Table 1 Identified success factors for technological innovation in SSEs.

1

Cost-effectiveness and economic viability (F1)

Technology enhances financial sustainability by lowering operational costs, maintaining quality, and enabling competitive pricing. Economic viability ensures sustainable innovation by balancing investment returns with long-term market resilience

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2

Technological feasibility and differentiation (F2)

Energy technologies must possess differentiated features to maintain a competitive edge. Technological feasibility involves evaluating, developing, implementing, and maintaining technologies based on existing capabilities and resources. To ensure successful deployment, innovations must offer both competitive advantages and compatibility with current energy infrastructure

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3

Scalability and adaptability (F3)

The success of a sustainable energy venture depends on its ability to adapt to resource availability, energy policies, customer demands, and market conditions. Scalable technology enables expansion while responding to grid system changes and market volatility, ensuring resilience and long-term viability. By offering unique value and sustainability, scalability and operational adaptability become critical factors in technology development

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4

Market dynamics (F4)

Market dynamics encompass competition, pricing, supply chains, customer preferences, and industry trends, all of which shape technology development. Successful market adaptation requires strategic insights into fluctuations, enabling businesses to respond to volatility, enhance profitability, and ensure long-term survival. Integrating these factors into technology development is essential for future sustainability and competitiveness

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5

Partnerships and collaboration (F5)

Partnerships and collaboration among different stakeholders influence energy technology development, help in the exchange of risks, expertise, finance, and other resources, and foster innovation and access to different markets. The collaboration between all the stakeholders will impact the development of energy technology

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6

Risk management and resilience (F6)

Effective risk management is essential for ensuring long-term sustainability by mitigating contingencies, disruptions, and uncertainties in technology development. Identifying risk sources, evaluating potential impacts, and implementing mitigation strategies enhance operational efficiency and performance. Proactive risk management fosters enterprise resilience, adaptability, and trust, which are critical for the success and development of energy technologies

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7

Long-term sustainability (F7)

The environmental, social, and financial benefits of technology, combined with customer education and awareness, are essential for technology innovation and sustainability. Integrating sustainable energy technologies enhances reputation, long-term viability, and resource efficiency, aligning with triple-bottom-line (TBL) principles. Educating consumers on the advantages of sustainable technologie reduces environmental impact, making long-term sustainability a key driver of technology development

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8

Regulatory compliance (F8)

Regulatory compliance and industry standards are crucial for technology development, ensuring adherence to legal and policy frameworks. Laws, rules, and certifications—such as Minimum Energy Performance Standards (MEPS) for energy systems, IEC standards for photovoltaic (PV) systems, and IEEE standards for grid-connected renewable energy—enhance operational safety, efficiency, and reliability. Compliance helps avoid fines, penalties, and operational challenges while fostering customer trust and market acceptance

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