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Do you want to start a solar panel installation company but have no idea where to begin? The solar panel market is continuously growing, so now is the time to start.
Starting any small business requires grit, determination, and patience. But knowing how to make the process as easy as possible can be learned through research.
Starting your own company has plenty of benefits, and though it requires hard work, the payoff is all worth it. Establishing your business, obtaining required licenses, and finding employees are all part of the process.
If you’re interested in learning how to start your own solar panel installation company, then keep reading!
Before You Start
Knowing everything about what you’re selling is essential as a business owner. Becoming an expert in your craft is the first step to starting a company.
When it comes to solar panels, you must know everything about solar energy, price points, and of course, the installation process. Solar panels can cost anywhere from $15,000 to $25,000, so you don’t want to mess up the job.
Looking to other professionals in the field is the best way to learn about starting a solar business. In addition, by watching what others are doing, you can gain your inspiration.
Obtaining Required Paperwork
A business wouldn’t be a business without the proper licenses and certifications. You must check with your state to see if installing solar panels requires licenses.
Some states do not require any licensing. But a few states even require you to have an electrician’s or plumber’s license. An excellent place to start would be your local building code department.
The North American Board of Certified Energy Practitioners and Green-e offer voluntary certification. They are based on training, experience, and passing an exam.
Though these are voluntary, it gives a more professional appearance that can gain the trust of potential clients. You may discover more about price points and the installation process by reading about what other companies do.
Becoming an LLC
An LLC is a limited liability company. It is a business structure that offers pass-through taxation. In simple terms, it’s what makes your business official.
Becoming an LLC includes choosing a name, selecting employees or members, creating operation agreements, and receiving an EIN (employer identification number).
When your solar energy company establishes itself as an LLC, other companies will not be able to use the name of your business, either. It’s the best way to authenticate your company.
Business Insurance
After establishing an LLC, receiving your licenses, and learning everything there is about solar panel installation, it’s time for insurance. Business insurance protects and covers property damage costs and liability claims.
Otherwise, you’ll have to pay out-of-pocket.
Choosing the right insurance is important, which is why there are a few specific considerations for the solar industry:
- Workers’ compensation
- Excess/umbrella liability insurance
- General Liability Insurance
- Automobile liability insurance
Securing these specific insurance policies will protect your solar company more.
Your Solar Panel Installation Company
With these easy steps, you can start your solar panel installation company quickly. If your company is insured and has an established LLC, then that is the perfect blueprint for you to work off of to create your brand.
And before you use your blueprint, ensure that you and your employees learn everything you can about installing solar panels. Your solar panel installation company will only thrive off good reviews.
Did you find this article helpful? If so, make sure to read more from us.
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