Renewable energy technology (RET) innovation involves new, improved processes, as well as strategies to accelerate RET development, ranging from breakthroughs with basic technology inventions and improved research, development and deployment (RD&D) systems, to improved market mechanisms and commercialisation. In order to achieve RET innovation, a country needs to put in place the right policy approaches, frameworks, governance and policy instruments.
IRENA’s working paper, Renewable Energy Innovation Policy: Success Criteria and Strategies, was compiled to assist countries with policy development in order to strengthen renewable energy innovation, primarily through a discussion of design criteria for innovation policy frameworks. The report identifies broad success criteria for innovation policy in the sector and suggests strategic policy approaches to advance RET innovation in the context of constrained options, competition for resources, and national economic development goals. For renewable energy innovation policy regimes to be succeed, they must satisfy two broad criteria: (i) promotion of sustained multi-stakeholder engagement around an achievable, shared vision; and (ii) appropriate positioning of a country or region to anticipate and benefit from renewable energy technology flows.