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Potential of Regional Fuel and Energy Complex with the Typological Features of Regional Development

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  • Maxim Vasilyevich Chernyaev
  • Elena Mikhaylovna Grigorieva
  • Tatiana Fedorovna Kreydenko

Abstract

Purpose: Fuel & Energy Complex (FEC) has a significant share in the economic system and has the most extensive potential for introducing innovations. Authors suggest innovative potential of regional FEC considering the specifics of regional economic development. Design/Methodology/Approach: To evaluate the attainability of economic growth in conjunction with the goals of energy efficiency and energy independence and to make decisions on adjustments in energy policy, the authors propose a three-component integrated index of elasticity of energy efficiency for each typological group of region, including the index of innovative potential of the regional Fuel & Energy Complex, the index of energy supply efficiency of consumers in the region and the sustainability index of the region’s energy system. Findings: The survey identified five typological groups of regions reflecting the features of regional FEC development. Considering the significance of factors affecting innovative potential, seven groups of such factors were proposed for formation, and the significance of each factor was determined in accordance with the typological group of the region. Practical implications: Each of the three components of the integrated index makes its specific contribution to the resulting quantitative indicator, the value of which will reflect the degree to which the regional energy policy has reached its target priorities, and to meet the urgent challenges of modern innovative sustainable energy technologies. Originality/Value: Realisation of the innovative potential of regional FEC should be closely linked with indicators of energy efficiency and energy independence in order to ensure the development of regional economies, including the achievement of global climate goals.

Suggested Citation

  • Maxim Vasilyevich Chernyaev & Elena Mikhaylovna Grigorieva & Tatiana Fedorovna Kreydenko, 2020. "Potential of Regional Fuel and Energy Complex with the Typological Features of Regional Development," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 334-347.
    • Handle: RePEc:ers:journl:v:xxiii:y:2020:i:1:p:334-347
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    References listed on IDEAS

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    1. Tan, R.R. & Aviso, K.B. & Ng, D.K.S., 2019. "Optimization models for financing innovations in green energy technologies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 113(C), pages 1-1.
    2. Tatiana Fedorovna Kreydenko & Maxim Vasilyevich Chernyaev & Elena Mikhaylovna Grigorieva, 2018. "Issues of Developing the Tool for Diagnosis of Energy Efficiency Level of Russian Regions Economy," International Journal of Energy Economics and Policy, Econjournals, vol. 8(4), pages 187-198.
    3. Valery Vasilyevich Bezpalov & Dmitry Valerievich Fedyunin & Natalya Anatolievna Solopova & Svetlana Alekseevna Avtonomova & Sergey Alexandrovich Lochan, 2019. "A model for managing the innovation-driven development of a regional industrial complex," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(4), pages 1884-1896, June.
    4. Maxim ?hernyaev & Elena Grigorieva & Tatiana Kreidenko & Irina Rodionova, 2019. "Methodology of the Process of Improving the Support Tools for Fuel and Energy Complex Within the Context of Achieving Energy Efficiency and Energy Independence of the Region," International Journal of Energy Economics and Policy, Econjournals, vol. 9(1), pages 250-261.
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