Windmill Or Solar- Which Is The Best For Business In India?

Which Is Better Windmill Or Solar Panels?

• Environmental Pollution and Climate Change have become major topics of discussion and for good reasons.
• Day by day, pollution is increasing, and its adverse effects are more evident than ever.
• Air pollution, water pollution, noise pollution, and others are affecting the earth in such a way that all forms of life will be in danger very soon.
• The most adverse effect is that of climate change.
• Carbon Dioxide, Methane, Sulphur Dioxide, and other greenhouse gases are causing a temperature rise.
• This will hurt our ecosystem and will destroy life on earth.
• The consequences of climate change are:
• Melting of glaciers, which will not only destroy the habitat of several species but also cause a rise in sea levels.
• The rise in Sea Levels, which will cause floods and destroy settlements and life.
• Rising minimum and maximum temperatures.
• The rise in Ocean Temperature
• Will cause an unprecedented water and hunger crisis, especially in developing countries.
• Rising temperatures and heat waves will cause health hazards.
• Impact on biodiversity due to the limited or slow adaptability of flora and fauna.
• The economic cost of dealing with the effects of global warming.
• As you can see, if climate change is not tackled, it will cause serious problems for our environment and our planet.
• The good news is, there are renewable sources of energy.
• Renewable energy comes from natural sources that can be constantly replenished.
• They are a better alternative to conventional sources of energy such as coal, oil, and gas.
• Some of them are:

1. Solar Energy
2. Wind Energy
3. Thermal Energy
4. Hydroelectric Energy
5. Biomass Energy
6. Geothermal Energy
7. Tidal and Wave Energy

• The most popular of them are Solar Energy and Wind Energy.
• The best part about them is you can harness them into business opportunities.
• They are one of the emerging industries and quite a lucrative one too.
• Let us discuss both Solar Energy and Wind Energy in India.

Solar Energy

• Solar Energy is the most abundant form of renewable energy, as the sun has been providing energy to our planet for billions of years and will keep on providing us for as long as it exists.
• Humans have been using Solar Energy since the beginning.
• Agriculture is dependent on solar energy, as well as other important biological processes such as photosynthesis and evaporation.
• It also makes our planet warm enough for it to sustain life.
• In fact, without solar energy, life will not exist.
• Today, with the development of Solar Energy technology, solar energy can be harnessed for multiple purposes:

1. Providing electricity to home and businesses
2. Warming up Homes and Businesses
3. Warming up water
4. Powering various devices
5. Providing power to lamps.

• Solar energy is harnessed through solar panels.
• They consist of solar or Photovoltaic (PV) cells.
• They are made up of Silicon and other materials that directly transform sunlight into electricity, which can be used for various purposes.
• The solar energy systems distributed in different places generate electricity locally for homes and businesses.
• The electricity is generated either through rooftop panels or community projects that provide electricity to an entire locality.
• Solar power can generate a lot of energy for a lot of homes.
• This can be done by using mirrors to divert and concentrate energy towards solar farms.
• Solar energy does not produce greenhouse gases and air pollutants.
• As long as it is sited and handled responsibly, it will have considerably less environmental impact compared to fossil fuels.

Solar Energy In India

1. Solar power in India is a fast developing industry.
2. India's solar capacity was 35,739 MW as of 31st August 2020.
3. The Government of India aims to raise the solar power capacity to 100 GW by 2020.
4. India has 300 sunny days.
5. The solar energy incidence on India's land area is calculated to be 5000 trillion kilowatt-hours per year.

Investment

• To set up a solar business in India, you will need a huge investment.
• There is no limit as such.
• This is true, especially if you want to be a manufacturer of solar panels or solar inverters.
• If you want to become a manufacturer, you can start with mounting structures.
• This does not require a lot of investment.
• If you want to be a solar installer, this will require less investment, but you will need a team with you.
• However, you will require at least ₹50,000 to start any business.
• You will need ₹10,000 if you want to get your company registered as a Private Limited, Partnership, or One Person Company.
• You will need ₹20,000 for setting up your office and additional costs for marketing and advertising.

Wind Energy

1. The wind is another popular source of renewable energy.
2. Wind energy can be generated with the help of wind turbines.
3. The wind energy turns the turbine blades, which powers the electric generator and produces energy.
4. As of September 30, 2020, the power capacity of wind energy was 30.124 GW.
5. It's installed power capacity is the fourth highest in the world.

Setting Up Wind Energy Business

1. Setting up Wind turbines requires a lot of investment and research.
2. The cost of setting up a windmill power plant runs into crores.
3. Hence you will need a lot of capital investment.
4. You will need to get your company registered under the companies act, get the necessary permits, and arrange for capital.

The Steps To Start Solar And Wind Energy Business

To start solar energy or a wind energy business in India, you will need to follow these steps:

Do Research

• The first thing you need to do before starting any business is doing proper research.
• Without proper research, your business is bound to fail.
• You need to research the regulations, sourcing, investment, and many other requirements and needs regarding the business.

Make A Business Plan

1. Once you have conducted comprehensive research about the needs and requirements of setting up the business, you will then have to make a building plan.
2. Business planning is the most crucial exercise you need to undertake before starting any business.
3. Many businesses fail because proper planning has not been done.
4. If your business planning is good, then the chances of your business succeeding will be much higher.
5. You can hire experts to make a business plan, as they can provide expertise.

Get Legalised

• There are different registrations required to legalise a company.
• In India, it depends on which type of company you want to establish.
• You can either form a Private Limited Company or Sole Proprietorship.
• If you are forming a private limited company, you will need the following documents:

1. Certificate of Incorporation
2. Memorandum of Association
3. Articles of Association
4. TAN
5. PAN
6. GST

• If you are forming a sole proprietorship, you will only need to have a GST certificate and PAN.

Open A Bank Account

1. The next stage will be opening your bank account.
2. If you need to open your company's current account, you will require the Company Incorporation Certificate, Memorandum of Association, Articles of Association, GST Certificate, and the Address and Identity Proof.
3. If you are opening up a sole proprietorship, you will need only GST Certificate and Address and Identity Proof.

Hire

• The next step is to hire the staff.
• If your company is based in Tier-1 or Tier-2 cities, hiring will be easier as you will gain access to them through online recruiting sites.

Online Presence

1. You need to have a good online presence if you want to gain customers.
2. Your website needs to be responsive and of good quality, if you want to gain presence and credibility in the market.
3. The cost of web development is now very reasonable, and there are a lot of companies and specialists with expertise in that field.
4. You will need social media presence as well, on Facebook and Instagram.
5. This will help you generate leads on social media.

Sales And Marketing

• The last stage is to market your business well to gain customers.
• You can either hire salespersons, use traditional advertising such as newspaper ads, radio ads, etc.
• The most cost-effective way of marketing is digital marketing.
• You will get great results with less budget.

Which one is better for business? Solar or Wind?

To answer this question, we will need to look at the pros and cons of each.

Pros of Solar Energy

• Solar Energy can be easily produced, as India has 300 sunny days in a year.
• Solar panels can be easily installed in different places.
• It is eco-friendly
• The solar panels need little maintenance
• The prices of solar panels have been dropping drastically.

Cons of Solar Energy

1. They do not produce energy at night.
2. They need proper orientation.
3. They can be fragile.

Pros of Wind Energy

• It has huge potential. It can generate twenty times the energy required by the population.
• It is eco-friendly as it does not cause pollution.
• Initially, it may be expensive, but in the long run, it will save money.
• They are also space-efficient.

Cons of Wind Energy

1. It is dependent on winds, and many times, the wind flow may not be efficient.
2. It also threatens wildlife. They are especially dangerous for birds and bats.
3. It will work only in windy conditions.

• In short, both have their advantages and disadvantages.
• Which business you choose depends on your preferences and investment capacities.

Also Read:

How Do I Start My Own Construction Company?

How Do I Start A Scrap Business In India?

All about Manufacturing & how it takes place

FAQs

Q- Which one is better? Renewable energy or non - renewable energy?

Ans- Renewable energy is better as it preserves the environment as it provides energy.

Q- Can renewable energy be a great business opportunity?

Ans- Yes, very much so. They are sustainable, eco-friendly, and have huge potential.

Q- Do I need to get myself registered under the Companies Act 2013?

• Yes, you need to get yourself registered under the act to legalise your business.
• There are several types of registration. Sole proprietorship, Private Limited, and Single Person company are the categories under the act.
• You have to get yourself registered under one of these types.

Q- Is Digital Marketing beneficial for businesses?

1. Digital Marketing is an effective way of marketing.
2. It can give online leads.
3. It provides effective results at a low cost.