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Renewable Energy Technology PDF

   

Added on  2021-01-06

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1How Innovative Companies Gain a Competitive Advantage throughEffective Management of Renewable Energy TechnologyRajesh AnandStudent Number: 1643710210/08/2017Draft V2.0

Page | 2ACKNOLWEDGEMENTThis research study was supported by my professor and dissertation supervisor Dr.Nick Barnes. Iwould like to thank him for his valuable and professional guidance and insight also like to thankall my colleagues from Signature One INC, United States who helped me by providing insightand expertise that immensely assisted the research and gather the information required andintroducing to the right faculties and helping me making the right connections in the industry. Aspecial thanks to the team who have extended support on the virtual medium and calls tofacilitate sessions with multiple industry leaders and subject matter experts in the United States.

Page | 3ABSTRACTThis study investigates how innovative companies operating in the United States gain acompetitive advantage through effective management of renewable energy technology. It showsthe research findings of an in-depth technology and economic analysis regarding major energyalternatives which are renewable energy technologies, including the Wind Energy, SolarPhotovoltaics (PV) and Concentrating Solar Power (CSP) Technologies. To obtain primary information, semi-structured interviews were organised in which themanagement personnel of 10 U.S. innovative renewable energy companies participated. It meansthat the bottom-up data of the companies were gathered, along with the factor of market supplyand demand, and US renewable industry compared with competitors. The results show that the three renewable energy technologies have the strong potential formitigating the energy crisis, creating more employments and increasing the growth of overalleconomy. For this, adequate regulatory and framework conditions are must for companies whomake effort to gain competitive advantage by introducing wind energy, CSP and PV into themarket. To properly manage the renewable technologies, the participated companies focus on theR&D investment. It has been found that the US energy firms make investment in the PV energytechnologies, whereas most of the Asian and European countries focus on CSP and wind energytechnologies. It has been established that the US companies have a variety of options and hugeinvestment to make in these technologies, but the factor of fierce competition poses threats,restraining US companies from gaining competitive advantage, because many companies fromemerging countries are entering in the industry.

Page | 4Table of ContentsChapter 1: Introduction................................................................................................................................71.0.Introduction.....................................................................................................................................71.1.Research Background..................................................................................................................71.2.Research Problem........................................................................................................................91.3.Research Aim, Objectives and Questions....................................................................................91.4.Research Rationale....................................................................................................................101.5.Significance of Research............................................................................................................111.6.Structure of the Research...........................................................................................................11Chapter 2: Literature Review.....................................................................................................................132.0.Introduction...................................................................................................................................132.1.Overview.......................................................................................................................................132.2. Competitive Advantage and Porter’s Diamond Model: Theoretical Framework and Research Propositions...............................................................................................................................................142.2.1. Factor Conditions.........................................................................................................................152.2.2.Demand Conditions...............................................................................................................152.2.3.Related and Supporting Industries.........................................................................................162.2.4.Firm Strategy, Structure and Rivalry.....................................................................................162.3.2. Wind Energy................................................................................................................................182.3.2.Concentrating Solar Power (CSP)..........................................................................................182.4.Energy Transitions and Importance of Renewable Energy Sources...........................................182.5.The Current Situation....................................................................................................................202.6.Lead Markets for Renewable Energy Innovations.........................................................................202.6.1. Demand and Supply Sides of Domestic Market...........................................................................232.6.2. Policy Mix...................................................................................................................................242.6.3.Technological Capability.......................................................................................................252.6.4.Market Structure....................................................................................................................262.7.Diffusion of Photovoltaic Systems.................................................................................................27Chapter 3: Research Methodology.............................................................................................................303.0.Introduction...................................................................................................................................303.1.Research Philosophy......................................................................................................................313.2.Research Approach........................................................................................................................32

Page | 53.3.Research Strategy..........................................................................................................................333.4.Research Design............................................................................................................................343.5.Data Collection..............................................................................................................................343.6.Sampling Method and Participants................................................................................................353.7.Data Analysis.................................................................................................................................36Chapter 4: Research Findings....................................................................................................................374.1.Validation of the Data Gathered................................................................................................374.2.Interviews’ Findings..................................................................................................................384.2.1.Key Findings: Interview from Wind Companies................................................................384.2.1.1.Views about Technological Innovations and Advancements in Wind Renewable Energy384.2.2.Key Findings: Interview from PV Renewable Companies.................................................434.2.2.1.Views about Technological Innovations and Advancements in PV Renewable Energy.434.2.2.2.Key Trends Related to Corporate Level and Location in Terms of R&D Strategy for PV Technology454.2.3.Key Findings: Interviews from CSP Renewable Energy Companies.................................464.2.3.1.Views about Technological Innovations and Advancements in CSP Renewable Energy464.2.3.2.Key Trends Related to Corporate Level and Location in Terms of R&D Strategy for CSP Technology................................................................................................................................464.3.Summary of Findings.................................................................................................................47Chapter 5: Data Analysis and Discussion..................................................................................................485.0.Introduction...............................................................................................................................485.1.Data Analysis.............................................................................................................................485.1.1.Stocktaking the Research Findings and the Management Interviews.................................485.1.2.Companies’ Views Using Firm-Level Data and the Industry Management Trends...........495.1.3.Possible Policy Implications..............................................................................................505.2.Discussion..................................................................................................................................52Chapter 6: Conclusion and Recommendations..........................................................................................566.1. Conclusion......................................................................................................................................566.2. Recommendations..........................................................................................................................576.2.1. Government’s Policy Measures...............................................................................................586.2.2. R&D Programmes and Locations............................................................................................596.2.3. Taking Vertical Integration Level............................................................................................60

Page | 6References.................................................................................................................................................61Appendices................................................................................................................................................71Appendix 1: Interview Questionnaires..................................................................................................71Appendix 2: Research Ethics Form/Consent Form................................................................................72

Page | 7How innovative companies gain a competitive advantage through effective management ofRenewable Energy TechnologyChapter 1: Introduction1.0.IntroductionDuring the last few years, much importance has been given to maintain sustainabledevelopment principles so as to conserve natural resources, while protecting the environment. Itis necessary to make sure successful and peaceful development and maintenance of competitiveadvantage of innovative companies. The acceptable renewable energy sources with regards toecology contribute a pivotal role in this regard (Aghaei and Alizadeh, 2013). Although greaterinvestments are involved, the invested resources are justified by their use in the long-term (Bürerand Wüstenhagen, 2009). The key guideline of future sustainable development technology isrepresented by them and they are one of the fundamental elements for flourishing diversificationof the U.S.-based innovative organisations operating in the energy sector. The use of renewableenergy sources and effective management of renewable energy technology will lead not only to amajor decline in the use of fossil fuels and emission of greenhouse gases, but also result in thecompetitive advantage gained by the companies (Tsoutsos and Stamboulis, 2005).1.1.Research BackgroundIt has been found that the energy cost and demand is slate to only escalate withprospective growth of population and industrialisation, executives, mainly with organisationsoperating in the energy sector, are perceptive of the overall of a country’s policy about energy ontheir business (Isaac and Van Vuuren, 2009). The energy cost and availability have an impact onthe approach how an organisation reaches to decisions concerning location of the facility,investments in the R&D area, operational efficiency targets, and strategies associated withsupply chain and logistics (Menanteau, Finon and Lamy, 2003). It has been the common beliefamong owners of the energy companies, irrespective of their country of origin, that countrieshaving the capability of providing access to renewable energy sources at competitive costs willhave a competitive advantage over their market rivals (Isoard and Soria, 2001; Bocken et al.,2014).

Page | 8A leading force in investments, developing access for renewable energy and growingenergy efficiency at the national level are the development of electric transmission systemreliability and market access (Carrasco et al., 2006). Most of the well-developed countries haveelectric transmission systems with open access, letting renewable connection and making themable have connected national grids, an interconnected network through which electricity isdelivered from suppliers to consumers (Aghaei and Alizadeh, 2013). The demand for electricenergy in on the rise, thus it becomes more and more crucial for the energy sector to have aconnected grid. Advancements in the technology (by means of renewable energy technologies) have thegreat potential to reduce energy costs and enhance efficiency, not only for the policy related togreen investment (such as, wind or solar photovoltaics), but mainly in hydrocarbons includingnatural gas hydraulic fracturing (Sawin, 2006; Chu and Majumdar, 2012). The growing reservesof hydrocarbon, through more enhanced knowledge about geology and technology assisting inmanaging and exploring, has immensely driven policy of energy for last few decades and is oftenundervalued in potential impact (Chu and Majumdar, 2012). The “reserve” used as a term referssimply the producible part of oil, meaning the total amount called the recovery factor. Acrossdifferent locations, a recovery factor can vary and alter with the passage of time on the basis ofoperating history and changes in the technological or economic domains. As an instance, withthe passage of time a recovery factor might rise if highly improved technology-based techniquesare used for recovery, which include gas and surfactants injections, water-flooding, or microbialenhanced oil recovery (Lloyd and Subbarao, 2009). In fact, new and innovative technologieshave escalated the precision of these techniques, there are still major uncertainties. The demand for energy across the world is continuously growing regardless of the highlevel of energy productivity achieved already by many countries including the U.S. Bothorganisations and consumers will all acquire a lasting advantage related to cost by optimising theoverall energy efficiency of their products and processes. The costs of energy will increase in thelong term; present-day low prices of oil will rise again. If all known economic levers are pulledby U.S. companies and households with the aim of increasing energy productivity, they canlessen their costs of energy by up to $59 billion annually as of 2020 (de La Tour, Glachant and

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