Solar PV’s triumphant rise: Unseen innovation catalyst amid declining federal research

by | Jul 13, 2023 | Manufacturing, News

Imagine a world where championing industry, promoting innovation, and recognizing achievement are under threat. Now imagine a solution that not only counterbalances this decline but also ushers in a new era of growth and sustainability.

The Unseen Threat to Innovation

Contrary to popular belief, it's not competition or economic downturns that pose the biggest threat to U.S innovation. It's the declining federal research funding. You heard that right! The problem isn't foreign competition or market volatility; it's closer to home. Federal research spending has taken a nosedive from around 2% of GDP in the mid-60s to less than 0.8% today.

However, all is not lost.

Rise of Solar PV: A Silver Lining?

Despite this dismal scenario, there's reason for hope – renewable energy, specifically solar photovoltaics (PV). Within just one year, in 2020, solar PV capacity soared by an impressive 22%. Even as the world grappled with COVID-19 disruptions, projects totalling nearly 135 GW were successfully completed worldwide.

Yet you may wonder ‘How does solar energy link to our innovation problem?'.

The Inextricable Link: Renewable Energy and Innovation

Consider this: while federal funding for R&D keeps dwindling, the landscape is changing rapidly. The demand today isn't just for innovative solutions but for those that promote economic growth while protecting our environment. The answer lies in renewable energies like solar PV.

And here's why: Solar energy offers cost-effective long-term solutions – operating costs can go as low down as $20 per megawatt-hour post-installation.

Unconvinced? Let's delve deeper into how transformational leadership comes into play.

The Silent Architects of Change

Bracing ourselves for this shift requires organizational agility – a trait often embodied by transformational leaders who know how to steer old ships on new courses without causing upheaval.

Here are some ways they could do it:

* Enhancing internal R&D capacities

* Spearheading collaborations with entities globally engaged in similar endeavours

In these ways they work quietly towards ensuring their organizations thrive amidst challenges.

Recognizing Achievement Amidst Challenges

But let's not forget about recognizing achievements; remember “Recognition encourages further innovation.” This spirit is exemplified by events like The Manufacturer Live which celebrates success stories across different industries each year—a platform worthy of applause!

Yet championing industry doesn't stop at individual accomplishments—it means creating an environment where innovation can thrive despite macro-level challenges such as reduced government funding.

So what have we gleaned so far?

To succeed in an era of declining federal research spending while maintaining commitments towards sustainability calls for shifting focus towards renewable sources like Solar PV. And behind these changes would be our silent architects—transformational leaders guiding us through uncharted territories without ever being noticed!

Isn't it time we recognized them too?

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