As a result of ongoing power outages and the accessibility of relatively inexpensive solar energy resources, solar installation is currently a lucrative business in Nigeria. In addition, the solar installation business is booming due to Nigeria’s climate change.
Many households are now adding solar panels and inverters only to keep their homes cool, especially during the day, due to the relentless heat throughout the dry season. Electricity is not always required for solar energy to operate continuously.
Before I start talking about how to start a solar installation business, there is more to solar installation than placing the panels up. There is general contracting, roofing, metal fabrication, sales, repair and maintenance, consultation, and so much more. Find a niche in your market and set yourself apart as the industry expert.
This is another factor contributing to the fact that many Nigerians are increasingly choosing it to satisfy their electrical needs. Given the current state of Nigeria’s electricity supply, now will be the ideal time for you to start a solar installation business.
In this article, you will learn how to start a solar installation business in Nigeria. I will also be letting you see if the solar installation business is profitable and if a huge capital is needed.
What Is Solar Energy?
Solar energy refers to the energy that comes from the sun. This energy can be harnessed and used for various purposes, such as generating electricity, heating buildings, and powering vehicles. Solar power is a clean, renewable energy source that does not produce greenhouse gas emissions or other pollutants. One thing I like is that it is a renewable source of energy.
Solar installation refers to setting up and connecting a solar power system to a building or other structure to generate electricity from the sun. This typically involves installing solar panels on the roof or other areas of the building that receive direct sunlight, as well as connecting the panels to an inverter, which converts the direct current (DC) electricity produced by the panels into alternating current (AC) electricity that can be used by the building or sent back to the power grid.
Other components that may be included in a solar installation include a battery system for storing energy, a monitoring system to track the system’s performance, and various electrical components such as wiring and circuit breakers. Solar installation is done by a company or contractor who designs and oversees the installation process.
Solar installation business in Nigeria
A solar installation business is a Nigeria-based company that specializes in designing, installing, and maintaining solar power systems for residential and commercial customers. These businesses typically offer a range of services, including site assessments to determine the feasibility and potential output of a solar installation, design, and engineering services to plan and size the system. Installation and maintenance services to ensure that the system is operating at optimal efficiency.
Read also: 11 Effective Marketing Strategies for Entrepreneurs in Nigeria
These businesses generally earn revenue through the sale of equipment, installation, and maintenance services, as well as through long-term agreements with customers to purchase the electricity generated by solar panels.
Some solar installation businesses also provide other related services like monitoring, repair, and maintenance, which can provide additional revenue streams.
Having said all that you might want to ask;
Is the solar installation business profitable in Nigeria?
When it comes to the solar installation business in Nigeria, it is evident that the business is doing well in Nigeria and generating much profit for the solar business owners.
With the issue of power outages and increases in fuel prices in Nigeria, people are shifting to solar power, and this is giving the solar installation business in Nigeria the opportunity to gain more ground and make more profits. Incredibly, high-income and middle-income earners in Nigeria are seriously demanding solar installation in their houses, offices, and so on.
Read also: 5 ways to raise capital for businesses in Nigeria
Money required to start a solar installation business in Nigeria
Now after you have passed through and completed solar installation training and are skillful, you are good to go. The primary solar installation materials, like panels, inverters, batteries, controllers, breakers, wires, etc., can be procured by your customers. Solar installation is a service business; once you are good at it, you can render your service anywhere.
There is little money to start your solar installation business in Nigeria. You can start with the little that you have so far the skill has been acquired. The money you need at the beginning of the business is the money you will use to buy your solar installation tools and register your business.
Tips on How to Start a Solar Installation Business In Nigeria
These are some tips that will help you to start a solar installation business in Nigeria.
Learn solar installations first
Like other works, solar installation is a handwork business; if you want to go into the solar installation business in Nigeria, you must go for training and become an apprentice.
There are a lot of things you will learn that will help you in setting your business up. During the training, you will learn every necessary thing about solar installation. Everything you need to know about solar installation will be achieved during your learning period. This will help you to know the suitable materials to use when it’s come to solar installation.
It is essential to train before starting your solar installation business in Nigeria; at the end of the training, you will be issued a certificate to back you up for the skill you’ve acquired. At this point, you can become a professional.
Write a good solar installation business plan
To avoid some risks, you must plan before venturing into Nigeria’s solar installation business. Any unplanned business will fail; whoever fails to plan is planning to fail.
A business plan will give you direction to operate your solar installation business in Nigeria accordingly. Don’t bypass this fact; it will help your business succeed and guide you on how to run your business effectively without wasting resources. Don’t go to solar business installation blindly; prepare yourself and the business before you start.
Get your required capital to start
In any business, capital is required, except if you are already financially buoyant. This will help you to be free from financial pressure that may affect you.
As I’ve said earlier, the solar installation business only requires a little money; your skill and competency matter most. Nevertheless, money is essential in this business to smooth the journey.
You need money to successfully start your solar installation business in Nigeria; this money will cover some aspects of the business, like buying solar installation tools, getting office space or workshop, doing business registration for your company, and engaging in business promotion.
Register your solar installation business with CAC (Corporate Affairs Commission)
This number three tip is essential for serious business owners in Nigeria, as it is important to register their businesses with the Government. You can only have a genuine business or company when you register it with the Government because of the benefits it entails.
When you register your solar installation business with the corporate affairs commission, your business or company name is secured, and nobody can claim your business name again. You will look professional and recognized, it will ensure your business is treated as a separate entity, and your business can win government contracts if registered.
To register your solar installation business with CAC, you will need the business name, business address, nature of your business, business owner details, and so on.
Read also: Legal Requirements to Start a Business in Nigeria
Promoting your solar installation business
Promotion is essential when it comes to business; you are also making yourself aware of what you are doing when promoting your solar installation business. I’ve said earlier that the solar installation business in Nigeria is a service; aside from promoting solar installation, changing the solar batteries, solar panels replacement, solar inverter replacement, and some other things that attach to your service should be included while promoting your solar installation business. You can go digital or offline to promote your business.
You can run online ads like Facebook ads, Instagram ads, Google ads, and more on social networks to promote your solar installation services at cheaper amounts in Nigeria; you can do this, especially for the few years your solar installation business has existed.
Start rendering your solar installation services
You can now start rendering your services and showcasing your skills. Your customers don’t need to do the solar installation, but it is essential to know your customer wants and needs so that you can provide the absolute solution to their problems.
There are many services you can render in the solar installation business; for this reason, you have to be flexible. If you start your business with this, you will start having your way in the solar installation business and making money as soon as possible. As time goes on, you will start to enjoy referrers from your clients because of the trust they have in you, and your customer will increase with more patronage even from the companies.
Profits making in solar installation business in Nigeria
Making profits from the solar installation business in Nigeria is relatively easy; everybody needs light to power their houses and offices. When you build your customer base fast, it will help you to start generating profits. So, to start making money in Nigeria’s solar installation business, recognize the customers most suitable for your solar installation business. That is, you must know your target customers who can afford your services, which are high-income and middle-income earners.
Another way to increase your profits in your solar business is to diversify your business; I’ve mentioned some services attached to the solar installation business in this article. You can also increase your profits in the solar installation business by partnering with other solar companies that have big projects at hand.
As of today, Nigerians are facing severe challenges with electricity and fuel. The electricity tariff has increased without supplying power to the consumers, and fuel prices have gone up; it is now difficult for people using the generator to power their houses, office, and business to afford the required liter of fuel per day.
The need for clean energy, known as solar power in Nigeria, should be emphasized. As long as there is a power outage in the country, you will continue to make money from the solar installation business in Nigeria. The business is not hard to learn, and the capital to start this lucrative business is small.
You can also learn more about this topic by visiting our WhatsApp community. Subscribe to our YouTube channel for more actionable tips on business growth and development.
Now, I hope you have learnt something? I guess yes!
- Olufemi Taiwo is an experienced content writer, highly skilled in researching, writing, and publishing compelling content. A creative and results-oriented writer adept in driving the production of meaningful content for various media platforms and clients. He specializes in writing blog posts, articles, and social media posts for blogs and websites.
Waaaawu, 👍 this is a job Weldon, it’s a very nice and easy to comprehend write up, we looking forward to read more from you sir. 💕
What an insightful article from a young and resourceful entrepreneur. This article will no thought transform lives positively.
This is insightful…easy to digest. You’re doing well sir