How to Transform Our Energy System
The Scientific American website noted that we can rapidly solve the problems of our energy system with global and exponential approaches. For example, the remarkable drop in the price per kilowatt-hour of solar photovoltaic cells has drawn analogies to Moore’s Law of exponential growth in computer chip transistor density, and prompted an influx of new ideas in the energy space. Through open innovation, modernized regulatory systems, and new business models, we can evolve from complaints about the status quo to rapidly identifying and deploying real solutions to our grandest challenges. Open innovation–crowdsourcing, challenge grants, hackathons, and others–gives innovators everywhere more shots on goal. And all we need is one shot to go in. One of the most successful open innovation models is the incentive prize competition.
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