10+ Best & Profitable Solar Energy Business Ideas [2023]

Author: Nick C headshot
Founder & CEO, Newfoundrz
Passionate about helping small businesses establish LLCs
Updated on:
August 7, 2023
Image of solar energy business ideas

Hey there, future solar energy mogul! Let me paint a picture for you. It's 2023. The sun is shining brightly, not just in the sky, but also in the world of business. You see, solar energy isn't just about saving the planet anymore (although, let's be honest, that's a pretty big deal). It's also about making some serious cash. Yes, you heard it right!

Imagine this: You're the proud owner of a thriving, profitable business that's not just putting money in your pocket, but also making a real difference in the world. Sounds like a dream, right? Well, it's time to wake up, because this could be your reality.

Whether you're a seasoned entrepreneur looking for your next big venture, or a newbie just dipping your toes into the business waters, this article is for you. We've compiled a list of 10+ of the best and most profitable solar energy business ideas for the year 2023. So sit back, grab a cup of coffee, and let's dive into the bright future of solar energy. Trust me, you won't want to miss this!

Disclaimer: This Business Ideas Content ("Content") is provided solely for informational and educational purposes and does not constitute professional, legal, or financial advice. The ideas and information presented in this Content are general in nature and are not intended to serve as a comprehensive guide or specific recommendation for any individual business or entrepreneurial endeavor.

Our 10+ Best Solar Energy Business Examples:

1. Solar panel installation.

Are you considering starting your own business and looking for a profitable and environmentally friendly option? Look no further than solar panel installation! Installing solar panels is not only sustainable, but it can also be a lucrative business opportunity. Read on to learn more about solar panel installation and why it's a smart choice for entrepreneurs.

  • What is solar panel installation?
    Simply put, solar panel installation involves attaching solar panels to a property in order to collect and convert sunlight into electricity. It requires knowledge of electrical systems and solar technology, as well as a good understanding of local regulations and building codes.
  • Why is solar panel installation a good business idea?
  • Rising demand for solar energy - With the increasing awareness of climate change, more and more people are turning to renewable energy sources to power their homes and businesses. This higher demand for solar energy means there is a growing need for professional solar panel installers.
  • Government incentives - The government offers incentives to businesses to promote the usage of renewable energy sources. Solar panel installation companies can take advantage of these incentives to reduce the cost of installation and offer incentives to their customers, increasing their sales.
  • Long-term benefits for customers - Solar panel installation is an investment that can save customers thousands of dollars in electricity bills over time. This makes it an attractive option, especially for those who care about the environment and want to reduce their carbon footprint.
  • Skills needed for a solar panel installation business:
  • Electrical know-how - You need to have knowledge of electrical wiring and circuitry to understand how to install solar panels safely and correctly.
  • Knowledge of solar technology - It's essential to know everything you can about solar panels to choose the right types, sizes, and configurations for the job.
  • Familiarity with regulations and building codes - There are specific regulations and building codes that vary by location and need to be followed to ensure safe and legal installations.
  • Effective marketing skills - You'll need to know how to reach potential customers and promote your services effectively to stand out in the market.
  • Potential earnings: The amount you can earn through solar panel installation varies depending on several factors, including the size and complexity of the installation, the region you work in, and the competition in the market. However, on average, solar panel installation businesses can bring in around $100,000 to $150,000 annually.

2. Solar energy consulting.

Solar energy consulting involves providing expert advice and guidance to clients with regards to utilizing solar energy. The main goal of solar energy consulting is to help clients maximize the benefits of solar energy while minimizing the associated costs and risks.

If you're wondering why solar energy consulting would make a good business idea, here are a few reasons:

  • Increasing demand for clean energy: With climate change becoming an increasingly pressing issue, more and more people are turning to clean energy sources such as solar power. As a result, there's a growing demand for expertise in this area.
  • Cost-saving opportunities: Solar energy consulting can help clients identify cost-saving opportunities, such as government incentives, financing options, and energy efficiency upgrades.
  • Challenges that need solving: The transition to solar energy can be complex, with a range of technical, legal, and financial issues that need to be addressed. Solar energy consulting can help clients navigate these challenges.
  • Scalable business model: Solar energy consulting can be scaled to suit the needs of different clients, from individual homeowners to large-scale commercial enterprises.
  • High earning potential: Solar energy consulting can be a lucrative career, with consultants earning anywhere from $60,000 to $150,000 per year depending on their level of expertise and experience.

3. Solar energy equipment manufacturing.

Are you ready to dive into an industry that is both lucrative and important to the environment? Look no further than solar energy equipment manufacturing. This industry is booming due to the increasing demand for renewable energy sources and the push toward sustainable living.

  • Solar energy equipment manufacturing involves the production of solar panels, solar cells, generators, and other equipment that harnesses energy from the sun.
  • The market for solar energy equipment is expected to grow rapidly in the coming years, with projections estimating a $422 billion industry by 2022.
  • Investing in solar energy equipment manufacturing allows for the creation of products that are not only economically viable, but also environmentally friendly.
  • Governments around the world are investing in renewable energy, creating incentives and subsidies for businesses and individuals to contribute to the industry. This means that solar energy equipment manufacturing is a smart and sustainable option for entrepreneurs looking to make a difference in the world.
  • Solar energy equipment manufacturing is also scalable and can be tailored to fit the needs of small or large businesses, making it an adaptable and flexible business idea.

Join the growing movement toward sustainable energy and take advantage of the immense potential of the solar energy equipment manufacturing industry.

4. Solar energy system maintenance.

Are you interested in renewable energy and looking for a business opportunity? Then, offering solar energy system maintenance could be the perfect option for you. Why? Because as the popularity of solar energy continues to surge, so does the demand for system maintenance. So, what exactly is solar energy system maintenance and why is it a lucrative business idea? Let's dive in!

  • Solar energy system maintenance involves inspecting and maintaining the various components of a solar energy system. This includes checking the panels, wirings, inverters, and batteries for any wear and tear, damage, or malfunctioning.
  • A well-maintained solar energy system can ensure optimal performance and maximum efficiency, which can save the customer money on their energy bills in the long run. Therefore, regular maintenance is essential to ensure the longevity and reliability of the system.
  • Solar energy is not only an environmentally-friendly option; it is also a profitable investment for homeowners, businesses, and organizations. As the cost of solar energy continues to decline, more and more people are investing in solar energy systems. As a result, the demand for system maintenance services is rapidly increasing.
  • Offering solar energy system maintenance as a business is not only a profitable venture, but it also contributes to the development of renewable energy sources. By ensuring the optimal functioning of solar energy systems, you are helping to promote the adoption of renewable energy and reducing the reliance on fossil fuels.
  • There are also several financial incentives available for homeowners and businesses that install solar energy systems. For example, tax credits, rebates, and net metering programs are just a few ways in which customers can save money while investing in renewable energy. By offering maintenance services, you can help customers take advantage of these incentives and maximize their savings.

5. Solar energy storage solutions.

Are you interested in starting a business that helps the environment while also making a profit? Consider solar energy storage solutions. Not only is solar energy a clean and renewable energy source, but there is also a high demand for energy storage technology as renewables become more prevalent. But what is solar energy storage, and why would it make a good business idea? Let's break it down.

  • What is solar energy storage? Solar energy storage is the process of converting and storing solar energy for use at a later time. This technology allows individuals and businesses to have access to electricity even when the sun is not shining.
  • Why is there a demand for solar energy storage? As renewable energy sources, such as solar panels, become more prevalent, there is a need for a way to store the energy they produce. Solar energy storage provides a solution to this problem, ensuring a constant and reliable energy source that can be used even when the sun is not shining.
  • What are the benefits of starting a solar energy storage business? There are several benefits to starting a solar energy storage business, including:
  • Environmental impact: By providing a clean and renewable energy source, you can make a positive impact on the environment.
  • Cost savings: As the cost of solar energy storage technology decreases, there is a growing demand for this type of service. This means you can build a profitable business while also offering cost savings to your customers.
  • Market potential: The solar energy storage market is expected to grow significantly in the coming years. By getting in on the ground floor, you can position yourself as a leader in this expanding industry.
  • What are the challenges of starting a solar energy storage business? As with any business, there are challenges to starting a solar energy storage business, including:
  • Capital investment: The initial investment required to start a solar energy storage business can be significant.
  • Regulatory considerations: Depending on where you plan to operate, there may be regulatory hurdles to overcome.
  • Competition: The solar energy storage market is growing, which means there may be competition in your area.

Overall, a solar energy storage business has the potential to be a profitable and environmentally-friendly venture. By offering a service that is in high demand and has a positive impact on the planet, you can position yourself as a leader in the growing renewable energy industry.

6. Solar energy product distribution.

Solar energy has become one of the most popular sources of renewable energy in the world, and the demand for solar products has increased significantly in recent years. If you're looking to start a business, distributing solar energy products can be a great idea. Here's why:

  • Renewable energy is gaining popularity: People are becoming more aware of the harmful effects of non-renewable energy sources and are switching to renewable options. Distributing solar energy products puts you in a prime position to benefit from this shift.
  • Government incentives: Many governments offer incentives for renewable energy solutions, including solar. These incentives can help make solar products more affordable for your customers, increasing your potential client base.
  • Cost-effective: Solar technology has become more affordable, making it a cost-effective solution for both residential and commercial use. This means that you can offer your customers quality products that are reasonably priced.
  • Diverse product options: There is a wide range of solar products available, from solar panels to solar-powered lighting solutions. This means that you can cater to various customer requirements to increase business opportunities.
  • Market growth: The solar industry is projected to grow rapidly in the coming years. As a distributor, you can tap into this growth potential by supplying quality solar products to meet customer demands.

Given these reasons, distributing solar energy products can be a profitable business idea. As with any business, research into the market and competition is necessary to ensure success.

7. Solar energy financing.

Solar energy financing is a type of financing designed to help individuals and businesses transition into a more sustainable lifestyle. It helps people finance the installation of solar panels to their homes and offices, making it easier to harness the power of the sun's energy. But what exactly is solar energy financing, and why would it make a good business idea?

  • Solar energy financing allows people to install solar panels without a large upfront cost.
  • Payments for solar energy financing are spread out over a period of time, making it more affordable.
  • Solar energy financing can save people money in the long run since solar power is typically cheaper than traditional power.
  • Many people are interested in living a more sustainable lifestyle and reducing their carbon footprint.
  • Investing in solar energy financing can provide a steady source of income for businesses.
  • The demand for sustainable energy is growing, which makes solar energy financing a lucrative business opportunity.

8. Solar energy engineering services.

Have you ever heard of solar energy engineering services? This field combines the growing demand for renewable energy with the need for engineers to design and implement these systems. Here's why starting a solar energy engineering service could be a wise business move:

  • Renewable energy is a hot topic. As individuals and companies become more environmentally conscious, the demand for renewable energy solutions is skyrocketing.
  • Solar energy engineering services are versatile. They can provide solutions for residential, commercial, and industrial settings.
  • The industry is on the rise. According to the Bureau of Labor Statistics, the demand for solar photovoltaic installers is projected to grow 63% from 2018 to 2028.
  • Opportunity for innovation. With the increasing demand for solar energy systems, there is a need for new and innovative ways to design and implement these systems. Engineers have the opportunity to develop and improve upon existing technology.
  • Financial benefits. In addition to the satisfaction of providing sustainable energy solutions, starting a solar energy engineering service can bring in a substantial income. As demand increases and the industry continues to grow, so does the potential for profit.

If you're looking for a business idea in a growing industry with high demand, solar energy engineering services may be worth considering. Not only can it be lucrative, but it can also have a positive impact on the environment and help pave the way for a more sustainable future.

9. Solar energy system leasing.

Are you looking for a new business idea that has a positive impact on the environment? Have you considered solar energy system leasing? Not only does it provide a renewable energy source, but it can also be a profitable venture. Let’s dive into the details of what this business entails.

  • Solar energy system leasing involves renting out solar panels to businesses or homeowners for a monthly fee. The panels are installed on the property and generate electricity that can be used by the tenant.
  • The leasing company retains ownership of the panels and is responsible for maintenance and repairs.
  • This business model allows individuals or organizations who may not have the upfront funds to purchase and install solar panels themselves, to still benefit from clean energy without the financial burden.
  • The solar energy industry is growing rapidly as more people become environmentally conscious and governments incentivize renewable energy usage. This means there is a large potential customer base for this business.
  • In addition to the financial benefits for the leasing company, there is also a positive impact on the environment, as solar energy reduces dependence on non-renewable energy sources.
  • There may also be tax incentives or rebates available for businesses that invest in renewable energy, which can further benefit the leasing company.

Overall, Solar energy system leasing can be a wise choice for those looking to start a business that has a positive impact on the environment and has the potential for financial success.

10. Solar energy software development.

Solar energy is a rapidly growing industry that is transforming the way we power our homes and businesses. One key aspect of this industry is the development of solar energy software, which can help users optimize their solar energy production and monitor their energy usage. Here's what you need to know about solar energy software development and why it could make a great business idea:

  • Solar energy software can help users make the most of their solar installations by providing real-time data on energy production and usage
  • The software can also help users identify areas where they can reduce their energy consumption and save money on their energy bills
  • As the solar energy market continues to grow, there will be an increasing demand for software that can help users manage their solar installations and maximize their energy production
  • There are a variety of different types of solar energy software, including monitoring software, predictive analytics, and energy management systems, which means there are many different niche markets to target

Overall, there's plenty of opportunity in the solar energy software development space, and with the right expertise and resources, this could be a profitable business idea for entrepreneurs who are passionate about sustainability and clean energy.

Successful Examples of Solar Energy Businesses:

Solar energy is becoming an increasingly important part of our energy landscape. Below is a list of some top companies that have found success in the solar energy business industry:

  • Tesla
  • Canadian Solar
  • SunPower Corporation
  • First Solar, Inc.
  • Jinko Solar
  • SolarEdge Technologies, Inc.
  • Yingli Green Energy Holding Company, Ltd.
  • Trina Solar Limited
  • Vivint Solar, Inc.
  • Sunrun, Inc.

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Founder and CEO

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.