Commercialization of renewable energy technologies: A ladder building approach

The objective of this study is to investigate how different renewable energy technologies (RETs) can be effectively commercialized in Finland. The country, not being endowed with natural reserves of hydrocarbons, is striving to increase the share of renewable energy generation in its primary energy supplies. Finland has long been involved in the development and innovation of technologically advanced products and services. The recent economic meltdown and decline in the information and communication technology (ICT) sector have triggered the inevitability of developing a sector that can serve as the backbone of the economy in the years to come. Clean technologies offer an excellent opportunity for a technologically advanced country like Finland to become a key player in the emerging market. The country has excellent standing when it comes to innovation input, innovation culture and public R & D in clean technologies; however, it lags behind when it comes to the commercialization of these novel technologies. This study aims to address the problem by investigating questions such as: What are the key factors that influence the commercialization of RETs in Finland? How do technological, regulatory and market-related factors affect the widespread adoption of RETs in Finland? The study also highlights the significance of support mechanisms and suggests the improvements required, at the micro-level (firms) and macro-level (policies, regulation and infrastructure), to develop a successful RET market in Finland. The findings of the study are presented against the backdrop of existing literature, energy policies, and the data collected from the energy experts in academia, technology firms, utility companies, investment firms, and regulatory bodies. The study has thus identified the factors that are central to the acceleration of RETs commercialization in Finland. Based on the findings, the study presents a comprehensive framework for the commercialization of RETs in Finland.