We are a mechanical company with HVAC as specialty and considering industry trends and the price of solar energy dropped 90% from 2009 to 2020, we know that renewable energy technologies have become cost-competitive with fossil fuels and as rising production and innovation in renewables increases their efficiency, the cost of production falls.

According to Pew Research Center, 39% of Americans considered installing solar panels before the US Government put forward a 30% tax credit in 2022. In Canada, the federal government has set the ambitious goal of reducing Canada’s greenhouse gas emissions

30% by 2030 and 80% by 2050. Much of this goal will be met through investments in sustainable solutions and renewable energy like solar panels.

HVAC industry solutions that will assist in meeting Canada’s policy goals include the following:

1. Advancement of energy efficient products, including:

a. Appliances that meet increasingly stringent standards

b. Advanced (“smart”) building control systems that optimize performance

2. Development and promotion of installation and design standards that improve HVAC system

performance

For STAT Climate Control Solutions, venturing into residential and commercial solar design and installation could be a strategic expansion. So with your help, we would like a comprehensive business plan to launch residential and commercial solar design and installation as a new offering and devise go-to-market strategies.

The business plan can be created by using the lean business model canvas or any business plan outline that the students like.

In this project, students will have the opportunity to further develop their skills in identifying and evaluating opportunities, crafting successful strategies, gauging resource needs, and proficiently presenting their plans to potential investors. This experience will substantially enrich their existing expertise in entrepreneurship and business management.

By the end of the project, students would complete the following activities:

• Market research - industry target customer
• Problem - what are the top problems we want to address? What are the current solutions to these problems?
• Solution - outline a possible solution to each problem
• Key metrics - like the key metrics that show how our business is doing
• Unique Value Proposition - single, clear, compelling message that states why we are different and worth paying attention to. List your X to Y analogy, e.g. YouTube to Flickr for videos
• Unfair advantage - an advantage we possess that cannot be easily copied
• Channels - list path to our customers both inbound and outbound
• Customer segments - list our target customers and users. List the characteristics of our ideal customer
• Cost structure - list our fixed and variable costs
• Revenue streams - list our sources of income

Please find an example of a business plan outline below:

1) Executive Summary

2) Company Description

3) Industry Target Customer and Competitive Analysis

4) Product/Service plan

5) Marketing Plan

6) Operation and Development Plan

7) Management Team

8) Critical Risk

9) Offering

10) Exit Strategy

11) Financial Plan

Final deliverable is the business plan.

Students will work directly with the CEO of STAT Climate Control Solutions to gain the following skills:

1. Market Research & Analysis: Conduct comprehensive research on potential markets for STAT Climate Control Solutions.
2. Commercial Viability Assessment: Evaluate the market readiness and commercial potential of identified opportunities.
3. Strategic Planning: Designed communication plans and strategies tailored to engage and collaborate with ideal prospects.
4. Project Management: Managed timelines and deliverables to ensure the successful completion of the intrapreneurship project.
5. Team Collaboration: Worked closely with a diverse group of peers to achieve common project goals.
6. Presentation Skills: Presented findings, insights, and recommendations to senior members of STAT Climate Control Solutions.
7. Diversity and Inclusivity Awareness: Worked in a vibrant environment that prioritizes diversity and inclusivity, gaining firsthand experience in a culturally rich setting.