In this blog, we’ll explain why R&D centers are so crucial for engineering companies, particularly in relation to creating advanced innovations in renewable energy industry.
According to data from a Statista, in 2021, the energy sector’s global research and development (R&D) expenditure reached almost 20 billion euros, with the European Union and China leading in spending. Specifically, in 2019, more than 13 billion euros (equivalent to 13.3 billion U.S. dollars) of this funding was allocated to R&D efforts focused on renewable energy.From 2000 to 2020, the total contribution of the EU to R&D centers in the field of renewable energy increased in 5 times and will increase even more in the near future. The increase in funding for R&D centers in the EU from the European Commission is observed most in Germany, Spain and France.
Why is research and development important in the renewable energy sector?
R&D centers of engineering companies are not only an element of a positive brand image, but also a vital stimulus for innovations. R&D centers act like hubs for interdisciplinary research, contributing to the transition to a greener future. Development and research in such centers are characterized by a long cycle of manufacturing of products for several years.
Firstly, the renewable energy field holds great promise, but competition is increasing steadily as more players enter the market. Having its own R&D center allows every engineering company to be involved in the development of new technologies and ensure competitive advantages.
Secondly, the renewable energy industry is subject to changes in legislation and market conditions. The company’s R&D center enables swift adaptation to evolving conditions and facilitates the creation of solutions aligned with emerging needs.
And thirdly, possessing an in-house R&D centers empowers engineering companies to lessen their reliance on external technology and material suppliers, enabling better control over product costs and quality. The establishment of an R&D center fosters an environment conducive to cultivating an innovative culture within the company. This, in turn, attracts high-skilled scientists and engineers, fostering the generation of some new ideas and products.
Why does COR-Energy require its own R&D center?
R&D center appeared in COR-Energy two years ago and actively involved in various areas, including development of innovative flywheel energy storage systems, uninterruptible power supply, medical hardware manufacturing, firmware and circuit development.
It is important to note that our R&D center controls the PCB (printed circuit board) design process, ensuring their compliance with the requirements of each specific project.
The development of medical hardware requires careful planning, extensive testing, and close collaboration with engineering experts, particularly to ensure compliance with high safety standards and effective interaction with the medical environment.
The focus of our R&D research is also the development of interface software and the creation of mobile applications.
The work of our research and development includes also creating and implementation of R&D strategy. After that providing support to customers at all stages of product creation – from feasibility analysis concerning new products, testing and MVP and launching fully functional and scalable products.
What is the importance of an R&D center?
R&D centers in the renewable energy sector are a key elements that helps maintain competitiveness and innovative development of companies’ brands. Development and research allows manufacturers to significantly improve their products, reducing time to market and ensuring high product quality.