Are you looking for innovative energy business ideas or opportunities? Are you interested in starting a business in the energy-based industry with a small investment? Here is a big list of innovative small business ideas on the energy and renewable energy business sector.
Power is one of the most critical components of infrastructure crucial for the economic growth and welfare of nations. The existence and development of adequate infrastructure are essential for the sustained growth of the Indian economy.
India’s power sector is one of the most diversified in the world. The source of power generation ranges with a wide diversity including conventional sources and viable non-conventional sources. It includes coal, lignite, natural gas, oil, hydro, nuclear power, wind, solar, and agricultural and domestic waste.
In addition, any individual can initiate these business opportunities on a small-scale basis and also on a part-time basis.
List of Top 22 Energy Business Ideas
#1. Automobile Battery Store
The battery is an obvious power solution for any type of vehicle. Therefore, it is a mandatory item for two or four-wheelers. You can start a battery store with moderate capital investment. It is advisable to start with reputed brands.
#2. Biodiesel Production
You can initiate a biodiesel production unit on a small scale basis at any place where the main raw material Jatropha oil is easily available. There is a continuous search for renewable sources of fuels due to the rate of depletion of fossils. Read More…
#3. Cool-roofs installation
You can install cool roofs that are made of materials that reflect solar heat so that the building does not heat up due to heat absorption. This would also increase energy efficiency and reduce the heat-island effect in urban areas.
#4. E Rickshaw Manufacturing
These are very popular vehicles nowadays. In addition, they are popular in rural areas, suburban, and even metro cities. And e-rickshaw is a very effective vehicle for covering a short distance. And it doesn’t demand any manpower effort to run. Furthermore, the market is emerging and the demand is growing rapidly in India.
#5. E-Vehicle Distribution & Selling
The e-bike is getting popularity rapidly in our country. Additionally, reputed four-wheeler manufacturing companies are constantly trying to launch the best models of four-wheelers. In this scenario, you can start the distribution or retail selling of e-vehicles.
#6. Gas Station
As several vehicles are turning to gas fuel, the need for gas stations is increasing in India. However, there are several fuel stations that also offer gas to the gas-operated vehicle. But there is still a huge demand for the gas station.
#7. Generator Manufacturing
The generator is largely used for domestic, commercial, and industrial purposes. Different types of generator with different capacity is always in demand in the market. Additionally, you can start the business on a medium or large-scale basis.
#8. Geothermal Power Plant
Geothermal energy can be used very effectively in both on- and off-grid developments and is especially useful in rural electrification schemes. And India has several potential areas that are suitable for establishing geothermal power plants. However, the business demands substantial capital investment.
#9. Home Energy Consultancy
You will consult households on how to reduce their energy consumption for a fee. This business needs low investment but requires good marketing and people skills.
#10. Inverter Manufacturing
An Inverter is a device, which converts DC power into alternative sources. This conversion may be accomplished by electromechanical means namely motor, Generator sets are entirely by electronic means. Read More…
#11. Oil & Gas Transportation
Oil and gas transportation demand the specific type of tanker for safe transportation and delivery. Additionally, different types of oils and gasses demand different infrastructure. This type of business is very lucrative. However, the business demands substantial upfront capital investment.
#12. Online Fuel Delivery
In the era of a booming eCommerce industry, online fuel delivery is definitely a lucrative opportunity for entrepreneurs. However, the business demands the right strategic planning and operating procedure. In addition to that, you have to put in a substantial initial investment. It is advisable to start with operations within a single city. And after getting sufficient confidence, expand the business. Read More…
#13. Petrol Pump
Petrol pump is a traditional business in India. And still, the business is lucrative. Additionally, you can start a petrol pump integrated with other retail offerings. It may a coffee shop or stationery store or craft store. Read More…
#14. Rain Water Harvesting
Water shortage is already one of the major issues in many parts of India. Water Harvesting provides effective solutions to this problem. You need to learn all about Water Harvesting, get trained, and offer comprehensive solutions to the people in need.
#15. Rural Solar Energy
Over 7 lac villages in India and over 1 million villages still under power starvation. You can cater to this energy need by making available solar energy panels and equipment for such villages.
#16. Solar Lamps Manufacturing
You can manufacture and install solar lamps for reducing dependence on electrical energy. The business is comparatively easy to start with small capital investment.
#17. Solar Panel Installation
The demand for solar panel installation experts is huge in India. However, it demands specific knowledge and experience. Additionally, you must promote your service-based business widely.
#18. Solar Water Heater
You can manufacture and install solar water heaters for reducing dependence on electrical energy. Additionally, the demand for this item is increasing rapidly. It also helps to reduce the cost of energy.
#19. UPS Assembling
You can start this business on a small-scale basis. According to the demand, the different capacity of UPS is generally on demand. It is used for household, official, commercial and industrial purposes widely.
#20. Used Lube Oil Re-refining
This is another lucrative small-scale business opportunity in the energy sector. Additionally, the business demands comparatively small capital investment initially.
#21. Weather Control Solutions
You can Provide weather control solutions like solar shields for commercial or residential buildings so that the temperature and conditions remain optimum for a fee.
#22. Wind Milling
Wind Mill Plants in India have seen a phenomenal growth of around 33% CAGR in the last 5 years. In windmill operation, the capital cost ranges between 4.5 crores to 6.85 crores per MW, depending upon the type of turbine, technology, size, and location.
These are the top energy-based small business opportunities that you can consider to start. Analyze and choose the right business idea which fits you most and start your own business right now. Best of luck!
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.