The energy sector has been an essential driver of global economic growth, providing fuel to power the rest of the economy. Companies in the energy industry are classified based on how the energy is sourced, such as non-renewables or fossil fuels, and renewables, such as solar.

Unfortunately, due to the Ukrainian crisis and the western countries reducing their dependency on Russian oil and gas, the energy price has heightened significantly. For instance, households in the United Kingdom must pay around 750 Pound a year more for electricity and gas due to price rises. From April 1, 2022, the United Kingdom households on standard tariffs will see an average increase of from 1,277 Pound to 1,971 Pound per year.

However, an investor must be aware that the money required to invest in the oil and gas industry is not the kind of money that individual investors can quickly raise.

It requires loads of money to become a significant player in the oil and gas industry. As an individual investor, you can consider investing in businesses related to oil and gas, for instance. You could invest in oil exploration and production, servicing, liquefied gas, etc. The return on investment in this industry seems to be one of the highest compared to other sectors.

You can choose from the listed channel through which you can begin to invest in oil and natural gas. Whichever choice you make will surely be to your advantage despite the volatile nature of the oil and gas sector. There are few business ideas that an investor or aspiring entrepreneur interested in starting a business can choose. Examples include filling station business, retailing of cooking gas business, legal services in the oil and gas industry, crude oil shipping company, oil spillage cleaning business, a private petroleum refinery business, oil and gas shares investment business, etc.

While companies will still produce fossil fuels in the near future, renewables could account for almost 70 percent of the world’s energy mix. Following are examples of energy business opportunities for entrepreneurs:

• Electricity resale at wholesale prices
• Solar panel sales and distribution
• Bio-fuel production
• Power storage systems
• Photovoltaic systems
• Consultancy and education
• Repair and maintenance
• Research and product development

As the effects of human activity on the planet reach their boiling point and the Ukrainian crisis, which led the western counties to reduce their dependency on Russian oil and gas, there is an unquestionable need for all industries to leave fossil fuel behind in favor of renewable energy sources. Renewable energy is produced from natural resources that are capable of replenishing themselves. Fossil fuels are extremely limited in quantity and release harmful greenhouse gases and carbon dioxide into the earth’s atmosphere when consumed.

Western countries encourage renewable energy; there’s no better time to create an energy business or invest in renewable energy sources than now. Since 2009, the European Union has subsidized green energy initiatives and enterprises to bring cheap and efficient renewable energy sources to the public. As a result, the renewable energy sector in Europe is growing at an exponential rate, more so than any other energy source. If you’re interested in taking advantage of this lucrative industry, the following are some profitable business ideas for you to consider:

Solar Power Heating & Cooling Systems

Most European countries are experiencing a long period of cold winters and short warm summers, which means there will always be households needing efficient heating and slightly less cooling. As the average cost of energy consumption continues to rise, western governments are increasingly encouraging their entrepreneurs to search for renewable energy alternatives to lower energy bills and reduce their dependency on Russian gas. The solution to both issues is to create a solar-powered heating and cooling business, reducing gas consumption and offering up to 70 percent savings on monthly electricity bills. The business of selling these products and offering installation services is exceptionally lucrative since it’s not just private residences that need them; there are also clients in the hotel, restaurant, and retail industries.

Bio-fuel Manufacturing

Bio-fuel is mostly produced from organic waste. It’s a much cleaner and sustainable alternative to fossil fuels. Examples of this bio-fuel include green diesel, ethanol, and bio-diesel. This substance has plenty of uses in the transportation, energy generation, and even cooking sectors. It takes four materials to produce bio-diesel: waste vegetable oil, methanol (racing fuel), sodium hydroxide (household lye), and water. Likewise, there are plenty of profitable business opportunities for you to explore in these areas.

Sustainable Transportation

Diesel-powered motor vehicles are harmful to the environment, but they’re also becoming more expensive to maintain and use daily. The most significant expense that vehicle owners shoulder also happens to be the least eco-friendly energy source: diesel fuel. Sustainable Transportation refers to any means of green transportation and has a low impact on the environment. Sustainable transport is also about balancing our current and future needs.

Sustainable transportation products, such as bicycles, electric cars, and scooters are increasingly becoming the more prevalent and cost-effective option, making it a profitable market for you to enter.

Energy Auditing

Energy Auditing is a business for identifying energy efficiency potential and measures. An energy audit is an essential business for researching energy efficiency measures and for assessing their financial viability, which can be carried out at different levels

Energy auditing involves examining energy use in commercial or residential buildings to identify what clients can do to reduce and create more sustainable energy choices. Many countries worldwide, especially in the European Union area, require mandatory energy audits in businesses and households so that companies will boom. There will always be people in need of an audit.

Green Consultancy

A green consultant business offers consulting services related to sustainability, conservation, and similar issues related to energy efficiency. Companies have a strong incentive to go green to meet evolving regulations and improve their image.

If you aren’t interested in buying or selling green products or services, you should consider a career in green consultancy instead. You’ll be selling your knowledge and expertise to clients who are looking to take advantage of renewable energy sources. This is the perfect business to start in a different country since it doesn’t require capital and equipment. You’ll need insight, superior marketing skills, and excellent communication skills to succeed.

 

To learn more about the business opportunities, you can purchase THE FIRST INVESTOR book and receive a discount by clicking on The First Investor