In 2014, the solar industry reached a milestone as global installations surpassed 500 GW, making it one of the largest industries in the world. It’s an industry worth roughly $26 billion annually and is projected to grow to $52.9 billion by 2020.
If you’re interested in entering the industry, you’ll need to decide which vertical to specialize in and whether you want to be an installer or a merchant. While there are numerous benefits to working in the solar industry, it’s not for everyone. This article will go over some of the most common concerns that people have before they decide to take the plunge.
Paystubs Aren’t Going to Cut It
The first and most obvious concern for anyone thinking of pursuing a career in solar is the money. Since energy is generally sold in bulk, prices can be pretty high and can vary greatly from one area to another. As a result, it’s common for employers to ask job applicants for their paystubs, as they need to verify that the person is indeed capable of paying back their loans. The pay in the industry is generally high, starting at around $60,000 per year and going up to $150,000+ per year, with the opportunity for bonuses and commissions providing excellent upside. If you’re looking to break into the industry, the first thing you’re going to want to do is establish yourself as a reliable employee – a good pay stub can speak wonders in terms of establishing credibility.
Short-Lived Bonuses
Another thing potential employees need to be mindful of is the short-lived nature of most bonuses in the industry. Since energy prices can and often do change, it’s not uncommon for employers to offer temporary payments and bonuses in the form of either energy credits or cash. While this can be appealing, since it provides instant gratification, it also means that you might not be able to depend on these payments for long. In some cases, these bonus payments can be as little as a couple hundred to a thousand dollars, which is definitely a tempting offer, but something to be aware of if you’re looking for long-term security.
High Turnover
One of the downsides of any industry is that employees are frequently obligated to look for new jobs. As a result, many people in the industry are either constantly job-hunting or have to settle for sub-par employment. The instability in the industry is also illustrated by the fact that around 400,000 people are currently out of work, which means there’s always someone looking to fill a spot. If you’re looking for a stable career in the long run, enter the industry at your own risk.
No One To Lean On If You Need Help
If you’re looking for a stable career with good pay and benefits, you’ll want to work in the solar industry, as there’s nothing quite like having someone on the payroll who can provide assistance if you need it. The downside is that it’s a fairly individualized industry, which means you’re on your own if you want to get things done. You won’t have a direct manager to help you navigate the intricacies of the job – you’ll have to learn how to get the job done yourself. If you’re looking for someone to lean on, consider pursuing a career in a more conventional energy industry.
Pricing Can Varying Widely
Pricing for energy can vary from place to place, timing of the day, and even the quarter. In some cases, energy can be as high as $30/MWh and in other places, it can be half that price or more. Since solar energy is directly related to the price of energy, it’s not uncommon for solar employees to be asked to price-gauge potential clients. This is especially the case in places where energy is more expensive, as in the summertime – so during the hottest times of the year, you’ll want to be prepared to price-gauge accordingly. It’s also worth noting that if you’re new to the industry, it’s common for prices to be reduced during special times of the year (like the early morning or late at night) when demand is low and can be used for power generation – this can make your job more appealing as you won’t have to deal with high electricity bills all year long.
Roughly 80% Of The Work Is Up-front
Another major difference between being a Solar Energy Dealer and a Regular Energy Dealer is that the vast majority of the work is up-front. Since you’ll be working directly with electricity providers and potential clients, you’ll need to get in touch with them and set up meetings to explain the product and give them a tour of your facilities. Once they’re convinced you’re a reliable and honest broker, they’ll hand over the contracts and paperwork to complete the sale. From there, you’ll need to monitor the contract and make sure everything is recorded correctly, all the while following up with the client to make sure everything is completed on time.
As you can see, there are a lot of differences between being a Solar Energy Dealer and a Regular Energy Dealer – not all of which are positive. If you’re looking for an exciting career or a fresh new challenge, the solar industry is a great place to be. However, if you want to be sure you’re heading toward a long-term and stable career, you might want to consider another option.