Hidden Champions of Solar Power Generation

Is solar dominance possible in 2050?

Notably, with solar prices far below alternatives, higher learning rates have a small effect on diffusion. Overall, in 72% of the simulations done for robustness testing, solar makes up more than 50% of power generation in 2050. This suggests that solar dominance is not only possible but also likely.

Who are hidden champions?

Audretsch et al. (2018) show that hidden champions predominantly belong to those industrial sectors that served as the leading sectors during the German industrialization in the second half of the nineteenth century.

What will a solar-dominated future look like?

A solar-dominated future is likely to be metal and mineral-intensive 48. Future demand for “critical minerals” will increase on two fronts: electrification and batteries require large-scale raw materials – such as lithium and copper; niche materials, including tellurium, are instrumental for solar panels 49.

Why are hidden champions so innovative?

Adding to Venohr and Meyer (2007) and Yoon (2013), Kaudela-Baum et al. (2014) examine the determinants of the hidden champions' high innovativeness. They attribute the strong innovativeness of hidden champions primarily to their corporate culture, which motivates employees to develop ideas and pro-actively pass them on to the management.

How has solar energy changed the world?

Solar energy started its journey in niche markets, like most innovations, supplying electricity to applications where little alternatives existed in space and remote locations 22. Since then, cumulative investments and sales, driven by past policy, have made its cost come down by almost three orders of magnitude.

Is GEA a hidden champion?

And companies like GEA Group AG (18,642 employees, €4.8 billion revenues) or ElringKlinger AG (10,033 employees, €1.7 billion revenues) are hidden champions (following Simon’s definition) even though they do not belong to the Mittelstand regarding both definitions, as they are not owner-managed and surpass the employee and revenue limit.