This trend, combined with advances in home energy storage, means that solar panel installation is more viable than ever. Given this, it’s as good a time as it ever has been to start up a company that installs solar panels.
Growing Sector
We see these shrinking costs reflected in increased demand for solar panels. In 2008, solar panels generated around a megawatt of electricity in England; in 2020, the figure was 11,730.
Just over a million homes in the UK have solar panel installations, which amounts to around 4% of the total homes in the UK. This means there’s still significant scope for growth. It takes the average home around 11 years to break even on the investment – which, given that the lifespan of the panels tends to be 25 years at the least, makes for an increasingly attractive proposition.
It’s also worth factoring in the cost of batteries, which has also declined significantly over the last few decades. If these trends continue, we might well arrive at a future where most homes generate and store the majority of the energy they use throughout a given year.
How to start the business
Every successful business starts with a well-thought-out business plan. In this case, you’ll want to consider exactly who your customer base is, and how you’ll appeal to them. You’ll need to be accredited as a solar panel installer, which might mean training through other companies, or by going to college.
To demonstrate to your customers that you have the appropriate skills and experience, it’s worth getting yourself accredited with MCS, and becoming a member of a Trading Standards Institute.
Before you can trade, you’ll need to legally register your business, decide on a structure, and invest in the right insurance. Public liability insurance is a bare minimum, but you may wish to go further.
Grow your business
In this line of work, the most effective form of marketing is word of mouth. To successfully grow your business, you’ll therefore need to do the job well enough for your customers to spread to word to their friends and family.
An online presence might also make it much easier to make people aware of you and what you do. You can use the right social media platform to show off your successful installations, and to get your would-be customers looking at, and thinking about, your handiwork.
