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Energy Trust is an independent nonprofit organization whose main task is to help utility customers benefit from saving energy and tapping renewable resources. The Energy Trust of Oregon has incentive programs for homes, businesses and renewable resources. Moreover, the Trust has the goal of commercializing smaller and newer renewable energy resources. Therefore, renewable energy mission is attained by getting renewable energy certificates, helping to pay above-market cost and enabling business capabilities. Similarly, the Energy Trust demonstrates commercial and pre-commercial renewable energy technologies and builds market for renewable energy.
In the Energy Efficiency Mission, the Trust reduces costs of utility customers’ bills by purchasing efficiency. This is attained through two major approaches namely resource acquisition and market transformation. In addition technical assistance, marketing and incentives are some tools utilized in creating energy efficiency.
Some primary technologies that promote energy efficiency have been developed in various areas namely lighting, heating, cooling, controls, operations and process and process support efficiency for industries. Similarly, primary technologies in renewable energy have been innovated namely solar PV, small hydro, wave and small and medium wind.
Managing Technology Innovation
The speaker noted that the utility industry is not good at supporting early or lab R&D because it requires huge portfolio, and lack of Energy Trust expertise. However, the Trust aid in technology innovation by advising manufacturers since they understand customer’s applications and efficiency needs. Moreover, the Energy Trusts markets products that qualify as energy efficient hence they have market advantage. In deed the trust influences the markets by bench tests and field validation of new technologies.
Priority of a given technology is influenced by factors like size of potential savings, time to market, other players doing the work, odds of success and resource and expertise required.
Technology Forecasting
Energy Trust has not been able to forecast accurately timing, cost and saving of specific emerging technologies or changes in the estimating technologies. Besides, forecasting technologies are relatively expensive. Therefore, improvement of forecasting will aid in promoting new technologies in the market.
Technology management and energy and technology innovation
Essentially, development of energy sources should be considered in technological innovation since new source of energy could be a source of advance in a technology system (Betz, 2011, p.238). Market transformation caused by newer forms of energy causes simultaneous change in the existing technologies. Therefore, firms that fail to adapt to new changes face the risk of becoming redundant in the market. Moreover, products which adapt to new energy changes have higher competitive edge over other products. In deed, Energy Trust markets products that qualify as energy efficient hence they have market advantage. Besides, some energy efficiency measures have little or no cost i.e. improvement of management of industrial energy (Wilkins, 2002, p.15).
According to Wilkins (2002, p.6) renewable sources of energy cannot sustain all energy needs, thus renewable should be used in combination with other energy sources in order to attain economic growth while conserving environment. Besides, renewable energy is cost effective than other sources of energy in the long run. In addition, increased population growth has led to higher energy demands which can be met by energy efficiency or/and renewable energy. Therefore, states can have energy security for future economic development.
The Energy Trust is aware of market needs and energy trends thus they can advice manufacturers hence create progressive innovation. Moreover, the ability to forecast timing, cost and energy savings as a result of a specific technology or changes to an existing technology helps to market products. In deed consumers are continuously seek for products that reduce their utility costs.
References
Betz, F., (2011). Managing Technological Innovation: Competitive Advantage for Change. NJ: John Wiley and Sons. Web.
Wilkins, G., (2002). Technology Transfer for Renewable Energy: Overcoming Barriers in Developing Countries. London: Earthscan. Web.
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