June 23, 2024

How to Compete for a Competitive Advantage in the Solar Panel Sales Industry

Solar energy and renewable energy are two of the most exciting new technologies to arrive in the United States this century. Solar energy aims to reduce environmental impact, minimize consumer costs, and provide a fresh source of energy to obsolete systems. It is a positive step forward for the legacy energy sector. As a result of this expansion, the solar industry has become increasingly competitive over the last 10 years, with each company attempting to outbid the others in order to establish their brand and take the lead as the embryonic sector matures. The primary goal of solar operators in this industry is to achieve a competitive advantage in order to boost efficiency and lower expenses.

Operational Expenses Have Reached an All Time High

Profit has never been the primary business plan of the solar sector. In an ideal world, you land a turnkey project, buy the equipment at wholesale pricing, and install it yourself; nevertheless, after paying your operations crew and overhead, your ROI will be incredibly poor. Because of market competitiveness, you may occasionally make a profit from the installation. The PV sector’s actual operating margin is between 8 and 10%. (1) Furthermore, while commercial projects have far more lucrative contracts than residential ones, the sales process is significantly lengthier, as is the turnaround time for getting paid for your services.

Where Can a Supplier of Solar Panels Find a Competitive Advantage?

Where can you find that financial advantage to provide your PV company a competitive edge without sacrificing competitive pricing for your consumers or the long-term viability of your business model? In this case, an unexpected billing and payment software ally could make a significant impact in your ROI. Though it is unlikely to be the first thing that comes to mind, a next-generation payment system that reduces transaction costs, shortens time to cash, and boosts margin efficiency has the potential to transform the solar industry.

Affordable Payment Systems Could Be the Solution

Wouldn’t it be great to have the benefits and efficiencies of cards for digital payments at a much lower cost? In this case, a number of businesses have adopted a novel payment as a service business model. PayStand, for example, assists solar enterprises in saving a significant amount of money by employing technology to minimize total costs. Many firms may assist you in automating your receivables process by offering an eLockbox and billing gateway, regular payment alternatives, a virtual terminal for the back-office, invoicing, and accounting software connection, among other services. They are designed to reduce your time to cash and increase organizational effectiveness. Working with these payment system providers will provide you with a strong, targeted response to your financial demands, considerable savings in your payment flow, a lower DSO and cost, and, finally, larger margins. This is good news for the solar business, in our opinion.

Who Should You Call?

Orange Electric, a provider of electrical services, has discovered the solution to the competitive advantage conundrum: quality! We provide these solar panel installation services at a reasonable cost and do an excellent job. You can count on us to integrate an effective and appropriate solar panel array with your business or industrial location’s existing electrical system. Our solar panel specialists always adhere to the highest safety and quality requirements when offering solar panel services since they are bonded and insured.

Because our team has years of expertise providing high-quality electrical services and solar battery storage phoenix az in the area, we can make specific recommendations and perform the work on the first try. Our customer service standards are what set us apart! We can help you with all of your electrical needs, whether they are residential, commercial, or industrial, including service calls. So if you need solar installer denver co and in East Bench, UT, call Orange Electric right away.