Beginner’s Guide on Starting a Renewable Energy Business in the United Kingdom

All kinds of businesses require energy. The renewable energy business makes use of tools, techniques, and labor to build machines that generate energy from renewable sources. The world is on the trend toward a greener, and therefore many entrepreneurs are interested in starting a renewable energy business. The solar industry is the most common example of a renewable energy business that has huge benefits to the entrepreneurial world.

There are lots of renewable energy sources from which you can draw energy and use them to start a business. Wind energy, solar energy, hydro energy, biomass energy, tidal energy, and geothermal energy are some examples of renewable energy. You can use this energy to generate electricity from wind, sun, flowing water, tides, or heat from the earth’s crust. The most common benefit of producing electricity from renewable resources is that it’s environmentally friendly and enhances the country’s economy.

A renewable energy business provides green services to the modern world. And many people, business settings, corporations are demanding cleaner alternatives for energy. For this reason, the renewable energy business is taking the market and gaining huge profits by satisfying consumers. Thus, by starting a renewable energy business, you’re not only gaining profits but also resolving the energy problems of the world.

The business of renewable energy isn’t limited to the generation of electricity. In fact, it’s more than that. For instance, supplying or distributing, storing, conserving, or rather installing, consulting, and repairing can be done as part of the business. Like any other business, you also need to go through some processes before starting a renewable energy business. In this article, you’ll learn about those processes and more about the renewable energy business.

 

Tips to Start a Renewable Energy Business in the United Kingdom

The world has a huge demand for the renewable industry. So, this is the best time for you to start a renewable energy business. Here are the best practices you can incorporate for the start-up.

Know Your Niche

As you already know that the renewable business is not just owning the hydro-company or solar company. You can also help to enhance the existing renewable technology or engage in providing renewable energy services. Therefore, being focused on a specific niche can make your business more competitive and well-established.

Seek Local Incentives

Green services are beneficial to the environment. This is why many local states or governments are providing incentives to encourage the renewable energy business. Do research about such funding and incentives and grab the opportunity to start your own business.

Don’t Give Up on the Challenges

Every business faces challenges during its growth. And the same applies to this business too. You have to compete with your own business competitors and, moreover, non-renewable energy-producing businesses. Make your services and products affordable to the consumers and watch your business grow.

Do Research

Studying your startup can make you a successful entrepreneur. You’ll get to know whether a similar business exists or not. If there are, you can find their location and fundamentals of business. It’ll help you develop a strategy for your own business.

Furthermore, if you’re new to the renewable energy corporate world, 3E Accounting helps you get a depth understanding. You can also type in “corporate service provider near me” and seek help regarding business matters.

 

Stepwise Registration Guide on Starting a Renewable Energy Business in the United Kingdom

The United Kingdom government is highly concerned and committed to the good establishment of the renewable energy industry. Like with other businesses, there are a few steps to register your renewable energy business in the United Kingdom. Usually, registration procedures differ depending on the microgeneration system. Here is a guide to company registration that helps you with your business startups.

Every business should be registered to run commercial activities smoothly. In the same manner, the renewable energy business should be registered with the secretary of the state. It makes your business legal. Moreover, you should also register for sales tax and payroll taxes if you are hiring employees from the same state.

If your business has microgeneration systems not exceeding 50kilowatt, it’s mandated to be certified by the MCS (Microgeneration Certification Scheme). For business with systems exceeding 50 kilowatts, are accredited by the alternative process. These procedures are called ROO-FIT and are based on the accreditation of RO (Renewable Obligations).

Besides, there are different processes for the registration of business systems that have already been registered before some dates. For such a case, it’s wise for you to get guidance from company incorporation services in the United Kingdom. The professional team helps you get through the process of obtaining letters from Ofgem and other necessary details.

 

Different Licenses and Permits are Required for Starting a Renewable Energy Business in the United

State and Solar Contractor License

Whether the state license is necessary for you or not depends upon the work activities and solar panels you’ve incorporated into your business. Likewise, if you provide services such as solar installation, it’s essential for you to have a solar contractor license.

Basic Business License

There is no specific licensing for the renewable energy business. Therefore, the license from the local state or council makes your business liable to carry out commercial activities.

Certificate from MCS

The MCS is a quality assurance scheme which is also known as Microgeneration Certification Scheme. MCS examines the standard and quality of your products. Moreover, it also investigates the consumer’s complaints, if any.

Permits or Membership of RECC

If your business is related to renewable energy installation activities, RECC permits indicate high standards of your business.

Peddler License or Vendor License

The vendor’s licenses are required if you’re providing door-to-door service to customers. It’s also mandatory for the individual to have a driving license to operate the vehicle.

Also, there are many associations of renewable business energy such as the solar trade association, renewable energy association, etc. You can get membership in such an association that will surely benefit your business.

Conclusion

To sum up, the renewable energy business is flourishing in the modern world. In addition, the government also encourages the development and establishment of renewable business energy. Therefore, it’s a good opportunity for entrepreneurs to get into the business and make profits.

If you have any doubts regarding the essentials and fundamentals of business, contact 3E Accounting.