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Innovative Solutions for the Future Development of the Energy Sector

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  • Piotr F. Borowski

Abstract

Purpose: The purpose is to showcase the most important innovative initiatives undertaken by energy enterprises to meet the demands of the modern economy. The research focused on identifying and analyzing key technologies and strategies that energy enterprises are implementing in response to the growing challenges related to energy efficiency, sustainable development, and regulatory compliance. Design/Methodology/Approach: The research utilized the desk research method and the observation method to obtain a comprehensive view of the innovative initiatives undertaken by energy enterprises. The desk research method enabled an in-depth analysis of the relevant literature, industry reports, and scientific publications, providing insights into the latest trends and solutions in the energy sector. The observation method allowed for the direct verification of the obtained results by analyzing the practices employed by specific enterprises in real-world conditions. Findings: The research findings identified eight key areas currently being developed in the energy sector: Advanced Photovoltaics, AI and Big Data, Distributed Energy Storage Systems, Hydropower, Wind Energy, Bioenergy, Grid Integration, Green Hydrogen, Advanced Robotics, and Blockchain technology. Practical Implications: The research findings highlight the development directions of the energy sector, enabling decision-makers to make informed decisions regarding the implementation of innovative solutions. The results also provide valuable information on current trends and strategies in energy, indicating significant technologies and practices that can contribute to increased efficiency, sustainable development, and competitiveness of energy enterprises. This allows decision-makers to better plan and execute innovative projects that address the contemporary challenges and needs of the energy market. Originality value:

Suggested Citation

  • Piotr F. Borowski, 2024. "Innovative Solutions for the Future Development of the Energy Sector," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 297-307.
    • Handle: RePEc:ers:journl:v:xxvii:y:2024:i:3:p:297-307
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    References listed on IDEAS

    as
    1. Piotr F. Borowski, 2021. "Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector," Energies, MDPI, vol. 14(7), pages 1-20, March.
    2. Tsao, Yu-Chung & Vu, Thuy-Linh, 2023. "Distributed energy storage system planning in relation to renewable energy investment," Renewable Energy, Elsevier, vol. 218(C).
    3. David Popp & Francesco Vona & Myriam Grégoire-Zawilski & Giovanni Marin, 2024. "The Next Wave of Energy Innovation: Which Technologies? Which Skills?," Review of Environmental Economics and Policy, University of Chicago Press, vol. 18(1), pages 45-65.
    4. Filip Czepło & Piotr F. Borowski, 2024. "Innovation Solution in Photovoltaic Sector," Energies, MDPI, vol. 17(1), pages 1-19, January.
    5. Kandil, Sarah M. & Farag, Hany E.Z. & Shaaban, Mostafa F. & El-Sharafy, M. Zaki, 2018. "A combined resource allocation framework for PEVs charging stations, renewable energy resources and distributed energy storage systems," Energy, Elsevier, vol. 143(C), pages 961-972.
    6. Vladimir Franki & Darin Majnarić & Alfredo Višković, 2023. "A Comprehensive Review of Artificial Intelligence (AI) Companies in the Power Sector," Energies, MDPI, vol. 16(3), pages 1-35, January.
    7. Piotr F. Borowski & Jan Barwicki, 2022. "Efficiency of Utilization of Wastes for Green Energy Production and Reduction of Pollution in Rural Areas," Energies, MDPI, vol. 16(1), pages 1-12, December.
    8. Eleftherios Thalassinos & Marta Kadłubek & Le Minh Thong & Tran Van Hiep & Erginbay Ugurlu, 2022. "Managerial Issues Regarding the Role of Natural Gas in the Transition of Energy and the Impact of Natural Gas Consumption on the GDP of Selected Countries," Resources, MDPI, vol. 11(5), pages 1-22, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Energy enterprises; renewable energy sources; bioenergy; digitization.;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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