Implementing Radical Innovation in Renewable Energy Experience Curves

Cost reductions in nascent forms of Renewable Energy Technology (RET) are essential for them to contribute the energy mix. Policy intervention can facilitate this cost reduction; however, may require a significant investment from public sector. These fall into two broad categories: (1) incremental through continual improvements existing technologies, and (2) radical innovation where technologies that significantly differ incumbents developed. This study presents modelling methodology integrate RET experience curve learning analysis, using wave as an example RET. aims quantify potential effects on investment, allowing value successful be better analysed. The highlights offered by innovations long-term deployment scenarios energy. suggests high-risk R&D efforts sectors, even with low success rates, could still present expected offsetting future revenue support.