Sustainable energy is key to human welfare, economic development, and world growth. However, catering to the paradigm shift in the energy sector from non-renewable to renewable and green energy is quite challenging. The intriguing factors here are:
- sourcing sustainable energy for commercial energy production,
- utilizing sustainable energy carriers,
- curbing the environmental impact, and
- increasing the efficiency of the whole process.
As an entrepreneur, if you dive deep into these factors and rightly choose your sustainable energy business idea, your success is not far away. We, at GBCorp, have curated the top sustainable energy business ideas for 2023!
Top Seven Sustainable Energy Business Ideas for This Year
- Solar Panel: Distribution, Sales, and Installation
- Solar water pumps and refrigeration systems
- Photovoltaic system installation
- Geothermal panel installation
- Retail solar water heating systems
- Bio-fuel production
- Wind Turbine Installation
Solar Panel: Distribution, Sales, and Installation
A solar panel is a great alternative to current commercial power supplies. From individual homes to factories, people have begun to install these solar panels. You can import or procure solar panels from a renowned manufacturer. Then, rightly position them by managing distribution, sales, and installation. Additionally, consulting on the right solar panel for the personalized needs of the customer can become a new or separate business.
Solar water pump systems
Farmers are facing challenges in paying for the huge electricity bills due to solar water pumps. With solar water pumps, the system runs on solar energy and does not consume much grid power. This way, your customers will stay happy and pay little or no electricity bills. Starting a solar water pump manufacturing company can be a cakewalk. Provided you get incentives from the government and retain the huge irrigation customer base to sustain your business.
Photovoltaic system installation
Photovoltaic systems are mostly suited for large-scale energy or power production. If your startup is a venture-backed company, you can invest in it and earn a higher ROI over a longer period of time. You can benefit many other companies by reducing their energy consumption and costs by integrating these photovoltaic systems into their current power systems.
Did you know? The EU member states are working toward achieving climate neutrality in another fifteen to twenty years. Likewise, other countries, including the USA, China, India, etc., have benchmarked sustainability goals to get enough attention and make renewable energy more popular.
Geothermal panel installation
As you all know, geothermal energy depends on the earth’s surface temperature (50°–60°F) for energy generation. As an alternative to solar panels, lately, geothermal panels are also gaining momentum.
Retail solar water heating systems
Popularly referred to as commercial solar water heaters, these systems were one of the first renewable energy systems to be commercialized for domestic purposes. From domestic to industrial installations, your business can cater to all solar water heating systems. If you are not in the solar water heating systems business, you can involve yourself at least in the installation services, from which you can earn around 7,000 USD.
As per the U.S. Department of Energy, the country has already exceeded the $1 billion market for biodiesel in the last decade. If you’re interested in kick-starting a biofuel business, you need to take into consideration:
- the startup costs,
- raw material procurement,
- technology, and
- marketing of your business.
Wind Turbine Installation
If your investment amount ranges between 5 and 10 crore (600,000 and 12,000 USD), wind turbines are the best choice. You can register, install 2-4 MW of wind turbines, and support the commercial grid systems for the country. You can make use of the incentives and financial benefits offered by the government for sustainable energy businesses.
About GBCorp GBCorp is a leader in consulting and offering services for green and sustainable projects across the globe. From buy-sell mediation to IT support, they aid business owners in all possible ways.