Nowadays it is essential to have multiple income streams especially after the covid crisis in which a lot of people lost their jobs and faced financial disaster.
There are many unique and innovative ideas for earning money and a person can even earn from its rooftop. You won’t believe it? So let us now discuss some of the best ways of earning from the rooftop:
Rooftop Business Ideas
#1 Rainwater harvesting
Harvest rainwater and reduce your water bills. The government is providing heavy subsidies for installing rainwater harvesting systems in the house and in many areas households get exemption from water bills up to a specified limit.
Installing rainwater harvesting systems is very cheap and costs about $200 (after adjusting subsidies) for a normal household. In about 5-6 years your cost of installing will get recovered and you will save a lot of money for the rest of your life.
You can contact companies like Watercache for installing it.
#2 Solar Panel
Install solar panels in your house if you are tired of paying the electricity bill every month. Solar cells are made up of silicon due to their best electric, mechanical and thermal properties. Silicon is costly, that is why the cost of installing solar panels in homes can range from about $2,000-$3,000.
But don’t worry because it is only a one-time expense the government is also providing huge subsidies. Generally, electricity bills comprise about 5-6% of the total expenses in a month by an average household. Saving it will definitely help to increase saving and improve the standard of living.
Apart from that, you can also earn money by selling excess electricity to your neighbors and in some cases even to the electricity supplying or regulatory board.
Contact your electricity regulatory board for authentic information.
#3 Terrace farming
Terrace farming is a technique of growing crops on the terrace and it is becoming more popular day by day. This is the most time-consuming as well as the most profitable business idea on our list.
Terrace farming is a lot more similar to normal farming, in addition to it you need to build a greenhouse on the rooftop and sow seeds in a polybag, install a heating resistor and amplifier for controlling temperature. You can use drip irrigation methods for water supply and pesticides for controlling insects.
#4 Install mobile tower
Internet and calling provider companies need to install mobile towers in various locations and it becomes very costly and unsafe for them if they rent a large piece of land and install it in the open.
That is why they prefer to install on the rooftop and you can take advantage of this opportunity by providing your roof for it. Generally these companies pay households more than the rental cost of the house to ensure safety of their mobile tower. It means you can live rent free by just installing a mobile tower.
#5 Billboard advertisement
Advertise on your rooftop and earn money from it. If you live in a crowded place, you earn a lot by simply installing a billboard advertisement on your rooftop. The income from advertisements is highly dependent on the location. It generally starts with $100 per month and goes up to $1500-$2000 in some cases.
You can contact companies like Clear Channel Outdoor for finding advertising opportunities.
How to arrange funds?
The government generally provides subsidies for most of the businesses mentioned above. Apart from that, you can take a bank loan at a low-interest rate (since some businesses like solar panels, rainwater harvesting, etc are eco-friendly banks charge less interest in them) or start these in partnership with your neighbour for arranging funds.