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Solar Panel Business Slowly Growing
Steve Johnson opened his business, Lightwave Solar Electric LLC, in 2006. He offers a full-service solar panel installation and he has been involved in some of the largest projects around Tennessee reports the Tennessean.com.
The Nashville-based company, which also designs rooftop photovoltaic systems, posted $2.7 million in sales last year and expects to double that in 2010 as the alternative energy source gains wider acceptance among consumers.
Government incentives for businesses and homeowners to convert to solar systems have helped business, Johnson said, but the market is likely to remain tiny until the cost of solar power reaches parity with coal and other energy sources.
What changes do you see coming in the solar installation business?
More companies will enter the market. The market is changing in solar, so you have to keep up with the new technology. We do that, and that’s something you couldn’t do if you weren’t doing solar full time.
New companies will be good for the market. We’d like to see managed growth, though, with quality entries into the market. You want people dedicated to solar, not just rushing in to make a buck.
Screenshot from Lightwave Solar Electric
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Ed Wills, franchise consultant on August 10th, 2010 8:29 am
Great concept, we need more entrepreneurs entering the alternative energy field. It is both high risk and sure thing at the same time. High risk because the cost benefits analysis is still shaky, but sure thing because with rising fossil fuel costs alternative energy is the wave of the future.
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