Renewable Energy Technologies (RETs) are seen as disruptive innovations as they challenge the existing market structures that prioritize state-owned, fossil fuel-based energy companies. According to Oskar Juszczyk’s doctoral dissertation from the University of Vaasa, a supportive regulatory regime and inter-sectoral collaboration are crucial for the successful diffusion of RETs.
Juszczyk’s dissertation in the field of industrial management explores the impact of regulatory, technological, and socio-economic factors on the successful diffusion of RETs. The study highlights the importance of a supportive regulatory regime as well as inter-sectoral collaboration to foster the implementation of RETs.
Challenges to Overcome
The study identifies various challenges facing the implementation of RETs, including ineffective policies, limited financing options, obsolete infrastructure, and low levels of societal acceptance. The evidence based on interviews with executives of RET companies shows that unsupportive, overly complicated, and dynamically changing energy policies and legal procedures are key obstacles to the prosperity of renewables.
Juszczyk recommends more comprehensive, simplified, entrepreneur-driven, and renewables-oriented regulations as prerequisites for implementing more RETs. Strategies with a long-term perspective are required to effectively fulfill the ambitious goals stated in the official government reports and to achieve the targets of the legally-binding international regulations.
The Importance of Collaboration
Collaboration between government, industry, academia, and society is critical to support the diffusion of RETs. Juszczyk suggests that university-industry collaboration could be a source of innovative solutions that push the whole energy industry forward. This could be achieved through the formation of collaborative networks, such as energy ecosystems, or energy hubs and clusters.
The study also stresses the need for strengthened efforts to increase the societal acceptance of renewables, which would ultimately result in enhanced adoption of RETs. This could be accomplished by organizing various education programs, conferences, workshops, and other awareness-raising actions, which would result in increased environmental consciousness and customer trust.
The empirical analysis of the dissertation is based on evidence gained through interviews with experts in Finnish and Polish RET sectors. It proposes smart specialization of local communities, venture capital investments in RET start-ups and SMEs, as well as blockchain technology as a catalyst for the widespread diffusion of renewable energy technologies.
RETs have the potential to revolutionize the energy industry, but there are significant challenges to overcome. Collaboration between government, industry, academia, and society is crucial to support the diffusion of RETs. A supportive regulatory regime, inter-sectoral collaboration, and increased societal acceptance are prerequisites for implementing more RETs. By addressing these challenges, we can create a more sustainable future for all.
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