The Role of Innovation in Industry Product Deployment: Developing Thermal Energy Storage for Concentrated Solar Power

Cristina Prieto, Sonia Fereres and Luisa F. Cabeza
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Cristina Prieto: Abengoa, c/ Energía Solar 1, 41012 Sevilla, Spain
Luisa F. Cabeza: GREiA Research Group, Universitat de Lleida, Pere de Cabrera s/n, 25001 Lleida, Spain

Energies, 2020, vol. 13, issue 11, 1-19

Abstract: Industries with fast-developing technologies and knowledge-intensive business services rely on the development of scientific knowledge for their growth. This is also true in the renewable energy industry such as in concentrating solar power (CSP) plants, which have undergone intense development and expansion in the last two decades. Yet knowledge generation is not sufficient; its dissemination and internalization by the industry is indispensable for new product development. This paper contributes to providing empirical evidence on the known link between knowledge development and firm growth. In 10 years the cost of electricity produced through CSP has decreased five-fold. This decrease has only been possible due to innovation projects developed through a complex network of research and development (R&D) collaborations and intense investment, both public and (to a greater extent) private. The development and construction of pilot plants and demonstration facilities are shown to be key in maturing innovations for commercialization. This is an example of how the private sector is contributing to the decarbonisation of our energy system, contributing to the objectives of climate change mitigation.

Keywords: innovation; concentrated solar power; product deployment; pilot plant (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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