Scandinavian Working Papers in Economics
Working Papers,
Copenhagen Business School, Department of Economics
No 18-2020: Energy Network Innovation for Green Transition: Economic Issues and Regulatory Options
Tooraj Jamasb (), Manuel Llorca (), Leonardo Meeus () and Tim Schittekatte ()
Additional contact information
Tooraj Jamasb: Department of Economics, Copenhagen Business School, Postal: Copenhagen Business School, Department of Economics, Porcelaenshaven 16 A. 1. floor, DK-2000 Frederiksberg, Denmark
Manuel Llorca: Department of Economics, Copenhagen Business School, Postal: Copenhagen Business School, Department of Economics, Porcelaenshaven 16 A. 1. floor, DK-2000 Frederiksberg, Denmark
Leonardo Meeus: Florence School of Regulation (FSR), Robert Schuman Centre for Advanced Studies, European University Institute, Italy and Vlerick Energy Centre, Vlerick Business School, Belgium
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
Abstract: 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
JEL-codes: L50; L90; O30; Q40; Q50
19 pages, November 27, 2020
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