The electrical sector is in the eve of profound modifications due to the market diffusion of several related technologies. Some drivers of this transition are: the increasing support from society for reducing carbon emissions; the growing speed of development and cost reduction of renewable energy generation technologies; new energy storage devices; new automation spread all over the network; a dramatic increase of the computational capacity; and new regulations related to energy usage. Innovation will play a key role in the transition process of the electric sector, promoting changes and creating opportunities for new technology, products, system, regulation and business structures. Since July 2000, law 9.991 established the Brazilian Electric Sector R&D Program that states that 1% of the income of the electric companies must be invested in R&D (research and development) projects, 40% of this overall budget stay under the electric company discretion (the Program is coordinated by the Brazilian electric sector regulatory agency, ANEEL). As a result, BRL 13.5 Billion (approximately equivalent to USD 3.5 Billion) were invested in 4,300 projects from the year 2000 until 2014. What were the results achieved by the Program? And how has it contributed (or not) to the ongoing transition process? To date, no systematic and comprehensive study has looked at the whole period of the Program. This study introduces the first insights of a two-year research project that seeks to address these questions and to fill this gap. It presents an overview of the projects that have been carried out since 2000, and develops a unique methodology that will be used to evaluate the qualitative and quantitative historical benefits of the Program. The methodology considers four perspectives: electric companies, electric sector, academic sector and systems and services providers. It will also present scenarios that will be considered to improve the R&D Program and to inform related public policies and regulations that seek to stimulate Brazilian companies to invest in the electric sector innovation process, and ultimately contribute to the sector’s transition.