Before we jump into understanding how is business of solar energy works in Nigeria, we just have to discuss what exactly the concept “solar energy” is all about.
We could understand it to mean capturing of energy that comes from the sun then it’s been converted to into electricity. That’s it in a simple term. At times, you will hear the term solar power to mean same thing as solar energy. So how does it work? There is a radiation that comes with it he sun’s energy. But it is Solar radiation that makes the production of solar electricity very much possible. Some books will try to present the meaning of solar energy in another format. So they say it is a radiant energy that comes from the sun. In other words, it’s an energy that is emitted by the sun. When the sun releases the radiation, it is then converted into electricity which can be used both by Private individuals and public sectors.
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The sun itself has some elements which makes it very possible for it to be converted to electricity and they: oxygen, nitrogen, carbon, iron and magnesium. The sun contains some other forms of elements called protons which can travel Millions of miles from the sun to earth in about 8.5 minutes. This we all may have a clue about.
For developing countries like ours, the need for solar energy has not equals. It is very vital and we have already seen it happening everywhere. Have you noticed that in most quarters of this country there actually nothing happening there in terms of electricity? And that’s where you come in as a business man. According experts, there ia a low supply of electricity in the country m infact according to report the average power supply in Nigeria is 3,851 MW. This is the poorest it can ever be by any country.
This also present a very healthy business market for you. We will discuss that later. Nigeria’s main sources of electricity are from the following: coal, hydro, oil and natural gas. As at last few years, Nigeria was the highest importer of generator. Do you know why? Your guess is as good as mine. Because of shortages of electricity supply been experienced by Nigerians. The irony of this is the fact that you still need to buy fuel to be able to fire your generator. The cost of fueling has increased and citizens are finding it hard to cope because of the economic stagnation in they have found themselves.
Before now, Nigeria was the second worst supplier of power but as at today they have become the first which makes us the worst. As at today, Nigeria’s installed electricity capacity is 12,522MW, below the current demand of 98,000MW.
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Actually the total output is about 3,800MW, which have resulted in a demand short fall of 94,500MW throughout the country.The disadvantage of this is that it has made 45% of the population to have access to electricity, leaving the other 55% short of electricity supply. This is a direct consequences of the short fall of the supply of energy in Nigeria.
Some of the reasons we have experienced some downturn in business in our nation is due to poor power supply. The reason is that many people buy fuel and generator for their business and this have greatly reduced profits. Because of this we don’t see lots of foreign businesses or foreign investors who wants to invest in our economy. For domestic matters, the shortage of electricity has caused some people not been able to do some domestic house chores like blending, cooking and also watching TV. Then there is also the part of washing clothes etc and other electronic in the home.
When solar energy was introduced into Nigeria it became a huge success knowing the peculiar power situation of Nigeria. This has become a source of eradication of the absence of electricity supply from the government. This kind of business is very lucrative because solar energy requires good sun supply for capturing and converting the radiation into power and guess what, we have that sun many many here in Nigeria. Another thing is that so many people are already opting for solar power but the demand is far higher than the supply and that’s where you as an investor comes in. Recently Mr Oteodola sold his oil company and decided to go into power.
This man knows what he is doing. With Solar energy, we won’t have to worry about Nigeria power supply at all. As at today, this solar Business ground is still much of a virgin because not so many people have been thinking in that line. Those who thinks it’s a waste, such people are the ones wasting their time because as far the power situation in Nigeria remains this way, we will ever need solar energy as an alternative. So if you ever think of going into this business, you will see counting Millions in no distance time.
Like I earlier said before now, Nigeria has a very high sun level which means the country is always hot which makes it very easy for the solar energy to capture radiation which could be turned into power. It’s on record that Nigeria has one of the hottest climate on Earth. It climbs as high as 40 degrees Celsius. Well this is usually found in the Northern part of Nigeria but some places like Lagos and ogun states etc do have as high as 35 to 38 degree Celsius. You can become the very big reason why foreign investors will come and do business here. One of the reasons why this business is so good is that it reduces the dependency on fuel and diesel. Now if this Happens, it will provide some form of cheap form of electricity. It will help to provide jobs opportunities for the unemployed ones.
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We have solar modules or solar panels that are used to install solar systems. It’s components includes solar cells. Then these solar cells are made up of silicon and semiconductors. Well, these arw really not your concern at all. But it’s also basic that you know about it because it will enhance your business idea on the subject matter. Did I mention that this business is a very high capital intensive? Yeah it is. But that shouldn’t scare you at all. If you don’t have the cash to get the business started? We have a well documented article on how you can successfully get funds to start up your business. Just click here and there you go.
How to start a solar energy installation business
Before you embark on any form of business whatsoever, the first step is to carry out a very thorough research work on it. You don’t just want to throw money into what you are not sure convinced about. And these research has to let you know some details about the market which includes: what the market is all about, the demand of the products and services, the people already involved, the risk and how to minimize the risk. Etc
I must tell you that Solar energy installation business in Nigeria is a very technical business and you must have acquired some skills that are needed before beginning your own company. So be guided.
GET YOUR SOLAR ENERGY INSTALLATION BUSINESS PLAN IN NIGERIA / FEASIBILITY STUDY. To place an order, pay N25,000 to
GTBank (Guaranty Trust Bank)
Account Name – Ogumka Innocent
Account No – 0153723721
After payment text your name, send a text of your e-mail address to 09066078526 and you’ll receive your SOLAR ENERGY INSTALLATION BUSINESS PLAN / FEASIBILITY STUDIES REPORT.
You have to raising capital for yours business else no one will do it. Your business capital is the company’s lifeline. Solar energy Installation business in Nigeria is very capital intensive and if you don’t have enough money you can’t do the business. But if you don’t have enough capital and want our help on how you can fund your business, We have a well documented article on how you can successfully get funds to start up your business. Just click here and there you go.
You have to get your members trained. It’s called formal training. This training also involves you the most. This business is a technical one and surely, you need a technical know how about it. Nothing should be done out of common Sense. Go for a deliberate and admin training. This training will help you acquire the needed skills that will enable you perform some of the necessary work. Remember what you know will help you are a unique brand for yourself. Make use of the internet so that. You can wait videos online to help you further your training
For a business as this magnitude, first thing first. And that’s registration. You have to do the proper thing by registering your business name and obtain your certification of permit. You can do your business name registration in corporate affairs commission (CAC). This is the only thing that makes your business legal here in Nigeria. With your business name registration, you can do other lots of things like grants, loans etc. We have a well written procedures you can take to get your business name registered without any form of stress. Just click here to check it out.
Now this business seems to be risk free but don’t be carried away. All business has it’s kinda risk attached to it and this is where you have to get the services of insurance company and that will be of good advantage.
Many business people don’t seems to take insurance stuff serious and they have missing out on the many goodies attached to insuring your business. Sometimes your business might run into some forms issues and that’s where insurance policy can be used to cover up for those damages.
Acquire all the necessary equipment
This is very important as an installer. Get your equipment always ready, check out the basic necessities which you can’t afford to be short of when you go for installation.
Let’s name the various tools that you require: drill bits, earplugs, safety eyeglasses, gloves, screwdrivers, pliers, hammer, utility knife etc.
We have written on how you can advertise your work on various platforms and i will advise you to check them out. You can’t afford to neglect this very important aspect of your business. Every business needs adverts and that’s the one sure way of making your business go viral. When you open a business, you can’t afford to let the business dye off. You have place your business on adverts either on Facebook, or YouTube or any other advertisement agencies. Customers won’t just come to you but can advertise through television stations, newspaper, internet, social media, flyers and so on.
Solar energy installation business is very lucrative in Nigeria though technical. All i have shared here with you is not gonna be enough to start up this lucrative business and that is why I will advise you to get Solar Energy Installation Business Plan in Nigeria/ Feasibility Study.
GET YOUR PRINTING PRESS BUSINESS PLAN IN NIGERIA / FEASIBILITY STUDY. To place an order, pay N25,000 to
GTBank (Guaranty Trust Bank)
Account Name – Ogumka Innocent
Account No – 0153723721
After payment text your name, send a text of your e-mail address to 09066078526 and you’ll receive your SOLAR ENERGY INSTALLATION BUSINESS PLAN / FEASIBILITY STUDIES REPORT