The project we will be working on is Solar Energy for Agricultural Farming. The root cause of choosing this project is the increasing cost and usage of electricity for farming, which is not affordable by the farmers. In this project, we will be using solar panels fitted structures which will help farmers to cut down on electricity costs as majority of the farm equipment will be powered by these solar panels. The energy generated from these panels can also be used to power storage facilities. Funding for this project can be done through various sources such as, government subsidies, solar panel manufacturer sponsorship and the investment of the farmer. As per the business perspective, the profits/benefits achieved through this project will be classified in different ways, the farmer will benefit from paying high electricity bills, the manufacturer will profit from sales of their product, and we, as the project managers will work on commission from the manufacturer for increasing the sales of their products. This is a very large project with a high amount of risk of bearing financial losses for all the funding sources. But if this project succeeds, it’s a win-win for the farmers, manufactures and also the society.
