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Energy Industry: Effectiveness from Innovations

Author

Listed:
  • Michael Evgenievich Kosov

    (Department of Public Finance, Financial University under the Government of the Russian Federation, Russian Federation,)

  • Ravil Gabdullaevich Akhmadeev

    (Department of Finance and Prices, Plekhanov Russian University of Economics, Russian Federation)

  • Denis Aleksandrovich Smirnov

    (Tax Policy and Customs Tariff Regulation Department, Financial University under the Government of the Russian Federation, Russian Federation,)

  • Svetlana Petrovna Solyannikova

    (Department of Public Finance, Financial University under the Government of the Russian Federation, Russian Federation,)

  • Inna Nikolaevna Rycova

    (Sectorial Economy Center, Financial Research Institute of the Ministry of Finance of the Russian Federation, Russian Federation.)

Abstract

Putting the energy industry on the way of innovations is a task of utmost importance, whose success will shape up future development and competitiveness of emerging economies to a great extent. Research of the main trends of innovative development of distributed generation demonstrated that they are characterized by high spending both on installation of innovative power equipment and on its creation. Our research of financing in the Russian distributed energy and power engineering demonstrated that the bulk of capital investment is done from companies own funds, which points to the unaffordability of other funding instruments, credit included. Consequently, the process of creating and using innovations in distributed energy is accompanied by significant investment risks. This scientific research offers an approach to innovations in distributed energy based on coordination of economic interests of innovation process subjects with the aim of optimizing the task of looking for a threshold price through defining and comparing the effectiveness of a novelty for its creators, consumers and the state with the help of an internal rate of return. The use of a business approach to the introduction of innovations in the distributed energy will coordinate the interests of the producer of innovative equipment and the energy company. Such an approach will ensure co-financing of innovation research and development of all subjects of the relations.

Suggested Citation

  • Michael Evgenievich Kosov & Ravil Gabdullaevich Akhmadeev & Denis Aleksandrovich Smirnov & Svetlana Petrovna Solyannikova & Inna Nikolaevna Rycova, 2018. "Energy Industry: Effectiveness from Innovations," International Journal of Energy Economics and Policy, Econjournals, vol. 8(4), pages 83-89.
    • Handle: RePEc:eco:journ2:2018-04-11
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    References listed on IDEAS

    as
    1. Hamada, Robert S, 1972. "The Effect of the Firm's Capital Structure on the Systematic Risk of Common Stocks," Journal of Finance, American Finance Association, vol. 27(2), pages 435-452, May.
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    Cited by:

    1. Vadim Ponkratov & Andrey Pozdnyaev & Nikolay Kuznetsov, 2018. "Evaluating the Impact of Russian Excise Duty on Oil Products on the Development of Oil Refining and Oil Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 414-425.
    2. Mikhail Lvovitch Dorofeev, 2022. "Interrelations between Income Inequality and Sustainable Economic Growth: Contradictions of Empirical Research and New Results," Economies, MDPI, vol. 10(2), pages 1-23, February.
    3. Gleb Aksenov & Ronglin Li & Qamar Abbas & Houlda Fambo & Sergey Popkov & Vadim Ponkratov & Mikhail Kosov & Izabella Elyakova & Marina Vasiljeva, 2023. "Development of Trade and Financial-Economical Relationships between China and Russia: A Study Based on the Trade Gravity Model," Sustainability, MDPI, vol. 15(7), pages 1-39, March.
    4. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:414-425 is not listed on IDEAS

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    More about this item

    Keywords

    innovation processes; power equipment; power energy; heat energy; economy; taxation; capital investment; energy efficiency; digital information;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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