Undertaken By: Multiple, Recent Publication: 2019
There is a need to encourage, support, and scale innovation in order to advance to a more sustainable, nimble, and secure energy future. Emerging technologies have a business life cycle: research and development (R&D), demonstration, and eventual commercialisation. Clean energy projects, especially those in their nascent stages, have long timelines, large upfront capital costs, low returns, and high risk. There is little investment in the early stages of development of new clean energy (and related) technology. Despite recent advances in the solar and wind sectors in India, therefore, annual investment in its clean energy market has stagnated. There is a real need for a process that identifies viable clean energy innovations and supplies them with the funds required to take their innovations to scale.