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New venture commercialization of clean energy technologies

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dc.contributor.advisor John Sterman. en_US Miller, David S. (David Seth) en_US
dc.contributor.other Massachusetts Institute of Technology. Technology, Management, and Policy Program. en_US 2009-03-20T19:55:01Z 2009-03-20T19:55:01Z 2007 en_US
dc.identifier.uri en_US
dc.description Thesis (Ph. D.)--Massachusetts Institute of Technology, Engineering Systems Division, Technology, Management, and Policy Program, 2007. en_US
dc.description "June 2007." en_US
dc.description Includes bibliographical references (p. 245-250). en_US
dc.description.abstract Clean energy technologies lower harmful emissions associated with the generation and use of power (e.g. CO2) and many of these technologies have been shown to be cost effective and to provide significant benefits to adopters. Examples of clean energy technologies include renewable and/or efficient distributed generation (e.g. solar, wind, geothermal, fuel cells, cogeneration); energy efficiency technologies; intelligent energy management; efficient energy storage; green building technologies; biofuels; and ancillary products and services that reduce emissions associated with power generation, transmission and distribution. This thesis examines why new ventures founded to commercialize these technologies have failed to achieve widespread adoption. Based on interviews with clean energy entrepreneurs and other stakeholders and on case studies of clean energy technology ventures, a new venture simulation model was developed that models the cash flow, labor force, market, competition, and product development for a prototypical clean energy technology venture. When the model is parameterized to correspond to a venture that starts with superior technology at an attractive price its behavior corresponds to the experience of many of the companies interviewed. en_US
dc.description.abstract (cont.) The modeled venture takes many years to achieve profitability due to long sales cycles, limits to market growth, and the time needed to gain experience producing and selling its products, and therefore has a high probability of failure. Analysis of the model results in a set of guidelines for what these ventures, investors, and policy makers should do to increase their odds of success. The venture is better off starting with more sales and marketing personnel and expertise rather than engineers, and should develop no more product features than are necessary to sell the product. The venture should forego recurring revenue and instead receive payments up front whenever possible. A single initial equity investment in the venture is considerably more valuable than a series of investments. Government policies that raise the cost of carbon emissions; reduce barriers and increase incentives for adoption of clean energy technologies; and subsidize the development of these technologies can greatly increase the growth of these ventures and the odds of success. en_US
dc.description.statementofresponsibility by David S. Miller. en_US
dc.format.extent 250 p. en_US
dc.language.iso eng en_US
dc.publisher Massachusetts Institute of Technology en_US
dc.rights M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. en_US
dc.rights.uri en_US
dc.rights.uri en_US
dc.subject Technology, Management, and Policy Program. en_US
dc.title New venture commercialization of clean energy technologies en_US
dc.type Thesis en_US Ph.D. en_US
dc.contributor.department Massachusetts Institute of Technology. Technology, Management, and Policy Program. en_US
dc.identifier.oclc 173517173 en_US

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