Date of Defense


Date of Graduation



Finance and Commercial Law

First Advisor

Bolortuya Enkhtaivan

Second Advisor

Kyle Shroufe


The goal of this thesis was to obtain viable states of business for “BSB Solar Solutions” to target as potential places of business through analysis of their respective solar markets. BSB Solar Solutions will focus on providing renewable alternative energy solutions in the form of photovoltaic (PV) solar systems. Acting as a full fledge general contractor or EPC (Engineering, Procurement, and Construction), BSB will remove the complexities and strenuous process associated with converting to solar energy for investors. The analysis can be spilt into two main parts, economic and market. The economic analysis sought to find an energy need and prove the sustainability of PV solar energy as a solution. The analysis encompasses photovoltaic solar as a whole and evaluates the industry’s current standing, places of relative growth and areas of potential. Topics amongst those covered were, the Federal Investment Tax Credit, recent tariffs imposed on materials and its effects on the solar industry, panel efficiency growth of monocrystalline and polycrystalline panels, net metering and state mandated renewable energy policies. The market analysis composed the second portion and used three different categories across twelve different aspects of solar as its criteria to evaluate all 50 US states. The three categories were separated into Solar Policy Factors, Solar incentive Factors and Outcome Measurements Factors. Policy Factors included: Renewable Portfolio Standard, Solar Carve Out, Electricity Prices, Net Metering Policies and Interconnectedness. Incentive Factors used were: Solar Rebates, Solar Tax credits, Performance Payments, Sales and Property Tax Emptions. Outcome Measurements were divided into Average Payback Period and Internal Rate of Return. Each factor was given a weight and used a scale to determine each states grade or score. The states with the best scores were then crossed analyzed with a second set of criteria to help distinguish each state, as better or worse places of business. Amongst those evaluated were: number of solar installations, current number of megawatts installed, percentage of the state’s energy electricity currently from solar, growth projections over the next five years with rank. All non-rank figures where then adjusted for population density to account for the variation in state size and population. Each of the final states selected was then further evaluated to narrow the results to the states that represented the most viable business opportunities.

Access Setting

Honors Thesis-Restricted