Implementing Radical Innovation in Renewable Energy Experience Curves

Kerr, Paul K.; Noble, Donald R.; Hodges, Jonathan; Jeffrey, Henry

doi:10.3390/en14092364

Cited by 16 publications

(11 citation statements)

References 42 publications

(86 reference statements)

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“…As a result, variations in the energy sector are typically difficult, and aside from incremental improvements for traditional generation, radical innovations necessitate government intervention [67].…”

Section: Link3: Renewable Energy Deploymentmentioning

confidence: 99%

Policy Chain of Energy Transition from Economic and Innovative Perspectives: Conceptual Framework and Consistency Analysis

Mohammadi,

Mostofi,

Dienel

2023

Sustainability

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Climate change mitigation in energy systems has experienced a remarkable evolution over the past decades. In recent years, renewable energy and energy efficiency have made significant technological and deployment advancements, spurred by policy support, technology development, and cost reduction. Despite advancements in the concepts of innovation and sustainability transition, policy mix studies face challenges in policy regarding the process of energy transition. In fact, there is a need to deepen knowledge of many relevant transition policy design dimensions in order to address unresolved questions about why policymakers choose some instruments over others in the context of an existing or desired mix, how specific policy instruments operate in a mix that has a direct impact on policy performance, and how the transition policy can be evaluated in terms of achieving the desired outcome of CO2 reduction. In an attempt to conceptualize a policy design for energy transition, this research develops a conceptual framework consisting of a policy chain in energy transition from economic and innovation perspectives. This chain has five links, corresponding to policies supporting decarbonization, transformation, renewable energy deployment, energy saving, and CO2 emissions. A consistency analysis of the sub-indicators using data from ten leading European countries was performed, and the reliability of four links, excluding energy saving, was confirmed. The economic and innovation perspectives of the developed framework, which are aligned with the reliability analysis of each index of the framework, answer the question posed in this paper regarding actual features in energy transition. A complete energy transition requires economic signals and a fiscal system (Link1: supportive policies of decarbonization) that are aligned with all of the policy contributions in terms of strategic investments for technology development (Link2: transformation and technological development). Energy policy schemes, including taxation, subsidization and RD&D in technology related to climate change mitigation, increase motivations for alternative energy exploitation (Link3: RE deployment), which adds to the advance actions by individuals and firms in terms of energy saving (Link4), all of which combine to result in a change in greenhouse gas emissions (Link5: CO2 emission).

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Section: Link3: Renewable Energy Deploymentmentioning

confidence: 99%

Policy Chain of Energy Transition from Economic and Innovative Perspectives: Conceptual Framework and Consistency Analysis

Mohammadi,

Mostofi,

Dienel

2023

Sustainability

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“…Similarly for each company we measured L/A before the adoption of IFRS 16 Leases Equation ( 10) and after the adoption of IFRS 16 Leases Equation (11).…”

Section: Liabilities Post Ifrs16 Imentioning

confidence: 99%

“…Automobiles, manufacturing companies, real estate, oil and gas, and metals and mining are examples of capital-intensive industries. Thus, the activities of energy industry enterprises are technologically complex and capital-intensive [10][11][12][13]. In the energy industry, tangible assets play an important role, especially property, plant and equipment.…”

Section: Introductionmentioning

confidence: 99%

The Impact of a New Accounting Standard on Assets, Liabilities and Leverage of Companies: Evidence from Energy Industry

2022

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The climate policy of the EU enforced substantial changes for producers and suppliers of energy. New assets and providers of capital are needed to fulfill the policy requirements. To provide comparability and facilitate an investment process, EU law requires companies to prepare annual financial statements according to International Financial Reporting Standards. One of these accounting standards—IFRS 16 Leases—specifies how to recognize, measure, present and disclose leases. It came into force in 2019 and implemented a single lessee accounting model, contrary to a dual accounting approach for lease accounting. The latter approach enabled companies to keep leased tangible assets and respective liabilities off-balance sheet. By using a sample of companies from the energy industry (oil, gas, energy and mining sectors) that are listed on the Warsaw Stock Exchange, we examine, measure, and analyze the impact of IFRS 16 Leases implementation on the value of assets, liabilities and leverage on assets and leverage on equity. The paper may serve as an insightful case study of how the implementation of a new standard influences the financial situation of the affected companies in the energy industry. Our paper contributes to the scientific debate in the following three ways: (1) we confirmed the influence of IFRS 16 Leases on assets, liabilities, leverage on assets and leverage on equity that was anticipated in the literature, (2) using the auditing methodology, we demonstrated the material changes of assets and liabilities in the energy industry, (3) based on the research results, we suggested recommendations for further scientific studies.

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“…Net-zero transition calls for unprecedented innovation in advancing existing technologies and fostering innovative technologies, such as ocean energy projects at demonstration or first-of-a-kind precommercial stages. Using structured and systematic approaches to innovation will result in areas for improvement that provide the greatest impact on the overall designs to help achieve this level of step-change required and encourage the greatest value from investments [14]. For instance, one of the public funding bodies, WES, is supported the development of Mocean Energy and AWS Ocean energy [14] devices from a technology readiness level (TRL) 3 to 6 through a structured programme.…”

Section: Introductionmentioning

confidence: 99%

Addressing European Ocean Energy Challenge: The DTOceanPlus Structured Innovation Tool for Concept Creation and Selection

Tunga¹,

Garcia-Teruel

Noble

et al. 2021

Energies

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The whole energy system requires renewables that scale and produce reliable, valuable energy at an acceptable cost. The key to increasing the deployment of ocean energy is bringing down development and operating costs. This paper proposes a structured approach to innovation in ocean energy systems that would spur innovation and expand the market for ocean energy. This approach can be used by a wide range of stakeholders—including technology and project developers and investors—when considering creating or improving designs. The Structured Innovation design tool within the DTOceanPlus suite is one of a kind beyond the current state-of-the-art. It enables the adaptation and integration of systematic problem-solving tools based on quality function deployment (QFD), the theory of inventive thinking (TRIZ), and the failure modes and effects analysis (FMEA) methodologies for the ocean energy sector. In obtaining and assessing innovative concepts, the integration of TRIZ into QFD enables the designers to define the innovation problem, identifies trade-offs in the system, and, with TRIZ as a systematic inventive problem-solving methodology, generates potential design concepts for the contradicting requirements. Additionally, the FMEA is used to assess the technical risks associated with the proposed design concepts. The methodology is demonstrated using high-level functional requirements for a small array of ten tidal turbines to improve the devices layout and power cabling architecture. The Structured Innovation design tool output comprises critical functional requirements with the highest overall impact and the least organisational effort to implement, along with appropriate alternative solutions to conflicting requirements.

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Implementing Radical Innovation in Renewable Energy Experience Curves

Cited by 16 publications

References 42 publications

Policy Chain of Energy Transition from Economic and Innovative Perspectives: Conceptual Framework and Consistency Analysis

Policy Chain of Energy Transition from Economic and Innovative Perspectives: Conceptual Framework and Consistency Analysis

The Impact of a New Accounting Standard on Assets, Liabilities and Leverage of Companies: Evidence from Energy Industry

Addressing European Ocean Energy Challenge: The DTOceanPlus Structured Innovation Tool for Concept Creation and Selection

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