How to Start a Solar Energy Business in Nigeria (FREE BUSINESS PLAN)
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This article comes with a free business plan for a Solar Energy business in Nigeria.
This business is a direct solution to one of the hovering and lingering problems in this country, the inadequacy or lack of constant power supply in Nigeria is still a major issue and this hinders a lot of things, it even contributes to the slow industrialization problem of this country and also to our disposition towards technology, it is also the cause of some trivial issues like carrying out normal day to day activities. The lack of electricity has left a mark on every Nigerian, this is undebatable.
IS SOLAR ENERGY BUSINESS PROFITABLE?
The solar energy business is a viable business, businesses and households spend huge amounts of money on petrol and diesel to power their generator sets for their day to day activities. This is enough reason for many to seek an alternative lasting solution to power issues, hence solar energy takes the cue, and providing affordable solar energy services is definitely a sure way to make bank.
Solar energy is a great alternative to burning petrol and diesel as it saves the environment from pollution, noise, and air, asides its money-saving perk, an eco-friendly energy source. If you are considering starting a solar energy business in Nigeria, you are taking a step in the right direction but you must also know that the solar energy business is capital intensive.
How to Start Solar Energy Business in Nigeria
Step One – Register Your Business
This is undebatable, registering your business has a lot of perks asides it being a legal process, as it is the ﬁrst step to structuring your business is to register it with the Corporate Affairs Commission (CAC), It creates a feeling of trust in your consumers and ascertains the credibility of your enterprise to an extent
Also registration with relevant government ministries or agencies in the solar energy business to avoid any form of business interruption or court action is strongly advised.
Step Two – Choose A Niche
When starting a solar energy business, you can start in four ways:
a. Sell Solar Product to Customers
Partnering with some companies that manufacture solar products is all you need to do if this niche is your option, the catch of this business is that you really don’t need a huge capital for this, it’s like the non-capital intensive part of the solar business. You can always strike a deal with manufacturing companies, bargain prices with them, and get the products to your customers at a markup, then make your profit off the deal.
Materials you will be selling will include;
- Solar Panels
- b. Be an Installer of Solar Products
Being an installer can rake in cash for you, not all of the dealers of solar materials or companies provide installation and maintenance services. So anyone purchasing an inverter will need to get a handyman that will get the gismo to start running and get the lights on!
This niche involves good electrical and electronic knowledge. And what you really need to do is strike a deal with solar materials sellers so they can always refer buyers of solar materials to you when they get a sale and the customers may be in need to get the job done.
c. Be A Solar Energy Product Manufacturer
This is the most technical aspect of this business and it requires huge capital, training, and licenses to begin. There are legislations regulating solar power business in Nigeria that you must be familiar with.
Some of this legislation include:
The Companies Allied Matters Act (CAMA), 2004 The Companies Regulations, 2012 Nigerian Electricity Regulation Commission’s Regulations for the Application for License (Generation, Transmission, System Operations, Distribution & Trading), 2010 Electric Power Sector Reform Act, 2005
Step Three – Draft A Business Plan for Your Solar Energy Business
Draft a business plan once you are certain about your niche. A business plan sets out your business’s future objectives and strategies laid out to achieve them.
Step Four – Market Your Solar Energy Business
This is the most integral part of all the steps as it is a direct reflection of success, doing this step well guarantees success to an extent.
Ways to get your business out there so you can meet with potential customers include:
- Word of mouth
- Referral marketing
- Social media inﬂuencer marketing
- Google ads
- Collaboration and partnership
The solar energy business is proﬁtable if you know how to navigate your way around the business.
How To Download This Solar Energy Business Plan Template
Above is a part of the solar energy installation business plan. To get the complete business plan delivered to you in 24 hours;
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Name: Oyewole Abidemi (I am putting my name and not our company account so you know I am real and you can trust me, and trace me)
P.S: We can also tailor the solar energy business plan template to your name, business size, capital requirements, and more to fit your direct needs. Call or message +234 701 754 2853 for enquiries
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the Complete solar energy installation business plan in Nigeria to your email address where you can easily download it.