Abstract
This thesis investigates the institutional market-making processes for transitioning the geothermal energy market in Northern Ireland, highlighting the socio-institutional dynamics as part of the wider net-zero transition. The research is presented through three core articles, each addressing different aspects of institutional influences on market transition.The first article explores the role of collective vision-making practice in overcoming market inertia. It presents a two-dimensional model illustrating how multi-stakeholder collaboration can establish shared goals, aligning various interests to revitalise the geothermal market. The research identifies key dimensions such as animating, grounding, and storying, which collectively aid in transitioning 'stuck' markets towards more dynamic states.The second article examines institutional imprinting within the emerging geothermal market ecosystem. Utilising Interpretive Structural Modeling (ISM) and MICMAC analysis, it reveals a 'scrappy ecosystem' where imprinting is uneven across institutional actors, influenced by specific imprinters like technology blue print and green finance. This study highlights the selective impact of institutional forces on ecosystem components, advocating for strategic alignment to foster a resilient market structure.The third article focuses on the strategic dynamics between institutional stances, market intent, and realisation, employing Mintzberg’s strategy model and Gioia framework analysis. It identifies institutional stances, such as market sensing and projecting, that influence geothermal market outcomes. The study proposes the concept of 'market stents' to describe strategies that help maintain market equilibrium amidst fluctuating institutional stances.Together, these studies contribute to an institutional market-making framework that features the need for sustained institutional engagement through social flow maintenance work. The thesis argues that geothermal energy market development hinges not just on technical innovation but on understanding and navigating the complex social and institutional landscapes that shape market evolution. The findings offer insights for policymakers and industry stakeholders on creating cohesive strategies to support renewable energy market transitions.Thesis is embargoed until 31 December 2025.
| Date of Award | Dec 2024 |
|---|---|
| Original language | English |
| Awarding Institution |
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| Sponsors | NERC QUADRAT & Northern Ireland Department for the Economy |
| Supervisor | Ulrich Ofterdinger (Supervisor) & Mark Palmer (Supervisor) |
Keywords
- Geothermal
- Net-zero
- Market-making
- Collective vision-making practice
- Stuck market
- Institutional imprinters
- Scrappy environment
- Institutional stances
- Market stenting
- Market projecting
- Market sensing
- Market equilibrium
- Institutional market-making framework
- Social flow maintenance work
- Market making-preneurs