How to Assess Market Readiness for an Innovative Solution: The Case of Heat Recovery Technologies for SMEs

Sune Solberg Hjorth and Alexander Brem
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Sune Solberg Hjorth: SDU Innovation and Design Engineering, Mads Clausen Institute, University of Southern Denmark, Sønderborg 6400, Denmark

Sustainability, 2016, vol. 8, issue 11, 1-16

Abstract: The uptake of solutions that increase energy efficiency is significantly lower for small- and medium-sized enterprises (SMEs). This is due to several barriers, among which legislation, motivation, finance and other resources play a large role. In this paper, we describe a framework of market readiness and use it to assess the asymmetry between existing solutions and opportunities in the market. The aim is to identify which steps can be taken in order to introduce more energy optimizations into SMEs, and who should be taking those steps. More specifically, we explore how four Danish SMEs, in different parts of the value chain in the food processing industry, view energy efficiency improvements, focusing on the potential reuse of waste heat, along with what they consider important for taking on such projects. The findings show that while the companies operate very differently, they share common motivations and barriers when it comes to energy efficiency. Based on these findings, this paper argues that the biggest advancements are not to be made within the SMEs, but partly through the legislation that affects the financial benefits of energy improvement solutions, and through the marketing approach that solution suppliers take towards their potential customers when addressing the inherently individual needs of SMEs.

Keywords: readiness level; TRL; SME; energy efficiency; waste heat recovery (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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