Solar Panel Market Analysis in Saudi Arabia

This assignment delves into an analysis of the solar energy market in Saudi Arabia. It examines the market's growth opportunities and explores how solar panels can serve as a significant energy source for both businesses and households. The analysis also assesses the impact of economic development on the business landscape and highlights the potential of Al Khaleej Energy Solutions (AKES) within this market.

RESEARCH
REFLECTION
REPORT

RESEARCH REFLECTION REPORT
(should contain the details given below)
Please type your responses in the spaces below:
Research Methods & Processes
How and why have you chosen/decided
on the research methods and processes
which you are using/have used for the
development of your Major Project?
How would you describe these to:
1) a reader of your Major Project and/or
2) a future employer
(max. 550 words)
In order to analyse the feasibility and scope of
household solar panels in Saudi Arabia I undertook
a well structured research study which effectively
helped me in attaining a well defined idea about
different aspects of the analysis. I applied
appropriate research tools and techniques to develop
a clear picture of the overall analysis. This helped
me in understating the research issue in a clear
manner. Consumers are focusing upon more
renewable energy in comparison of using fossil fuels
which is non-renewable sources.
I adopted secondary data collection method to
collect data and information for undertaking the
study. This was appropriate for me as my business
plan focused on analysing the scope of solar panel
demand in Saudi Arabia. This helped me in
collecting some of the crucial information regarding
and utility cost of the country, solar panel usage,
efficiency in alternate usage for electricity etc. was
effectively analysed and attained for the study. I
referred to different sources of information to collect
and represent the data in an authentic and reliable
form. Journals, books, internet, newspaper, past
research information etc. were used to collect the
authentic information. In addition to this, periodic
reports of market for solar panels for domestic
households energy supply were also used to attain
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the valid information.
It was an exploratory research which demanded a
detailed analysis of different factors which was
adopted for the study. Different aspects of research
models and growth aspects of the business were
analysed and studied through application of models
in the study. I evaluated that the demand for solar
panel is widely rising in the economy. I structured
my over all study in a well defined manner and
determined the tools and models which will help me
in determining the proper plan for the start-up
venture. This approach helped me in understanding
the significance of theoretical tools in practical
business scenario. This was however a challenging
aspect of the research as well because analysing the
tools for every aspect in advance demanded a lot of
brainstorming.
Analysis of research approach was a crucial task for
the study. I adopted both qualitative as well as
quantitative approach in the study to attain the
research objectives. It helped in attaining clear and
appropriate information for the research. The
quantitative data was attained in the form of
financial information which was assumed and
effectively analysed to developed a clear idea about
the subject. However qualitative data played a
significant role in the analysis. It helped me in
assessing the theoretical and academic information
efficiently to develop an in-depth understanding
about every aspect of the start-up business. Initially
it was difficult for me to apply theories in business
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planning however with a little effort the process
helped me in overcoming my weakness and created
a significant picture about how to analyse the
success aspects of the study through applying the
models.
In addition to this it was evaluated that data
compilation and analysis was one of the most
crucial aspect of the study as it delivered a clear idea
about the data to be undertaken. n the current study
of creating an effective market for solar panel for
domestic households within Saudi Arabia,
secondary data collection method was undertaken.
This helped me in attaining vast and varied
information. I critically examined every information
for the research and undertook the information
which was directly significant and important for my
study. It helped me in creating a clear and effective
analysis of the information essential to complete my
study plan.
Literature & sources
1) What are the most important
theories/literature sources /evidence
sources which you are using to justify
your research and your Major Project?
2) Why are these sources important and
fundamental to your work?
(max. 550 words)
My business plan focused on evaluating the solar
panel usage for domestic household energy supply
to reduce utility cost in Saudi Arabia. The stated
topic was theoretically known to me however the
detailed information about the same was not
available with me. The business concept chapter
was undertaken to critically analyse the business
concept in an effective manner and develop a clear
understanding about theories and evidences
associated with the same. This section enhanced my
knowledge and understanding clearly about the
topic. Initially analysed the business concept in
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detail. I evaluated that how a solar panel operates
what aspects of the solar panel helps in substituting
fuel with energy supply and also the aspect of
application of the concept in different regions.
In order to develop a feasible business plan I
initially evaluated the opportunities and threats
associated with solar panel business. It helped in
examining that solar panels are highly useful for
attaining consumer needs and demand as an
effective alternative to fossil fuel.
I learnt the working process of solar panel in the
market which helped me in understanding the
technical aspects of the product. I was not efficient
with technical skills but undertaking Literature
aspect helped me in developing my technical skills
for the project. Moreover it was also effective for
me in creating a well defined knowledge regarding
and consumer needs and demands for solar panels in
Saudi Arabia. The literature section of the study was
also useful for undertaking the competitive analysis
of the industry the chosen country. I evaluated the
level of competition and usage of solar panels in the
country selected which was an effective and well
defined aspect of growth and development for me. I
enhanced my research skills to learn and understand
that companies operating within the energy supply
industry are developing new and innovative models
of solar panels which is helping in attaining
consumer needs and demands in an effective
manner. The section also revealed the government
roles and policies which has been adopted in the
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country by the government unit to attain the needs
of the residents. Through secondary analysis I learnt
that government has taken effective and well
defined measures to enhance solar production and
sales within the economy which reflected that
government funding and support in the industry in
the present era is high. This effectively helped me in
learning that industrial segment of Saudi Arabia has
adopted the energy saving aspects widely. However
the residential segment demanded increasing
awareness and knowledge about the product. The
concept segment helped me in developing a clear
evaluation of product features and needs. It also
helped me in understanding the target market for the
products and services the company is planned to
offer in future. In addition to this examining the
value added services required by the companies was
also effectively analysed and evaluated in the study.
Along with this, the findings of literature review
made me proficient towards the area of
Technological development and emergence of
energy industry. I learnt that t is an effective and
valuable source to minimise the utility cost and
expenses for the consumers which created a well
defined impact on business growth and
development.
Your Knowledge
What key areas of knowledge have you
gained from undertaking your research
and the Major Project?
Indicate why these are so important to
you?
(max. 400 words)
The business development proposal on household
solar panels in Saudi Arabia helped me in attaining
an extensive knowledge about the product, market
and potential of business planning. It helped in
attaining a valuable experience in the field of
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business analysis and evaluation. It also helped me
in developing my thinking process towards business
development and growth aspects. I attained a broad
overview of application of knowledge in practical
business situation to attain effective development
aspects within the market.
The key areas of my knowledge for the present
study included technical, financial and inventory
related aspects. The overall study was undertaken in
a structured and step by step method. This was
widely effective me as my overall MBA knowledge
regarding every aspect such as management, human
resource, marketing, business law etc. was applied
in the study. Application of tools and techniques in
the analysis helped me in linking the theories with
the practical application. Along with this I learnt
about different ways and tactics which are adopted
by the business unit in order to enhance the sales
and revenue of the firm. The marketing planning
was a challenging aspect for me because it
demanded a significant understating of culturally
diverse residents of Saudi Arabia. Initially I faced
high challenge in completing the task however with
time and proper market analysis I evaluated the
common needs and demands of the consumers
which was highly effective in developing marketing
plan for the study. Moreover my knowledge
regarding financial aspects of the study was very
limited and ineffective. However the practical
calculation of financial business considerations
helped me in learning and expertise on the stated
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subject. I effectively researches about the cost and
revenue factors of the product proposed in the study.
It was very difficult to attain the secondary
information on the cost analysis factors. Hence I
consulted industry experts and undertook in-depth
internet research on the topic in order to develop a
clear and well defined idea. Along with this analysis
of resource needs and demands for the study was
critically significant for the present project. I
evaluated the significance of human resource needs
and demands in the business unit. I closely
examined and analysed the needs and demands of
the employees in the organisation which was highly
considerable for the selected topic. Moreover my
learning and evaluation of the topic helped in
developing a successful professional knowledge on
the selected topic. The effective structure of the
study was highly effective and significant for my
growth and understanding in the economy.
Your Learning
What are the most important
aspects/examples of learning and/or skills
which you have gained from:
(1) undertaking the MBA programme,
(2) following through your research, and
(3) applying your knowledge and what
you have learnt in your Major Project
(max. 400 words)
Undertaking the study was not a easy task for me.
Wide range of skills and attributes were required to
efficiently accomplish the business plan and
achieved stated objectives. It effectively helped me
in attaining my MBA schedule and program as well.
The overall project report helped me in enhancing
my business management and development skills. I
was effectively able to analyse and understand the
issues which I may face in the future in the proposed
plan. Moreover I analysed that my analytical skills
before undertaking the project was not very
effective however after undertaking the overall
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study I was convinced that my skills and attributes
in the field has developed widely. Moreover the
theoretical aspects of the models such as SWOT
analysis, business canvas model, project evaluation
technique etc was also developed after competing
my business development proposal. I clarified my
views regarding the feasibility of business venture.
Moreover I also observed that I effectively enhanced
my research skills in the meanwhile. Prior to this
project I was efficient working with computers and
searching content however extensive secondary
research helped me in developing my knowledge
regarding effective, specific and quick research on
the subject. Along with this, my skills have
enhanced in terms of checking the sources of
information. The study was effective source of
developing my planning, directing controlling and
monitoring skills. Every topic of the study helped
me in attaining lots of new information. While
conducting research I often faced challenges in
applying simple techniques in actual practice which
helped me in realising that theoretical aspects are
different from practical application. I developed my
communication and interpersonal skills while
undertaking the study. I had to consult with the
industry employees and expertise sometimes which
was an effective measure of developing my formal
communication and etiquettes. It was very
significant for my development and personal growth
within the market. Also analysing the challenges
and issues faced while conducting the study was a
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clear reflection of practical business world. I
evaluated that my study was very useful for
developing my knowledge in the field of business
growth.
Critical Thinking and your ideas
In carrying out your research, your
analysis, your evaluation of evidence, and
in identifying or proposing conclusions,
what has been the most important
discovery, or piece of evidence, or theory,
or viewpoint, or critical idea, or critical
addition to your knowledge, or other item
of importance and why?
(max. 400 words)
The study for evaluating Solar Panel Use for
Domestic Household Energy Supply as a Global
product to reduce utility cost in Saudi Arabia was a
challenging yet interesting task for me. Initially I
was unable to attain a clear way to go along with the
topic. I had a clear idea that needs demand for solar
panels in the economy is high however the effective
way to represent the same was very challenging in
the initial phase. However with effective guidance
and proper research I developed a well defined
means of understanding about the subject and its
application. After conducting the overall study I
learnt that fuel is one of the major non renewable
resource which is being consumed at a high and
significant rate. Every individual in the present era
demands effective supply of electricity and other
usability aspects. I effectively analysed that solar
panels are the most efficient and cost effective
means of fuel substitutes. It will help people in
minimizing their utility cost as solar energy is
available freely and effectively. Also I learnt that the
innovative solar equipments and panels has
enhanced the usability aspects within the economy.
The prospect has developed the measure of
effectively saving the energy for using it in the
future. However developing awareness is one of the
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most challenging aspect for the residents of different
regions. I also evaluated that it will help people in
creating an effective use of energy. The panel helps
in saving the energy for future usage which can
resolve the issue of seasonal aspects regarding rains
etc. The overall analysis revealed that the growth
and development of the industry is ensured in the
future due to rising prices of fuels and non
renewable resources. Hence, the timing to invest in
the selected business opportunity is appropriate
because the competition in the economy is low
however opportunity within the market is high and
significant. Thus overall evaluation reveals a clear
analysis of the sated subject in a well defined and
effective manner.
Barriers met
What were the main difficulties and
barriers which you were faced with in:
(1) undertaking your research, and
(2) completing your Major project
(max. 400 words)
The completion of proposed business plan was
much difficult for me as I had to face difficulty in
many fields. The concept behind plan was new and
required innovative phase of thinking to go for it.
Though I managed to do whole study and made
conclusion on that basis which was necessary for the
plan. I used different tools for conducting the study
and research on topic deeply which lead it to
become time consuming.
I was really doubtful initially for this project as I
had very little knowledge of topic, but I knew that
scope of this plan is more in Saudi. Yet, somehow I
come through it and completed the project on time.
The data collected for study is secondary as the
location of business for which plan proposed, is
situated in remote area. So collection of primary
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data became difficult. Therefore, I had to go for
secondary data, but I have made sure that data
collected is reliable and genuine. A critical thought
process was required for this plan which I
accomplished through collecting various details
about solar panels and its application in various
areas. Moreover, I studied its background and
different requirements essential for its installation.
Task was difficult for me as Saudi Arabia is a place
with lots of diversities. People come there from
different backgrounds, so analysing their attitude
and needs is a quite difficult process. Further,
analysis of plan according to my study was also
complicated as geographical location, cultures etc.
factors are completely different there. So it was not
easy to match my study with projected plan
according to that location. Besides this, I was also
concerned about credibility of data collected so I
made sure that sources which I am using for
collection is up-to-date and reliable. I also consulted
with some experts of concerned topic so that
detailed and exact information can be collected with
better understanding of myself. I had a less
knowledge of technologies so it was also a big
barrier in completing the project. Limited familiarity
with technical know-how made it more complicated
for me to understand project's application. As I
mentioned earlier, views of some experts also taken
by me on this topic which made it more time-
consuming as I had to adjust for meeting them. But
there views made my project's credibility strong.
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Moreover, I succeeded in collecting all the
necessary informations and analysing different
perspectives of idea to match with the needs of the
area as much as possible.
Your Professional Development
What are the most important business
and/or management skill(s) or academic
idea(s) or lesson(s) which you have learnt
from undertaking your research and your
Major Project – and why?
(400 words)
The project made my thought process strong and
much wider. It developed a professional phase in me
which will be very useful I future. My technical
knowledge developed due to this complicated
project. Moreover, collected data was secondary, so
key words used in that helped me to be precise and
clear for explaining my views. My skills to conclude
on any topic also increased due to conclusion
section. The whole project and its each section
improved my analytical and descriptive knowledge.
Also, due to this topic, I came to know various
cultures, demography and other areas of Saudi
Arabia. This also made me realise that need of solar
panel installation is essential for saving costs and
use heat energy in best possible way.
I also learned that effective utilisation of every
resource is very necessary in every area. It made me
aware of problems and other issues faced by locals
of that area due to less energy available for domestic
use. Along with this, my English and other
professional skills also improved because of this
plan. I felt a professional and practical approach in
every aspect of this topic. I learned importance of
efficient time management as well due to
completion of this project at right time.
Additionally, it also developed a sense of
responsibility in myself towards every work. I met
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with some experts also which improved my
personality and behavioural approach.
Throughout the research on this topic I analysed
various data and sites. It improved my analytical
skills and also made me familiar with historical
background of area and its culture. I studied this
topic deeply and collected all information from base
level which improved my knowledge and cleared
many doubts. It also enhanced my technical
knowledge and made aware of current scenario.
Further it developed my confidence level as I was
doubtful for completion of this topic, but by the time
I made it successfully. It increased my writing skills
and use of vocabulary in proper way so it will help
in future to present any project in a professional
way. Use of excel, word and other software for
writing on project improved my knowledge of
computers. Along with this, my decision making
ability also improved due to reaching on conclusion
with detailed knowledge of topic.
Thus it was interesting to work with this project
with many challenges and lots of scope to improve
analytical and professional skills.
Objectives
Based on your research and the work
which you have done in the MBA
Programme and its use in your Major
Project, what were and how far have the
objectives of your major project been
achieved?
(max. 450 words)
The objective of my research was to analyse the
domestic use of solar panels in the household sector.
I undertook a detailed analysis on the subject
evaluating each and every aspect of the study. My
objective was to evaluate the feasibility of the study
along with it application and efficiency in the
market. The overall analysis was efficiently
completed. I undertook every aspect of analysing
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the feasibility of the plan. I analysed te product and
service features, industry analysis, competitive
analysis and organisational analysis. It helped me in
attaining a well defined and clear idea about the
project. It was a significant attempt for
understanding the feasibility of the plan. The
financial feasibility helped me in analysing the cost
and revenue aspect of the study. I effectively
analysed the resource requirement and developed a
fair assumption about the cost of the sated aspect. It
was one of the most challenging part of the overall
study. The financial evaluation revealed a positive
outcome for the proposed plan. This was a
significant aspect of the analysis. Also I learnt the
level of investment which will be demanded in the
analysis. I developed a well defined plan to evaluate
and understand the study. The objective of the plan
regarding service needs and usage was effectively
determined. The secondary research data helped me
in evaluating that solar panels in Saudi Arabia has
bright future and that Al Khaleej Energy Solutions
will be a successful venture in the country. The gap
between the need and demand within household
sector is high and can be filled effectively by
developing awareness in the economy. The mission
of the business was to fulfil individual consumer
needs by offering them the high quality products by
successfully associating with employees, suppliers
and government of the country. The overall study
developed an effective plan and study to attain the
stated objective. The topic thus has helped to
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develop an in-depth understanding about the topic
and analyse the opportunity associated with the
proposed products. Solar panels are developing
market all over the globe and Saudi Arabia as well.
Findings & outcomes
How useful and/or feasible are the
findings, recommendations, conclusions,
or outcomes of your Major Project to you
and/or to a future Employer?
You must justify your answer with
specific examples.
(max. 450 words)
It has been analysed that solar energy market has the
golden opportunity for the growth and development
in the present market. It has helped the companies in
creating a well-defined impact on demand and
supply aspects in the country. The study represents
that the installation of solar panels in the household
works as a significant energy substitute for daily
operations. Solar panels are considered to be the
effective and well defined sources of energy
generation aspects in the market. Companies are
continuously developing and designing the new and
developed models of solar panels to create and
achieve demands within the market. Saudi Arabia is
one of the significant markets for the proposed plan.
The overall study revealed that the analysis was
favourable for Al Khaleej Energy Solutions
(AKES). As per the analysis, the company has a
significant aspect of development within the market.
The household sector has the untapped opportunity
which can be significantly attained and fulfilled by
the companies. Also it was determined that the
growth and development aspects in the economy
has a critical impact on the business growth. The
production and development aspects are critical yet
successful in he market. The business plan has
proposed to develop a market for solar panels in the
Saudi Arabian market where by an investment plan
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of 2,500,000 SAR was proposed. The financial
feasibility reflected that it is effective aspect for the
business. Also the diverse culture of the country
demands high awareness about the product usage
and promotion in the economy. Analysis of the
study revealed that government and effective
business units are cooperating in the planning and
growth of the countries in an efficient manner. Thus
it was effectively determined that the study has a
significant growth and development aspects within
the market which can help in developing a
competitive edge in the economy. Saudi Arabia is
wider market for the extensive and in depth analysis
so that market demand and growth aspects can be
identified.
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