Promoting entrepreneurship in New Energy technologies : A way to achieve Sustnaible Development Goal 7(SDG)

 

The Tracking SDG7, THE ENERGY PROGRESS REPORT 2020 concluded that the world is not, “at the current rate of progress, on track to achieve Sustainable Development Goal 7(SDG)(….) The Stated Policies Scenario of the International Energy Agency (IEA) displays that current and planned policies will not be enough to meet the goals.”[1]  That goal of the Union Nations is a challenge for every State.

The question about the achievement of the sustainable development goal 7 for universal access to affordable, reliable, sustainable and modern energy by 2030 presumes reflections on more other effective approaches.

That is why, in this article, we aim to respond to this question: Should the promotion of entrepreneurship for new energy technology not be considered as an effective lever to help facing the challenge of achievement the number seven sustainable objective?   We will be focus on how business strategies for new energy technology and building capacity to reach out this goal.

Interests the entrepreneurship approach

There is an evidence that “Entrepreneurs are the key agents for their advancement while state regulation is often playing an important role in the promotion of RE(Renewable energy) technologies.[2] “Renewable energy entrepreneurs improve the mix of the means of production, and thus constitute a significant link for facilitating the transformation of innovation‐based RE technology and their transition into viable energy systems. “[3]For that reason, we think this goal, which has been set up for 2030 by the Union Nations, needs a deep commitment of those persons who believe in great potential of the new technological energy challenges. For them, those challenges are biggest than ever, however so are opportunities.

First all of, the same way the digital revolution in communication is the basis for optimizing the use of digital technology with the entrepreneurship initiative, we must think that entrepreneurship initiative is pressing entrepreneurs to develop smart business and technological perspective in the energy field.  It is about using efficiently resources to get the lowest damage to the environment and increasing the greatest quality standard of life with renewable and new energy. It is a question of new revolution. The entrepreneurship potentiality has that ability to weigh up between economy, technology and adaptation to the environmental challenges and energy by developing smart grids, microgrids, smart applications of management and interoperability of digital and energy data from a household to a community considered as both an energy consumer and an energy producer.

Secondly, the new world needs innovative business to take up the biggest energy challenges: green, affordable and sustainable energy. In this way, “the role of entrepreneurs in the transformation of energy sector toward the sustainable and clean technology has been significantly highlighted.”[4] Today the issue is about the autonomy and the participation of consumers in the production of green energy and its sale on a network market. That’s why the place of the companies must be required to offer the best technology solution.

The new industry creation of green and sustainable energy

In this case, the new industry creation of green and sustainable energy should be promoted and get access to financial facilities because “ in details, capital investment could be considered as a potential barrier.”[5] According to IEA and IRENA’s scenarios, it has been estimated “that achieving SDG 7 would require annual investments by 2030 of around $680 billion to renewable energy (IRENA and IEA scenarios), around $45 billion going to energy access and $625 billion to energy efficiency (IEA scenario).”[6]

Furthermore, a redirection of investment from fossil fuels to renewable is necessary to unlock the capital needed to put the world back on track to a sustainable future. “In total, savings of up to USD 220 billion per year in fossil fuels investment could be achieved under the Sustainable Development Scenario. IRENA’s Transforming Energy Scenario suggests that USD 10 trillion would have to be redirected from fossil fuels and related infrastructure.”[7]

That means the production of green, sustainable and affordable energy needs not only a revolution in new energy technologies, but also a transition of investments in new energy technology. Nota bene: it has been noticed that in that report the policy makers have an opportunity to motivate great investments in efficient energy.

To be concluded, the promotion of entrepreneurship for reinvesting is the requirement to have a better development of new Technological energy. Thus, we can count on the competitive Entrepreneurs’s spirit to have more positive climate outcomes, more sustainable and green economy, and more effective social impact on reducing the efficiency gap of energy.

 

 

Sources

[1] https://trackingsdg7.esmap.org/data/files/download-documents/tracking_sdg_7_2020-full_report_-_web_0.pdf, p.119

[2] Avri Eitan , Gillad Rosen ,  Lior Herman and Itay Fishhendler, Renewable Energy Entrepreneurs: A Conceptual Framework , in  Energy Review ,  2020, 13, 2554; doi:10.3390/en13102554 www.mdpi.com/journal/energies, p.1

[3] Ibid.

[4]  Ramiar Sadegh-Vaziri, Entrepreneurship and Innovation in Energy and Environmental Technologies; Barriers and Opportunities, KTH Industrial engineering and management,  2013, p.5 , see https://www.diva-portal.org/smash/get/diva2:629572/FULLTEXT01.pdf

[5] Ibid.

[6] https://trackingsdg7.esmap.org/data/files/download-documents/tracking_sdg_7_2020-full_report_-_web_0.pdf. p.120

[7] Ibid., p.111

A propos de Wilem JEAN

Juriste spécialiste en DROIT DE L'ENVIRONNEMENT, DES TERRITOIRES ET DES RISQUES et actuellement en formation M II DROIT GESTION ENERGIE ET DEVELOPPEMENT DURABLE.

Wilem JEAN

Juriste spécialiste en DROIT DE L'ENVIRONNEMENT, DES TERRITOIRES ET DES RISQUES et actuellement en formation M II DROIT GESTION ENERGIE ET DEVELOPPEMENT DURABLE.

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