How to get into the Solar Energy Business in Rajasthan?

As per the latest global survey, India is the fifth-largest producer of solar energy in the world. At the same time, Rajasthan is the third-largest state to produce solar power in India. The opportunities for solar energy-related projects and businesses are immense in Rajasthan.

Are you looking for a detailed and well-researched plan on how to start a solar power business in Rajasthan? Then read the blog to know the possible nooks and crannies involved in the business.

Step-by-step Approach to Get into the Solar Energy Business in Rajasthan

Solar power is the best business in Rajasthan. To get into the solar energy business in Rajasthan and earn maximum profits within a couple of years, you must follow a detailed step-by-step approach to get into the business.

So, if you intend to start a solar power business in Rajasthan state, then refer to the comprehensive set of steps mentioned to get into the solar energy venture:

1. Performing a Market Research

With Rajasthan being amongst the top three solar energy producer states, it is vital to conduct thorough market research to set up a solar energy business. For instance, if you want to start selling solar energy-related products in Rajasthan, you should search for the cities in Rajasthan that have the maximum potential to generate solar power. Those cities will have a high demand and scope of selling the solar power products such as solar panels, solar chargers, solar lights, solar operated fans, solar pumps, and more.

2. Searching for the Apt Solar Power Business Niche

Once you have carried out comprehensive market research, you must have insight into the trends, demands, and investment rate required to get into the solar energy business in Rajasthan. So, based on your assessment, select the most appropriate solar power business niche or category available in the marketplace.

To assist you in choosing the apt business niche, we have enlisted some of the most profitable and demanded solar power business niches:

• Generating Solar Energy via Solar Plants
• Manufacturing Solar Power Products
• Trading Solar Power Products as A Retailer or Distributor
• Funding the Ongoing Solar Power Projects in Rajasthan
• Launching the Solar Power Plants or Solar Products Maintenance Services

3. Defining Budget and Assigning the Rate of Investment

After selecting the solar power business niche, you should plan out your expenses rates and funding rates. Assess the information gathered from the market research, define a budget for your business, and allocate the investment rate in different sections or the prerequisites.

For instance, if you have assigned a budget of 5,00,000 INR to start a manufacturing solar products business, it would be best if you plan how you will allot much percentage of your budget to purchase the required machinery, resources, and so on. This step will assist you to calculatingly manage your expense without flashing a show stopper requirement at the business launch time.

4. Exploring the Best Government Solar Subsidy Plan in Rajasthan

Did you know that the Central and the State Government of India promotes several SMEs and MBEs to launch solar power projects in India via several grid-connected and solar off-grid schemes? Many subsidies and schemes are launched continually in Rajasthan to support the SMEs and MBEs of solar power ventures.

For instance, if you are looking forward to setting up a solar rooftop installation business, you should explore the Rajasthan government's subsidy. Up to 40% of subsidy is allotted to rooftop solar installations of up to 3KW. So, ensure that you have investigated all the schemes and subsidies offered by the Rajasthan government before starting the solar power business.

5. Picking up the Required Assets and Resources

After carrying out all the detailed research activities around the market, business niche, subsidy, and schemes related to the solar energy business, gather all the required resources and assets needed to start the business. Ensure that you list and collect all the essential resources such as information about pieces of machinery, various types of workforces, raw material suppliers and vendors details, and others from the trusted supplier and vendors.

6. Seeking for the Apt Location to Start the Solar Power Business in Rajasthan

Once you have defined the solar energy business niche and have allocated the budget for different resources and assets required to get started with the solar energy business, the next step is to hunt for the apt village, city, or town to set up the solar energy business. For example, if you aspire to set up a solar power plant, you must search for solar-friendly villages to generate solar energy and sell it to corporations.

Did you know that Bhadla Solar Park, located in Bhadla village, Jaisalmer, is the worlds' largest solar power plant? The village is known for its solar-friendly temperature, so if you are looking forward to starting the solar energy plant, Bhadla village will be the best-suited option. Likewise, based on your investment rate and interest, you should search for a solar energy-friendly village, town, or city in Rajasthan to set up a profitable solar business.

7. Setting up the Solar Energy Business

Once you have all the required assets, the next step would be setting up the solar energy business in the selected city or village in Rajasthan. Ensure that you use local villagers or technicians to carry out various operations while setting up the business. It will help you accelerate the duration and help you better know the local resources available in the villages or towns at a nominal rate.

Make sure that you hire local technicians, workers, helpers, or salespeople to promote, sell, and manage various services offered by your business. It will also help you connect with the locals easily, promote your products or services, and generate leads to approach a more extensive domain of audience to prevail over the services and products offered by your solar power venture.

Bottom Line            

After checking out the detailed article above, you must be aware of the ins and outs of the scope and profitability of the solar energy business in Rajasthan. Subsequently, plan a detailed solar energy business route and gather all the required requisites to enter the Rajasthan solar panel business or solar energy business and get the maximum benefits of the opportunities available in the solar energy business in India.

Also Read:

1) How to start a business of eco-friendly & organic cleaning products?
2) How To Start An E-waste Recycling Business?
3) How Can Stock Summary Reports Optimise Inventory Management?
4) How Safe and Secure is Online Software?

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FAQs

Q. How to start a solar panel business?

Ans. You can start the solar panel business by following a structured approach and standards steps. Enlisted are some of the essential steps that will be required to start the solar panel business:

• Performing marketing study research.
• Designing a structured solar panel business plan keeping all the aspects of the market needs handy.
• Seeking legal permissions from the local and state legal authorities in India to set up the solar power business.
• Purchasing apt insurance policies for the solar panel business to create a backup for any accidental incidents.

Q. What are the mandatory prerequisites to keep in mind while drafting a solar panel business plan?

Ans. While drafting a solar panel business plan, you should keep the following aspects into account:

• Rate of Investment
• List of legal documents required to get started with the business
• Trust-worthy vendors contact list for purchasing the assets and resources necessary
• Hiring adept and experienced workforce to install, maintain, and repair solar panel when required