It seems not a day goes by without hearing how the earth’s resources are depleting at a rapid pace. And with the depletion comes sky-high energy costs. Connecting our homes to the Internet so that we may use energy more efficiently is one way of combating this energy problem. But is it enough?
Researchers have been working diligently to discover alternative sources of energy that will be cheaper, cause less pollution, and protect the environment for future generations. Renewable energy, sources of energy that are gotten from direct and indirect sources and that can be renewed; sources from elements like the sun, wind and heat, as well as direct sources like photoelectricity, hold the keys to a better future.
Entrepreneurs who invest in the renewable energy industry stand to make a significant amount of money. They will also make the world a much cleaner and more affordable place to live.
If you’re thinking about starting a business that helps the environment, and that also gets the backing of the government in terms of taxes and funding, consider the following 5 ideas.
Solar Panels
Solar energy has actually been around since the 1860s, when William Grylls Adams, along with a student of his, Richard Day, discovered that when selenium was exposed to light, it produced electricity. But solar energy has gained prominence in the last three decades, when homes and office buildings began using solar panels for electricity.
Solar panel installation will become an even more incredible business opportunity. Entrepreneurs will need to undergo formal training in school or informal training from professionals already in the field. Training will require some out-of-pocket costs, but once you have the necessary training, there is no limit to the money you can make from helping consumers and other business owners cut their energy costs by tapping energy directly from the sun.
Bio-Fuel Production
Biofuels have been around for as long as there have been automobiles. In fact, at the beginning of the 20th century, Henry Ford planned to run his Model Ts with ethanol, and early diesel engines were run on peanut oil! So, what happened?
Back then, more and more discoveries of huge petroleum deposits kept gasoline and diesel cheap for decades, and the idea of biofuels was put away to collect proverbial dust. But, with recent rises in oil prices, along with growing concern over global warming caused by carbon dioxide emissions, biofuels are finally getting the attention they deserve.
Gasoline and diesel are actually very old forms of biofuels because they are made from decomposed plant and animal material that had been buried in the ground for millions of years. Biofuels are also made from decomposed plant material, however from plants that are grown today.
There are various ways to produce biofuels, which generally use chemical reactions, fermentation, and heat to break down the starches, sugars, and other molecules in plants. The leftover products are then refined to produce a fuel that can power cars, stoves, and just about any other machine.
Entrepreneurs can produce biofuel and sell it, or create their own inventions that run on biofuels, like cars, generators, or even bicycles.
Energy Auditor
As more Americans commit to reducing their footprint to save the planet (as well as their own wallet), they look for ways they can reduce their energy consumption at home and at work. Energy auditors inspect homes and businesses and advise on ways to optimize energy consumption and resources. These professionals will become even more in demand.
Power Storage
Our bodies store power in the form of fat so we can use it during times of famine (though most of us walk around with muffin tops, never really using that stored energy). Uninterrupted power supply systems, also known as UPS or inverters, are gadgets used to store energy. This energy can then be used when there is an absence of power, such as during a major snow storm.
This is a hot commodity used by hospitals, schools, information technology companies, high-end homes and numerous types of businesses. Starting a business selling these systems would be very lucrative.
Repair and Maintenance
All of those solar panels, wind turbines, UPS systems and more will inevitably break down at some point, and someone has got to be able to fix them. Starting a maintenance and repair business that focuses on the energy industry would be a very smart business idea.
As the need for renewable forms of energy grows, so will the opportunities for green-minded entrepreneurs.