Energy Network Innovation for Green Transition: Economic Issues and Regulatory Options
Manuel Llorca (),
Leonardo Meeus and
Tim Schittekatte ()
Additional contact information
Tim Schittekatte: Florence School of Regulation (FSR), Robert Schuman Centre for Advanced Studies, European University Institute, Italy and Vlerick Energy Centre, Vlerick Business School, Belgium, https://fsr.eui.eu/people/schittekatte/
No 18-2020, Working Papers from Copenhagen Business School, Department of Economics
In this age of low-cost capital and stimulus packages, is it the best time to heavily invest in tomorrow’s energy networks and research infrastructure? In the academic literature it is widely acknowledged that innovation is key to decarbonise the energy sector and foster sustainable development. However, post liberalisation has been struggling to promote R&D and innovation. Is this the case of business, regulatory, or policy failure, or are there other factors involved? In this paper, we discuss the reasons for slow uptake of new technologies in energy networks and propose some remedies for the European context, where innovation in the area of energy networks is crucial for the implementation of the Green Transition. The solutions to address this shortfall need to be considered in an overarching manner. The specific points raised here are based on incentive regulation, the establishment of competitive funding models like Ofgem’s Low Carbon Network Fund and a large European collaborative research hub.
Keywords: Energy network infrastructure; European green deal; Innovation; Research and development (search for similar items in EconPapers)
JEL-codes: L50 L90 O30 Q40 Q50 (search for similar items in EconPapers)
Pages: 19 pages
New Economics Papers: this item is included in nep-ene, nep-env, nep-ino, nep-reg and nep-tid
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