Engineering:Commercial readiness index
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Short description: Benchmarking tool
The Commercial Readiness Index (CRI)[1] is a benchmarking tool developed by the Australian Renewable Energy Agency (ARENA) to assess the commercial maturity of renewable energy technologies and projects. It is designed to guide project proponents and investors in evaluating the commercial viability of renewable energy solutions.[2]
Relationship to Technology Readiness Levels
The CRI is intended to be used to measure commercial readiness alongside technological readiness which may be measured using Technology readiness level (TRL).[2][3]
Definitions
The CRI rating is a single, overall rating on a scale from 1 to 6, reflecting the current market position of a technology.[1] The levels are:
| CRI[1] | Description[1] | Details[1] |
|---|---|---|
| 1 | Hypothetical commercial proposition | Technology is technically feasible but lacks verifiable commercial data |
| 2 | Commercial trial, small scale | First-of-its-kind project, typically supported by equity and government funding, with limited public data |
| 3 | Commercial scale-up | Technology is scaling up with specific policy support and emerging debt financing |
| 4 | Multiple commercial applications | Technology is deployed in multiple contexts, often with subsidies, and supported by public performance data |
| 5 | Market competition | Competition drives widespread deployment, with commoditization of components and financial products |
| 6 | Bankable asset class | Technology is fully mature, with established standards and minimal market or technology risks influencing investment decisions |
References
- ↑ 1.0 1.1 1.2 1.3 1.4 Commercial Readiness Index for Renewable Energy Sectors (Report). Australia: Australian Renewable Energy Agency. 2014. pp. 1–5. https://arena.gov.au/assets/2014/02/Commercial-Readiness-Index.pdf. Retrieved 2018-01-24.
- ↑ 2.0 2.1 IEA Renewable Energy Technology Deployment Technology Collaboration Programme (IEA RETD TCP) (2017). Commercial Readiness Index Assessment Using the Method as a Tool in Renewable Energy Policy Design. pp. 4–8. http://archive.org/details/assessing-the-commercial-maturity-of-renewable-energy-technologies-moving-beyond.
- ↑ Haugen (2018). A framework for assessment of Technological Readiness Level (TRL) and Commercial Readiness Index (CRI) of asset end-of-life strategies. pp. 1767–1773. ISBN 978-0-8153-8682-7. http://archive.org/details/a-framework-for-assessment-of-technological-readin.
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