June 14, 2015
June 14, 2015
June 17, 2015
26.462.1 - 26.462.19
DESIGN FOR COMMERCIALIZATION (DFC): A MULTI DOMAIN FEASIBILITY APPROACH FOR THE DIFFUSION OF RENEWABLE ENERGY TECHNOLOGYNatural resources are used globally on such modern conveniences as transportation, industrialand energy production. Higher standards of living, rapid population growth, and technology,all contribute to an increased demand for energy. However, extracting, processing, and usingthese resources to generate it can cause environmental problems, such as climate change, thedisruption or destruction of ecosystems; a decrease in biodiversity, land, water, and air pollution.The question is not whether natural resources will be depleted, the question is when. Therefore,society as whole needs to do a better job at preventing the depletion of natural resources,conserving energy, preventing pollution, and developing a more sustainable way of living.A path to achieve this goal is to increase the amount of renewable energy production, and toexpedite the development and commercialization of renewable energy technologies (RETs) thatcould allow us to reduce the demand for natural resources drastically. However, how can RETsbe developed and commercialized at a speed that could have a significant impact in preventingthe depletion of natural resources?RETs face several barriers to commercialization that have been classified in four differentdomains; technical, economic, operational, and regulatory & policy. Moreover, research hasidentified the economic domain as the dominant factor in the commercialization of RETs,specifically, the economic feasibility and risk of RET projects.Furthermore, how can the methods of analyzing the economic feasibility of RET projectsbe improved in a way that investors have a better understanding of the risk and expectedreturn on investment, so that the flow of capital invested can expedite the development andcommercialization of RETs? Moreover, is there a comprehensive model that successfully andholistically addresses the commercialization challenges of RET projects?Design for commercialization (DFC), is a proposed systems approach focused at the project levelthat could help answering these questions. A comprehensive literature search shows the need forthis approach.
Bonilla, O. M., & Merino, D. N. (2015, June), Design for Commercialization (DFC): A Multi-domain Feasibility Approach for the Diffusion of Renewable Energy Technology Paper presented at 2015 ASEE Annual Conference & Exposition, Seattle, Washington. 10.18260/p.23800
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