Qualities and Assessment of Solar PV Business Opportunities

Question 1

What is a solar PV business opportunity defined as in the context of renewable energy?

Accepted Answer

A commercial opening where a technician or entrepreneur can provide solar products or services to meet an existing energy demand.

Question 2

In Nigeria, what specific factors create a massive market demand for alternative energy sources like solar PV?

Accepted Answer

Frequent power grid failures and the high cost of generator fuel.

Question 3

When does a simple solar business idea actually become a genuine "business opportunity"?

Accepted Answer

When it is commercially viable, realistic, and capable of generating sustainable income.

Question 4

Which quality of a good solar PV business opportunity ensures that the business can start small and expand over time?

Accepted Answer

Scalability

Question 5

Why is solar PV maintenance considered a highly sustainable business opportunity?

Accepted Answer

Solar panels have a lifespan of 25 years or more, ensuring a continuous, long-term market for maintenance.

Question 6

How can risks like falling from roofs or electrical shocks be managed in a solar PV business?

Accepted Answer

Through safety training, insurance, and quality control.

Question 7

Which of the following is an example of a "Solar-Powered Appliance Sales" opportunity?

Accepted Answer

Retailing specialized direct current (DC) appliances like solar water pumps and solar fans.

Question 8

In the standard assessment matrix, what does a score of 1 represent on the scoring scale?

Accepted Answer

Very Low / Unfavorable

Question 9

According to the lesson's completed ranking table, which solar business opportunity ranked 1st?

Accepted Answer

Solar Panel Cleaning & Maintenance

Question 10

Why did Solar Panel Cleaning & Maintenance rank 1st in the assessment table despite having a lower profit score than installation?

Accepted Answer

It requires very low start-up capital and has high technical feasibility.

Question 11

Which solar business opportunity has the lowest score for "Low Capital Requirement" (meaning it requires the highest start-up capital) in the ranking table?

Accepted Answer

Retail of Solar Components

Question 12

What is the total score of "Solar PV Installation Services" in the provided assessment table?

Accepted Answer

15

Question 13

What is the first step in the systematic procedure for identifying a viable solar PV business opportunity?

Accepted Answer

Identify Community Energy Needs

Question 14

What is the final step in the systematic procedure for identifying and launching a solar PV business?

Accepted Answer

Develop a Basic Business Plan

Question 15

Which of the following is NOT one of the standard criteria used to assess solar business opportunities?

Accepted Answer

Weather Forecasting Accuracy

Question 16

What is the main purpose of assessing and ranking business opportunities using a matrix?

Accepted Answer

To make informed, data-driven business decisions with limited resources.

Question 17

In the context of solar PV business opportunities, what does "Technical Feasibility" mean?

Accepted Answer

The business is practical to execute with accessible tools, components, and skills.

Question 18

What materials are required for the practical activity of drawing and presenting the solar business ranking table?

Accepted Answer

Cardboard papers, rulers, pencils, colored markers, and calculators.

Question 19

What practical activity are the students in this image demonstrating?

Accepted Answer

Presenting an assessed and ranked solar PV business opportunities table.

Question 20

If a solar business opportunity has a "Low Capital Requirement" score of 5, what does this indicate about the capital needed to start?

Accepted Answer

It requires very low start-up capital, making it highly favorable.

Strong work.

Leave this flashcard session?