Looking for Opportunity

Solar Energy in Florida

(Regulatory trend)

Where I found the opportunity:

I originally read an article about a new bill in San Francisco that will require solar panels on all new buildings (first link). I decided to look up what kind of initiatives Florida has taken toward renewable energy, which led me to the second link, which is where I found the opportunity. The last two links are supplemental information that I found after originally finding the opportunity.

http://www.geek.com/news/san-francisco-becomes-first-us-city-to-require-solar-panels-on-every-new-building-1653167/

http://www.rollingstone.com/politics/news/the-koch-brothers-dirty-war-on-solar-power-20160211?page=5

http://bgr.com/2016/05/25/solar-panels-efficiency-doubled-mit/

https://ballotpedia.org/Florida_Right_to_Solar_Energy_Choice_Initiative,_Amendment_1_(2016)

Why this opportunity exists: Florida, known as the Sunshine State, has the third-best rooftop solar potential in the United States. Despite this, less than ONE PERCENT of its energy consumption is powered by solar energy. Massachusetts Institute of Technology has also recently released news of a breakthrough in solar energy technology that could double the amount of energy collected by solar panels.

Most likely consumer: While the potential for solar energy exists nationally and even globally, in this instance the most likely customers would be residents of Florida. This is because the solar energy market is currently nonexistent in the state due to many unusual barriers of entry in the market.

Exploiting the opportunity: This opportunity would be extremely difficult to exploit, but has the potential to be highly successful. The reason for this is that energy consumption is regulated by the state, and monopolies such as the Koch Brothers and Florida Power & Light (FPL) fervently defend anti-solar policies and even band together to come up with state amendments that punish and even prohibit residents from using solar power. Bills such as Amendment 1, which will be on the ballot this November, are worded to make it sound as if they are advancing the cause, when in reality the amendment would only strengthen the hold that the monopolies have on customers in Florida by doing away with net metering, which currently requires companies like FPL to buy any excess power generated from homes with solar panels. Trying to take advantage of this untapped energy source in Florida would be a huge and very difficult task as it would mean first dethroning the current energy monopolies whose profits come from burning fossil fuels.

Why I saw this opportunity: I saw this as an opportunity because it honestly makes me furious. I hate bullies, and my beloved state of Florida is currently being bullied by the power companies. We are the Sunshine State and yet we are producing virtually ZERO energy from the sun. I feel like I am being taken advantage of by giant corporations, and the worst part about it is that I’m PAYING these people to take advantage of me because my only other immediate option is to go without power. Which I’m pretty sure I can’t do either because my apartment complex would likely kick me out if I stopped paying my utility bill. I apologize for the rant, but this seriously pissed me off when I heard about it.

Reusable Shopping Bags

(Regulatory trend)

Where I found the opportunity:

https://www.bostonglobe.com/metro/2016/05/26/mass-senate-approves-ban-plastic-bags/dXkunh5TXAA6NbVQOGbWaN/story.html

Why this opportunity exists: Massachusetts is in the process of passing a bill that would ban plastic bags. This could be an opportunity for other alternatives to plastic shopping bags, or an opportunity for more widespread use of reusable shopping bags. Some stores, such as Target, Whole Foods, and Trader Joe’s, even offer small discounts or incentives for people who shop with reusable bags.

Most likely consumer: Currently, people who live in Massachusetts, but the market could be very successful elsewhere in the United States, especially if other states fallow suit and ban plastic bags as well.

Exploiting the opportunity: I think that this would be fairly easy to exploit, just because of the use of plastic bags expands many different markets, not just one. Reusable shopping bags have been around for a while, the problem is getting people to switch. In order to do that you have to target the stores and either get them to do away with plastic bags completely or have them offer incentives for using reusable bags.

Why I saw this opportunity: I saw this as an opportunity because I am a regular user of reusable shopping bags. While there is not one in Gainesville, back home I do most of my grocery shopping at Aldi, which doesn’t even use bags at all. They require shoppers to bring their own or do without them completely. It may sound weird, but going without bags is not as bad as it seems. I’ve forgotten my reusable bags on occasion, and it basically just means that I bag my groceries when I get home rather than at the store.

  

Hurricane Preparedness

(Economic trend)

Where I found the opportunity: I originally found the first article about the newly formed Tropical Storm Bonnie. The article also talks about the hurricane forecast for the rest of the season, which is where I got the opportunity from.

http://www.sun-sentinel.com/news/weather/fl-hurricane-forecast-20160527-story.html

Why this opportunity exists: Certain states such as Florida tend to be at a higher risk of getting hit by a hurricane, but residents of states at slightly less of a risk, such as states farther north along the coast, tend have a lot less experience dealing with hurricanes and often times make crucial and costly mistakes by not preparing enough or doing so too late. Stores will often times run out of hurricane supplies quickly in the days before a storm hits, so those who didn’t prepare early enough end up without supplies completely. Sandbags, which are used to help prevent flooding, can be hard to come by and are often times in very limited supply at places that do offer them.

Most likely consumer: Residents of any state that is at risk of being hit by a hurricane or tropical storm.

Exploiting the opportunity: I feel like this could be a fairly easy opportunity to exploit. Someone could create hurricane preparedness kits that included all the basic supplies needed, and then sell those to stores that are in areas at risk of being hit by a hurricane. The only part that would be difficult would be getting consumers to buy the supplies early instead of waiting, but certain marketing strategies and advertising could be used to help get the word out.

Why I saw this opportunity: As someone who has spent all but 3 years of my life living in Florida, I have gone through my fair share of hurricanes and tropical storms. It is vital to inform people that they need to be getting supplies such as nonperishable foods, flashlights, and water now rather than everybody running to the store to get these things the day before a storm is supposed to hit.

Mass Transportation Systems

(Economic trend)

Where I found the opportunity:

http://www.businessinsider.com/r-us-seriously-considered-shutting-down-dc-subway-system-2016-5

Why this opportunity exists: There is a notable lack of mass transit systems in the United States, and many of the ones that do exist are in desperate need of upgrades and repairs. The D.C. metro line is currently at risk of being shutting down due to failing to comply with safety inspections. This comes days after there had been a fire on the rail. The D.C. metro line is primarily used by people commuting to or from work, and if it shuts down, many people will be stranded without transportation. It is also worth noting that the majority of mass transit systems in the U.S. are located only in large cities. A few do go beyond city boarders, but not by much. SunRail, the new commuter rail line in Florida, only goes North of Orlando. The transportation company Amtrak has a sizable rail system throughout the United States, but tickets are expensive and are usually meant more for long distance travel between states due to lack of stops in between major cities.

Most likely consumer: Anyone who relies on the D.C. metro system or any other metro system that needs upgrading, as well as anyone who commutes to work and is looking for cheap alternatives that save them from sitting in traffic.

Exploiting the opportunity: Past the obvious need for upgraded metro systems, I think there is definite need for city-to-city mass transportation systems. This would be relatively difficult to exploit as it would be timely and costly. However, I do think that it is completely doable. Think of it this way: what if instead of expanding highways and adding more lanes to help with traffic congestion, they just built a rail system to help alleviate the traffic? Same goal, different solution. And one that is more environmentally friendly as well as potentially faster.

Why I saw this opportunity: I saw this as an opportunity because I spent four months in a small town in Italy, and even with a population about a quarter the size of Gainesville’s, it still had 2 major train stations. I traveled almost primarily by train in the country, and many locals over there prefer to travel by train rather than by car because it was cheaper. While the U.S. is much larger in size, I think that making a rail system similar to Europe’s, even if it starts out small with cities like Orlando or Tampa, could be very beneficial. I also lived in the Virginia/D.C. area for about a year and a half, during which my dad commuted to work every day using both the train and the metro. I remember him complaining about how often there were really bad delays or backups on the metro due to closed tracks or maintenance or whatever, which would either make him late for work, or force him to walk or take a taxi to get where he needed to go.