Much of the world’s resources are running out at an alarmingly fast rate. Both consumers and businesses alike have to take steps in conserving resources and managing them better.
One critical resource involves energy. The high cost of energy has a direct effect on the prevailing prices of goods and services. To solve this issue, researchers and businesses are finding ways to look for alternative sources of energy. However, funding these efforts is also key to their success.
For entrepreneurs interested in building a business in renewable energy, here are a number of ideas you can consider, and a suggestion for where you can apply for renewable energy finance help.
- Selling, distributing and installing solar panels
The use of solar energy is becoming more widespread as a growing number of people are looking for alternative sources of energy. Solar panels are being used in a wide variety of environments including homes, offices and factories. Although solar panels require a substantial investment in the beginning, the advantages outweigh the costs in the long run.
Entrepreneurs have a number of choices when it comes to solar panels. You can choose to buy, sell and distribute solar panels and/or install them for your potential clients. Solar panels can be imported in bulk from other countries and then sold to retailers or installers. An alternative is to become a retailer.
You can also choose to offer installation services. However, you will need to invest some money in training on how to properly install the panels.
- Producing bio-fuels
Much of the vehicles and appliances we use today run on fossil fuels. These create smoke which can damage the ozone and our environment.
One possible business you can look into is developing your own bio-fuel. You can devise your own bio-fuel made out of a type of waste material. Another route you can take is to create devices that run on bio-fuels.
- Installing wind turbines
Besides solar panels, people are also looking into using wind energy to power up their homes and businesses. If you live in an area where the winds are consistently strong, you may want to consider this business idea. You could set up a business building wind farms where you can supply energy to your local community.
Contact Portman Asset Finance for financial advice or if you need funding for your renewable energy business. Portman Asset Finance offers a number of funding options to suit your needs including business loans, lease financing, hire purchasing and refinancing options. Click here to find out more about our business finance products.