Driven by economic, political, and environmental dynamics, the path
towards achieving sustainability in energy supply on a global scale
is one of the key challenges for the twenty-first century. Within
this long-term transition process, the transformation of the
current energy sector has been identified as a key challenge for a
sustainable energy future, which implies that incumbent firms in
the two major energy industries (oil-gas and electricity) have a
vital role in the development and commercialization process of
renewable energy technologies. Solar photovoltaic (PV) technology
has seen the most extensive growth over the last decade compared to
other renewable energy technologies, and has been identified as a
key technology for a sustainable energy future. This study analyzes
the role of incumbent firms in the energy industries in the
development and commercialization of solar PV technology, as their
powerful position in the energy industry gives them a crucial
position in the diffusion process of renewable energy technologies.
It provides a comparative analysis of strategies regarding solar PV
investments, based on in-depth case studies of Europe's leading
energy companies.
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