Solar Energy Business

How Much Does It Cost To Start A Solar Energy Business? (In 2024)

Pat Walls

•

Updated: January 18th, 2023

Looking to start a solar energy business?

But curious about:

how much it costs to start a solar energy business?
what are the typical solar energy business startup costs?
or the actual cost of starting solar energy businesses?

Well, we have the data to prove it, supported by real solar energy businesses and how much they actually cost to start.

Let's go over it.

Learn more about starting a solar energy business:

Where to start?

-> Pros and cons of a solar energy business

Need inspiration?

-> Other solar energy business success stories
-> Marketing ideas for a solar energy business
-> Solar energy business slogans
-> Solar energy business names
-> Solar energy business Instagram bios

Other resources

-> Solar energy business tips

Equipment & Supply Expenses

Starting a solar energy business may require purchasing some equipment, whether that's for producing the product or packaging the goods, or equipment needed in the back office.

Cost	Required?	Min Cost	Max Cost
Cleaning Supplies ➜	Optional	$63	$200
First-aid Equipment ➜	Optional	$3	$500

Business Formation Fees

There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.

Cost	Required?	Min Cost	Max Cost
Set up business: LLC & Corporations	Required	$50	$500
Small Business Insurance	Recommended	$500	$2,000
Permit and License Fees	Optional	$50	$700
Trademark	Optional	$0	$700
Lawyer Fees	Optional	$0	$1,500
A Patent ➜	Optional	$5,000	$15,000

Software Expenses

Your solar energy business needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost	Required?	Min Cost	Max Cost
Accounting & Invoicing Software	Recommended	$0	$50
Email marketing tool	Recommended	$0	$100
Internal Communication Tool	Recommended	$0	$20
Design Programs & Software	Optional	$0	$50
Payroll Software	Optional	$0	$200
Social Media Management Tools	Optional	$0	$50
IT Support ➜	Optional	$150	$2,000

Office Space Expenses

It will be your call to determine if you need office space. It is not a requirement but may be necessary as your solar energy business grows.

Cost	Required?	Min Cost	Max Cost
Rent ➜	Optional	$0	$5,750
Utility Costs For Office Space ➜	Optional	$0	$1,150
WiFi & Internet ➜	Optional	$0	$100

Employee & Freelancer Expenses

Cost	Required?	Min Cost	Max Cost
Payroll Costs & Fees ➜	Optional	$150	$250
Employee Hiring Expenses	Optional	$1	$2
Employee Rewards ➜	Optional	$0	$100

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost	Required?	Min Cost	Max Cost
Domain Name ➜	Required	$12	$200
Website Hosting Costs ➜	Required	$0	$300
Website Builder ➜	Recommended	$10	$500
Business Email Hosting Service ➜	Recommended	$1	$15
Website & Live Chat Tool	Recommended	$0	$200
Web Designer ➜	Optional	$200	$6,000

Inventory Expenses

If you sell a physical good, you'll likely have to start with some inventory.

Cost	Required?	Min Cost	Max Cost
Upfront Costs For Inventory	Optional	$300	$5,000
Inventory Storage	Optional	$0	$5,000

Vehicle Expenses

Cost	Required?	Min Cost	Max Cost
Mode of Transporation	Optional	$0	$10,000
Commute cost	Optional	$2	$4

Advertising & Marketing Costs

Cost	Required?	Min Cost	Max Cost
Business Cards ➜	Optional	$0	$50
Customer Research & Surveys	Optional	$0	$300
Tradeshow costs	Optional	$0	$5,000
Business Signage ➜	Optional	$75	$2,486
Direct Campaigns, Printing and Mailing	Optional	$0	$300
Affiliate Marketing Commission & Fees	Optional	$0	$250
Press	Optional	$0	$500
Google Ads	Optional	$0	$300
Facebook & Instagram Ads	Optional	$0	$350