Power generation and distribution are capital-intensive business activities. Therefore, this sector requires a large amount of capital to run businesses. But, small scale energy industry players can play an important role in capacity building, reducing transmission & distribution loss and providing quality services at affordable rates. At present, there are more than 1000 companies engaged in power generation and selling electricity as merchant power producers. In addition, several companies are involved in the distribution and marketing of electricity with private participation. Moreover, if you are bored of keeping track of things like gold price today Allahabad or whichever city you are from, then you can look into the energy sector for some new opportunities. See more
To help you get started, here is a list of some of the best small scale energy-related business ideas:
- Solar Energy Farm
The business of solar energy farms is a profitable venture, especially in a country like Nigeria where there is abundant sunshine. If you have the financial capacity to start your own renewable energy company, then one of your options is to go into the manufacturing of solar panels or solar cells.
You can produce your solar panel and sell it to consumers or corporate organizations who need it for their homes, offices, etc. It is important to state that if you intend to start this type of business, then you should be ready to undergo some form of training because it will help you build capacity on how best to produce quality solar panels that can compete with other brands in the market.
- Charging Station
You can invest in buying or leasing land or space to set up a charging station for electric vehicles such as bikes and cars. This business will require moderate capital investment depending on the location where you want to set up your business.
- Solar Power Street Lights Installation and Sales Business
Solar power has lately become the buzzword infact there are more searches online for solar energy related stuff than things like today’s gold rate in tenali or Srinagar. So if solar energy can surpass gold in popularity it surely has some exciting opportunities in it.
If you are looking towards starting a business in the power industry, then one of your best options is to go into the installation and sales of solar power street lights. The above-named business may not sound so lucrative but one thing is certain; there are loads of people out there who are willing to go green by using this alternative source of energy especially as it relates to lighting their streets. So if you start this type of business today, you are likely going to dominate your niche market if you can deliver good service.
- Carbon Credits Consultant
Carbon credit is a new concept in carbon trading. It refers to a monetary unit equal to one tonne of CO2 emissions reduced or offset. It is used to control greenhouse gas emissions in key polluting countries by setting limits on their emission levels and allowing the trade of excess emission credits between polluting countries under an agreement called the Kyoto Protocol. One can start the business as an independent consultant or with an established firm.
- CNG/LPG Gas Station
CNG and LPG are two types of gaseous fuel for automobiles. It has good market potential and scope for growth. CNG station requires high initial investment whereas; LPG station can be initiated on small scale basis with moderate capital investment.