Business Idea: If you are seeking a method to generate supplementary income, we have an excellent suggestion for you. This business model allows you to initiate operations with minimal ongoing effort, ensuring a continuous income stream. You can commence this venture from the vacant rooftop of your residence and potentially earn substantial profits. We are referring to the solar panel business.
Solar panel business
Given the rising demand for electricity, the government is increasingly advocating for alternative energy sources. Consequently, the demand for solar energy solutions is anticipated to grow further. It is important to note that solar panels can be installed in various locations. By placing solar panels on your rooftop, you can produce electricity and supply it to the local electricity department. The installation of a solar panel system typically costs around 100,000 rupees, with a 30 percent subsidy available from the central government.
Banks offer small-scale industry loans
Additionally, numerous banks offer small-scale industry loans for solar energy initiatives. The installation costs for solar plants may vary by state; however, after accounting for the subsidy, a one-kilowatt solar plant can generally be set up for approximately 60,000 to 70,000 rupees. This presents a promising opportunity for you to earn income from the comfort of your home. The demand for solar energy is consistently rising, from urban centers to rural areas.
Both central and state governments are prioritizing solar energy initiatives and encouraging citizens to adopt solar technology. In some states, the installation of solar plants has become mandatory for industrial operations. Once installed, the solar panel system requires a battery replacement approximately every ten years, with minimal maintenance needed otherwise.
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