Standardizing a unique renewable energy supply chain: the SURESC Model

Area of Science:

• Energy Policy
• Economics
• Environmental Science

Background:

• Standard economic theory suggests markets, not policy, determine energy sector winners and losers.
• Accelerating renewable energy competitiveness is crucial for transitioning away from fossil fuels.
• Existing research on learning curves and energy policies informs this study.

Purpose of the Study:

• To propose a theoretical framework for accelerating the shift to a green economy.
• To investigate how government resource allocation can expedite renewable energy competitiveness.
• To introduce the Standardization of a Unique Renewable Energy Supply Chain (SURESC) model.

Main Methods:

• Theoretical analysis drawing on learning curve and energy policy research.
• Examination of energy demand and supply curves.
• Development of the SURESC model to link resource allocation to price parity.

Main Results:

• Limiting the number of government-supported renewable technologies can reduce the time to achieve price parity.
• This policy intervention is predicted to shift the supply curve, not the demand curve.
• The SURESC model provides a holistic approach to optimizing resource allocation for faster price parity.

Conclusions:

• Strategic government intervention in renewable technology development can accelerate the energy transition.
• The SURESC model offers a novel approach to achieving renewable energy price parity.
• This theoretical study provides a foundation for future empirical research in renewable energy policy.