How To Start Solar EPC Business
How to Start Solar EPC Business – For becoming a top solar EPC company, you must know how to start a solar EPC business. There is a lot of efforts and study you will have to do, for starting a solar EPC business. Inter Solar is one of the best solar EPC companies in India. EPC companies are very popular among customers for providing best customer experiences with customized products. To know more about how to start a solar EPC company, you can read out the following information.
Inter Solar is the top solar product manufacturing company you will find in India in current time. Because the quality it provides is highly acceptable by the customers. In addition to our quality feature of solar products, we always give much attention to the customer satisfaction perspective also. Consequently, all these properties let us score high in the top solar product manufacturing companies.
Most importantly, being an EPC company is also our key competency. We do the engineering, procurement and construction process collectively with proper care. If you want to know the process to start a solar EPC business, we will help you out in that case.
What is EPC Business?
Solar EPC full form is engineering, procurement, and construction. The companies who follow the EPC approach are earning high profits because of providing customized products. And there is bright future of solar energy business in India. You can also get to know EPC by some other names like EPIC (engineering, procurement, installation, commissioning) or EPCC (engineering, procurement, construction, and commissioning).
When you follow the EPC approach, you will manufacture more advanced and quality products. Because you will be doing a lot of research and expertise are included in the EPC process. But when you are having all the EPC consultants or expertise within your organization, you will be saving your cost for outsourcing them. So being a solar EPC company makes Inter Solar the most growing and popular firm in India.
Steps to Start a Solar EPC Company
EPC companies are always the one which provides customized and best products to its customers. A lot of research work they do before manufacturing a particular product for a particular place. The solar product manufacturing industry is running on a growth path. Because of 30 % cumulative annual growth rate in of solar industry, more and more people are investing in this business. But your solar business will flourish more when you are following EPC approach. The steps to start a solar EPC company are under even.
Registering Your Company with All the Documents
First of all, you will need to register yourself for starting the EPC process in your firm. In order to register yourself as a solar EPC company, you will have to get mandatory certifications and do the documentation. Then start the further process of solar business.
Considering Engineering Aspects for Solar Products
For becoming the best solar EPC company, you will have to consider the all the engineering aspects for designing the best solar products accordingly. It will include more of the research work for future perspectives. It will include
- Firstly, you will have to do the customer requirement analysis. Because it is the customer for whom you will be manufacturing your solar product.
- The location survey is another thing you will need to design a product accordingly. Because the location leaves more impact on the working of the solar product.
- Weather surveillance is also an important step in the EPC process. You must be able to manufacture the products which can best suit the location weather.
- Generating energy will also come under the engineering process of EPC. In this, you will design that how your solar product will generate power.
- Raw material selection is the most crucial step in the EPC process. You need to select the raw materials wisely for you solar product manufacturing.
- Designing will be the next step in becoming a top solar EPC company in India. Your design must be attractive and at the same time must be not very space acquiring.
- Then design the 3D model of your solar product design, just to have an overview for proceeding the further manufacturing process.
Procurement of Raw Material
The raw material is all you need to put your imagination or design into action. Therefore, you will need the higher degree of care and attention on this part. Because, if you lack in the quality of any raw material equipment, it will surely going to affect the working and quality of the overall solar product. Therefore, a procurement consultant will solve the problem efficiently.
Constructing the Solar Product
The last step of the EPC process is construction. Finally, constructing the solar product after designing and procuring the best equipment. In addition, some more value adding steps can be there in the construction process. The construction team must be competent enough to convert the 3D model into the reality. Consequently, you will get the desired product as per your design.
All these steps will help you in starting an EPC solar plant business. The things which appear so easy are not what they appear to be. Therefore, if you are running your EPC companies for solar power plant business, there are fewer chances of facing a loss. You can search for solar energy business ideas India online and then start following EPC process for faster growth.
FREQUENTLY ASKED QUESTIONS
- What Financial Assistance does the ministry provides?
Under the Grid Connected Rooftop and Small Solar Plants
Programme of the Ministry, There is a provision of Central Financial Assistance of 15% of the total cost or Rs. 12 per watt or Rs. 1.20 crore per MWp . This CFA has been reduced from 30% to 15%.
- For Solar Rooftop Systems, What are the other fiscal incentives are available ?
For setting up of grid connected rooftop power plantsThere are provisions of concessional import duty/excise duty exemption, accelerated depreciation and tax holiday .
- Is Government providing loans for solar rooftop systems?
To encourage home loan/ home improvement loan seekers to install rooftop solar PV plants, Department of Financial services has instructed to all Public Sector Banks include cost of system in their home loan proposals.