• An extensive literature review provided this research with useful theories; a framework to assess business models (Osterwalder,2005) and a systematic process to analyze the sector and the business environment. • The electricity production sector is in transition; this comes with opportunities for new entrants into the market. The business environment indicates that such opportunities can be found in the residential market for solar panels, especially in countries with relatively high consumer electricity prices. • Confidential: Bullet excluded • Confidential: bullet excluded • The participation in the exploration and development of a business model in the real life of a Dutch start-up company has provided a very valuable basis for the empirical part of this thesis. It has given me the opportunity to reflect on the tools and theorems that I found in scientific literature and that I used in the development of a framework of analysis. • The Osterwalder Framework turned out to be a practicable and fruitful tool in this process. However I do recommend further research to identify and apply more elaborate tools and concepts for the complex matter of developing a business model for a start-up company entering an emerging market.