Solar Power Installation Business

By 2022 over 17 gw of solar photovoltaic panels will be installed annually.

Solar power installation business. Therefore offering repair and maintenance service is a lucrative business to start in the solar. After the installation of the solar project it demands regular maintenance check and repair. That said offering solar pv installation is an excellent place to begin your new business. For instance the state of california is planning to mandate newly built residential homes to install solar panels to increase the number of solar panel users in the state.

Solar panels are used to power different kinds of electronic equipment from solar powered handheld calculators that will function as long as sunlight is available to remote solar powered sensor arrays in buoys and even some experimental vehicles and boats. The federal investment tax credit itc for solar is equal to 30 of the amount invested in an eligible installation e g if you invest 100 000 in solar you could receive a 30 000 tax credit. California is planning to pass this mandate in 2020 and it s projected to drive an 11 000 12 000 solar panel installation demand starting this 2019. Possible challenges and threats of starting a solar panel installation business.

However the itc rate will decrease to 26 in 2020 22 in 2021 and 10 after 2021. 10 most profitable oil and gas business ideas 5. The wiring and installation your solar panel contractor and electrician the system the panels the energy storage device your local electric company.