How To Start Solar Panel Manufacturing Business
The solar panel manufacturing business is one of the fastest growing business in India and has grown by almost 50% in the past decade alone. Solar energy is a renewable energy source and won’t run out like fossil fuels. It is not only eco-friendly but also cost-effective undoubtedly. Hence government has announced several policies and incentives such as the PLI scheme to encourage solar panel manufacturing business in India. The solar energy market was valued at USD 59 billion in 2020 and is expected to reach USD 230 billion by 2028 globally. Several manufacturing industries are installing solar rooftops due to environmental regulations has provided a vast market for solar panel manufacturing industry owners. For complete setup of solar panel manufacturing plant, it requires many components like a solar panel, DC distribution box, battery, panel stand, wire, tracking structures, etc. Solar panels are used to collect energy from the sun to convert it into electricity with the help of solar cells arranged in it. Read this blog to know the step-by-step procedure to start a solar panel manufacturing business.
Raw Materials Required To Start Solar Panel Manufacturing Business:
- Solar cells
- Aluminum frame
- Glass sheet
- Wire
- Plexiglass
These are the raw materials required to start solar panel manufacturing plant.
Machines Required To Start Solar Panel Manufacturing Business:
- Solar stringer machine
- Solar cell layup machine
- Sun simulator
- Solar laminator
- Electroluminescence tester
- Silicone dispenser
- Automatic station for manual bussing
- Plastic cutting machines
These are the machines required to start solar panel manufacturing business.
Solar Panel Manufacturing Process:
- Polysilicon is obtained from quartz with the application of carbon arc in an electric arc furnace.
- The obtained polysilicon is added with boron at high temperature to form p-type semiconductor material.
- By casting molten polysilicon in a block, an ingot or silicon block is formed.
- To obtain wafers, ingots are separated using wire saws.
- Wafers should be subjected to a solar etching process to produce hexagonal or rectangular-shaped wafers which can be fitted together in solar cells.
- After cleaning the wafers to form an N-type semiconductor layer, they are introduced to a phosphorous diffusion furnace.
- An anti-reflective coating is applied to the top part of the cell to reduce the loss of sunlight.
- Electrical contacts are used to connect solar cells.
- Aluminized conductive material is deposited on the back surface of each cell by displacing the diffused phosphorous layer.
- Each solar cell is then tested and arranged in a framework to form a solar panel. 48 solar cells panel is good for small residential roofs while 60 solar cells are the standard size.
Types Of Solar Panels :
1) Monocrystalline solar panels:
Monocrystalline solar panels are the oldest type of solar panels and comprise monocrystalline solar cells made out of pure silicon. These cells are expensive as they have higher power output, occupy less space, and tend to last longer. These panels will have a large surface area for better absorption of sunlight and have an efficiency of between 18 to 24 percent. Monocrystalline solar panels have greater heat resistance and they last up to 30 years. Entrepreneurs looking to start solar panel manaufacturing plant can start this monocrystalline solar panels production.
2) Polycrystalline solar panels:
These panels are also called as multi-crystalline panels and are considered as mid-range panels as they are less efficient compared to monocrystalline panels and are easily affordable. To make wafers, raw silicon is melted and poured into a square mold. Polycrystalline solar panels are made up of poly fragments of silicon crystals and do generate much electricity compared to monocrystalline panels as there is less freedom for the electrons to move in poly fragments of silicon but the process involved in solar panel manufacturing plant is extremely simple and faster.
3) Thin-film solar panels:
These solar panels are thin and flexible as the cells used for these panels will be 350 times thinner than the crystalline wafers used in the other 2 types of solar panels. They are made from layers of semiconducting materials such as silicon, copper indium gallium selenide, and cadmium telluride and have an efficiency of around 12 percent and tend to degrade more quickly compared to crystalline panels. The semiconductor layer is placed between conducting layers, with glass on top making it look attractive and can be used as solar roof tiles. Due to its lightweight construction customers can save installation costs making it the most affordable panel and recognized as a second-generation solar panel.
Steps To Start Solar Panel Manufacturing Business :
1) Detailed Project Report:
A detailed project report provides you an excellent clarity by helping you to estimate the cost required to start solar panel manufcturing plant, profit projections, description of the technology to be used, suitable marketing strategies, components needed to run a successful industry, etc.
2) Finance arrangement:
Entrepreneurs can utilize government subsidies and bank loans for financial assistance to start a solar panel manufacturing business. DPR plays a critical role to secure a bank loan and also to be eligible for subsidies.
3) Register and get necessary licenses and permits:
Bureau of Indian standard and Ministry of new and renewable sources of energy under the compulsory registration scheme, the PV modules need to undergo testing from a NABL testing lab and should clear all the testing parameters, and must comply with all the terms and conditions.
4) Infrastructure:
Entrepreneurs can lease, buy or build an infrastructure to start solar panel manufacturing business. It is advisable to have an infrastructure at the location having good convenience for sales and marketing. Once the infrastructure is ready, the next step is to procure machinery and install them.
5) Machinery and raw material procurement:
Starting a solar panel manufacturing business requires a wide range of machinery and the type of machinery depends on the type and scale of production. Industries can choose manual or semi-automated or fully automated production processes. Consulting an Machinery expert before selecting machinery is extremely important.
6) Hire Trained Workforce:
The solar module manufacturing industry requires a trained and skilled workforce to increase production and efficiency. Hence new enterprises need to conduct regular training sessions for laborers to improve their skills and reduce manufacturing errors in the solar panel manufacturing plant.
7) Marketing and Branding:
Marketing is the last phase but it decides the success of solar panel manufacturing business. The market for solar panels is growing all over the globe at a rapid phase and manufacturers must build efficient market strategies to conquer large market share. MNCs and manufacturing units are installing solar panels on their rooftops and have provided huge market opportunities.
Solar Panel Manufacturing Business Plan:
It is important to have a well defined solar panel manufacturing business plan before starting the production unit. A good business plan should outline your goals, market analysis, target audience, financial projections and marketing strategies. You should also consider investing in the latest technology and equipment to ensure that you can produce high quality solar panels efficiently. It is important to create a detailed financial plan that includes production costs and expected revenue. Before starting a solar panel manufacturing business,It is important to understand the size of the market, consumer preferences, latest trends, etc. You should also consider investing in the latest technology and equipment to ensure that you can produce high quality solar panels efficiently. You need to develop a comprehensive marketing and sales strategy that can help you reach your target customers effectively.
Future Growth of Solar Panel Manufacturing Business:
To encourage solar panel manufacturing plants to boost production and support local manufacturers, The Indian government has increased the import taxes on solar panels by 30%. The central government is providing bank loans and manufacturing subsidies for entrepreneurs to start solar panel manufacturing business and is aiming to install solar plants of 280 GW capacity by the year 2030. A total of INR 24,000 crores is allocated under the PLI scheme, including 19,500 crores allocated in Budget 2022 announced by Finance Minister Nirmala Sitharaman. Hence solar panel manufacturing in India is set to soar by 400% by 2025 and it is considered as one of the most profitable manufacturing business ideas in India.
Are You Interested To Start Solar Panel Manufacturing Business?
If you are an entrepreneur and looking to start a solar panel manufacturing business, register in SolutionBuggy and get all the services from concept ideation to complete industry setup. SolutionBuggy being India’s largest service provider in the manufacturing domain, help you thrive amid various market challenges and seize the opportunity. Our solar consultants with hands-on experience in the solar module manufacturing segment, provide cost-effective solutions by maintaining high product quality. SolutionBuggy provides a competitive advantage to industries in their arena by offering crucial services in every step of commissioning a solar panel manufacturing plant.
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