How do you assess a new renewable energy idea?

In my experience, the biggest challenge is finding the root of problems, rather than treating the symptoms. We often spend a lot of time focusing on results without deeply analyzing what is actually causing discrepancies. Root cause analysis methodologies are often underestimated, but when used correctly, they are powerful in the search for insights. The use of simple root cause analysis methodologies such as Pareto Diagram, Ishikawa Diagram or the 5 Whys research method can bring significant gains when addressing a new idea that has great potential for resolution.

From my experience, these are some practical steps: Grasp the fundamental mechanisms enabling energy generation, including energy source conversion and storage. Check Technical Specs: gather specifics on capacity, efficiency, maintenance, operations, energy output, compatibility with existing infrastructure, and resource requirements. Compare Existing Solutions: assess the idea against established renewable technologies, considering cost, efficiency, scalability, and adaptability. Highlight Advantages: recognize strengths like higher efficiency, cost-effectiveness, and environmental impact. Acknowledge Drawbacks: identify limitations, such as high investment cost, intermittency, or resource constraints, for proactive risk management.

It is good to start with renewable market segmentation and define customer types (residential, commercial, or industrial) followed by techno-commercial assessment of the needs, sustainability factors, preferences, decarbonization priorities, and existing competitors. Next step is market sizing by calculating the total addressable market (TAM) for the renewable energy idea (potential customers vs energy consumption). Then, define barriers and drivers for idea adoption e.g., cost, regulation, and incentives. Another critical point is analyzing the market dynamics including the pricing model, supply chain, regulations, idea scalability, and market entry strategy with the identification of the environmental impact and risk assessment.

One metric that can be used to evaluate the impact is the technologies Levelized Cost of Energy (LCOE). This metric tells you essentially how much the energy that the device produces costs. You'll typically need to be cost completive with traditional energy generating technologies.

One piece I can advise when prototype testing is to try to learn as much as possible from as as small as possible of a device when prototype testing. If you jump to to large of a scale of prototype too fast you'll burn all your capital and R&D funding before you figure all of the problems out. Small devices are much cheaper, faster, and easier to iterate on. Consider not even building a fully functional prototype, but just a component tester that tests the most innovative or uncertain portion of your device before building a complete device.