Innovation is the accelerator in our energy transitions.
No energy transition will be achieved without invention and innovation, yet we are currently failing badly to fund research, development and deployment. We are losing the race to stop our planet’s warming as our innovative human endeavours are not at the level they should be, or we lack the “will” to make the changes we so desperately need to undergo to protect our planet.
The sheer scope of the energy transition often pulls me in so many different directions. Still, the foundation stays in place, that of making the contribution of my understanding of innovation as my focal point of contribution- the accelerant to energy change.
With such complexity and pace of change occurring in solutions to the Energy Transition constantly pushing me, there is an absolute necessity to understand a significant amount of advice, detail and opinion as well as basic research on the areas of energy solutions and their potential impacts. This enables me to appreciate more where innovation has an even more significant potential to contribute.
I keep constantly investing my time in growing my further understanding, expertise, and thinking of energy transition ‘cross-over points’ where we move away from the old energy systems into the new ones.
This knowledge understanding provides some distinctive and interrelated “core” topics, which are admittedly time-consuming but essential based on the in-depth research undertaken.
Where innovation fits within the energy transition story, it actually becomes the accelerant of change:
As you get into the complexity of this energy transition, you realize the difficulties.
Innovation will, in my view, be the critical driver of the energy transition; it needs to deliver the following:
1). Deliver technology breakthroughs that provide renewable solutions to offer cost-effective alternatives to conventional energy technology,
2) technology innovation that improves the existing renewable technologies to reduce current costs and achieve more significant deployment,
3) new business models that allow new investors to be attracted to the energy system,
4) exploring new concepts that promote the scale-up of renewable technologies,
5) supports new financing models and justification and validation for fresh capital investments,
6) enabling policies and regulatory changes to offer change incentives for different market access,
7) contribute substantially to fresh market designs and concepts,
8) encourage and provide opportunities for new energy system operators to undertake part of the transformations needed.
This energy transition needs a dramatic shift towards clear innovation approaches so we can accelerate, support, and deliver the radical, often disruptive shifts.
I have been building out my innovating4energy.com insights and offerings as a source of reference and opinion. If you have the opportunity, do take a look, it aims to build greater innovation understanding (and need) within the Energy System
For me, the energy transition that the world is undertaking requires all forms of innovation to offer technically advanced and breakthrough solutions to an incredibly complex energy delivery system. To redesign a complete energy system in twenty to thirty years, which is the current time frame being wanted to be achieved, is as demanding as you can get. I certainly want to play a role in this transformation; it is exciting, challenging, and demanding for all involved.
The critical enabler will come from technology and systemic innovation.
Innovation needs to be broader than just being conducted through technological research and development; it requires a more significant integrated innovation model with business models, policies, processes, and market design as part of the solutions.
Energy transition and innovation contribution, on this global scale, is as powerful a demonstration of the actual value and contribution that innovation does bring; it needs highlighting and drawing out.