Companies operating in the semiconductor and other energy-related sectors are being brought together are part of a special partnership in the US.
Semiconductor Research Corporation (SRC) has established a $5 million (£3.27 million) industry-university initiative to aid the development of clean, reliable and energy efficient technologies.
The participating companies will be teamed with educational research centres to establish how smart energy sources, such as LEDs, can be brought to the industry.
Steven Hillenius, SRC executive vice-president, said: "The pervasive use of simulation in semiconductor process development, device design and system analysis has been a critical factor in the success of the electronics industry."
Initial research will examine how a smart gird electricity infrastructure can be integrated with renewable energy sources.
It will also address how the development of photovoltaic devices can be improved.
A study conducted by Lux Research recently revealed that LEDs and automated control technologies can reduce the amount of energy required to light commercial buildings.