equipment. Your office or shop space should also serve as a professional setting to conduct meetings with clients. This is where you discuss their solar energy needs, provide solutions, negotiate contracts, and address any concerns they may have. A well-designed and welcoming space will enhance client satisfaction and confidence in your business.

If you are an electrician or have experience connecting wires and the likes, this may be the best niche for you. All you need to do is to partner with sellers of solar energy products so that they can contact you whenever a customer buys from them and needs an installer. Actually, it is advisable that you combine these two niches (selling and installation) as it will generate more profit. If you sell solar energy equipment, you should endeavor to learn the nitty-gritty involved in installing it. That way, you will be able to offer full service to your customers.

How Much Does Business Solar Installation Cost: The total cost of a commercial installation will depend on the size of the project, your energy usage, and if you require solar batteries, etc.  Another factor that affects solar installation cost is the location of installation. Installation in remote areas would cost more when the cost of logistics is factored in.

Three important components that you will be selling are as follows:

1. Solar Panel – A device that absorbs the sun’s radiant energy is known as a solar panel.

2. Inverter – A device that stores energy in a battery for later use is known as an inverter.

3. Battery – Once the sun sets or the power source fails, the inverter automatically switches to the battery’s energy. The batteries are available in a range of capacities, including 50 ah, 100 ah, 200 ah, and so on.

Nigeria is one of the leading markets for solar energy in Africa, with a growing number of companies involved in the manufacture, distribution, and installation of solar panels and related equipment. The Nigerian government has recognized the potential of solar energy to drive economic growth and has implemented various policies to promote the development of the sector. In 2020, Nigeria recorded an installed capacity of 1,329MW of off-grid solar power. By 2023, Nigeria’s solar market had already reached a capacity of 2.7GW, with projections showing that it could reach 11.2GW by 2030.

Starting a solar business takes research, investment, time, and leadership. But, it can be worth the effort, providing a great career in a growing and fulfilling industry.

How to start a lucrative solar energy company. In this information, you will learn the best way to market and profit from the Solar Energy Sector. Most especially, you will learn the exact costs of the resources and equipment you need for your solar business. The body of this work is formed from consulting experienced and relevant people running the Solar Energy Business, to get first-hand information about the success secrets and marketing strategies deployed to achieve business success

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