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Learning rates are a central concept in energy system models and integrated assessment models, as they allow researchers to project the future costs of new technologies and to optimise energy system costs. Here, we argue that exchange rate fluctuations are an important but thus far overlooked determinant of the learning rate variance observed in the literature. We explore how empirically observed global learning rates depend on where technologies are installed and which currency is used to calculate the learning rate. Using global data of large-scale PV (≥5 MW) plants, we show that the currency choice can result in learning rate differences of up to 16 percentage points. We then introduce an adjustment factor to correct for the effect of exchange rate and market focus fluctuations and discuss the implications of our findings for innovation scholars, energy modellers and decision-makers.

Energy efficiency measures and the deployment of renewable energy are commonly presented as two sides of the same coin—as necessary and synergistic measures to decarbonize energy systems and reach the temperature goals of the Paris Agreement. Here, we quantitatively investigate the policies and performances of the EU Member States to see whether renewables and energy efficiency policies are politically synergistic or if they rather compete for political attention and resources. We find that Member States, especially the ones perceived as climate leaders, tend to prioritize renewables over energy efficiency in target setting. Further, almost every country performs well in either renewable energy or energy efficiency, but rarely performs well in both. We find no support for the assertion that the policies are synergistic, but some evidence that they compete. However, multi-linear regression models for performance show that performance, especially in energy efficiency, is also strongly associated with general economic growth cycles, and not only efficiency policy as such. We conclude that renewable energy and energy efficiency are not synergistic policies, and that there is some competition between them.

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