R&D drivers and obstacles to innovation in the energy industry

Maria Costa-Campi, N. Duch-Brown and Jose Garcia-Quevedo
Authors registered in the RePEc Author Service: Néstor Duch Brown

Energy Economics, 2014, vol. 46, issue C, 20-30

Abstract: The energy industry is facing substantial challenges that require the fostering of innovation. In this paper we analyse the main drivers of R&D investment and obstacles to innovation in this industry. We examine, firstly, whether the stated R&D objectives pursued by firms play a role in their R&D effort. Secondly, we analyse the effects of financial, knowledge and market barriers on the innovation outcomes of the firms. The data is taken from the Technological Innovation Panel (PITEC) for Spanish firms for the period 2004–2010. We use a structural model with three equations corresponding to the decision to carry out R&D or not, the R&D effort, and the production of innovations. The results of the econometric estimations show, first, that R&D intensity is positively related to process innovation. Second, the main barriers that hamper innovation in the energy industry are related to market factors while financial and knowledge obstacles are not significant.

Keywords: R&D; Innovation; Energy; Barriers; Regulation (search for similar items in EconPapers)
JEL-codes: O31 Q40 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (40)

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Working Paper: R&D drivers and obstacles to innovation in the energy industry (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:46:y:2014:i:c:p:20-30

DOI: 10.1016/j.eneco.2014.09.003

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