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Edited by Rolf Wüstenhagen and Robert Wuebker
Chapter 7: International Entrepreneurship in the Offshore Renewable Energy Industry
Nicolai Løvdal and Arild Aspelund 1 INTRODUCTION: THE NEED FOR INTERNATIONAL DIFFUSION OF RENEWABLE ENERGY TECHNOLOGY The world’s dependency on hydrocarbons as a dominating source of energy is about to become a global problem. Not only does it cause regional political instability, as the battle for control over new and increasingly scarce oil and gas reservoirs intensifies, but the emissions from the use of fossil fuels are also the dominating contributor to increased global greenhouse effects (IEA, 2008, p. 329). This chapter discusses how new innovative firms can play an important role in solving this problem through global dissemination of new renewable energy technology. Due to the political and environmental problems related to fossil fuels, intergovernmental institutions and national governments in most countries have developed plans to increase the share of renewable energy. Tangible examples are, for example, the Kyoto agreement and the EU’s Renewable Energy Directive (CEC, 2008). Many countries have implemented support schemes to facilitate the development of renewable energy in general and some have introduced tailormade schemes towards chosen natural resources, such as, for example, offshore renewable energy. Common to all these agreements and support schemes is that they require successful development and dissemination of new technology in order to meet their objectives. To ensure the former, successful development of new renewable energy technologies, many governments invest heavily in R&D and full-scale demonstration programs. In order to ensure the latter, rapid and extensive dissemination of viable new energy technologies, we must rely on motivated market...
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