Although the cleantech innovation ecosystem—research institutions, entrepreneurs, financiers, and support institutions—is diverse and productive, converting cleantech discoveries and research breakthroughs into commercially viable, transformative energy systems has proven difficult. With incumbent energy systems economically efficient and deeply entrenched, cleantech innovation faces a fundamental dilemma—the scale economies necessary to compete require a large customer base that doesn’t yet exist. How is our clean energy innovation ecosystem equipped to be transformative? What needs to be strengthened? Is it profitable to focus on individual elements, or should we consider the system holistically, and reframe our expectations?
According to the International Energy Agency, only three out of 26 critical sustainable energy technologies are advancing fast enough to meet global climate targets set in Paris. How can we accelerate the pace of sustainable energy innovation and market adoption of new energy technologies and solutions? How can innovative finance models mitigate investors’ risk? What role can private and institutional investors play to increase sustainable investment necessary to accelerate cleantech development and adoption?