Why Solar Products Distributorship is a Lucrative Business Opportunity
With the increased use of distributed solar power products and installation of solar panels, the solar industry is all set to witness high revenue in the coming years.
Solar panels and solar products are used to convert light from the sun into electricity that can be used to power electrical loads. Solar panels are used for a wide variety of applications such as remote power systems, telecommunications equipment, remote sensing, production of electricity for commercial and residential use and many more. The biggest advantage that attracts users to buy these products is that they provide pollution-free energy and helps the economy in achieving sustainable development.
As these panels are being used domestically as well as commercially and are going to be the future of the renewable energy industry in India. In a recently published report, it has been revealed that India has set targets for itself to achieve 100 GW of solar power by 2022. The manufacturing and distribution of these products are the quintessential elements in order to achieve the targets, thereby opening a room full of opportunities.
Why Solar Products Distributorship is an Opportunity
In terms of manufacturing of solar equipment, a handful of big companies like Tata Power Solar Power Products and Vikram Solar Limited dominate the market in India. However, a lot of smaller players are also emerging in the industry and are seeking distributors to expand their reach throughout India.
It is important to understand the fact that only manufacturing of such products will not work until and unless the effective supply chain is not developed. For instance, connectivity in remote areas where developing transmission infrastructure is a great deal, so companies can reach out to such areas by employing dealers and distributors in such area.
Becoming a Solar Products Distributor
As per recent reports, the market for distributed solar power products in India is set to grow more than two-and-a-half times to Rs 10,117 crore by 2023, which includes solar lanterns, solar pump sets and other home appliances. With such a vibrant market, solar products distribution becomes a necessity for the manufacturers.
People are realizing the importance of electricity saving and are switching to sustainable energy consumption to make a better world ahead. This is one of the biggest reasons why solar products and equipments are the need of the hour. Products like solar water heater, solar cooker, solar battery charger, solar lanterns etc are some of the products that can be used by general public in day to day life but are not so easily available in the market. With more and more distributors in the country, manufacturers can reach the end-users more efficiently and can earn greater returns on investments.
Buying a distributorship of solar power products in India is an easy investment of a few lakhs. Here we bring to you basic information on the investment, space requirement, and annual sales in the solar products distributorship business.
Investment: Rs 5-10 Lakhs
Space Requirement: 500 sq ft
Annual Sales Expected: Rs 2-3 crores