Title: Marine energy innovation in the UK energy system: financial capital, social capital and interactive learning
Author: Mark Winskel
Address: Institute for Energy Systems, School of Engineering and Electronics, The University of Edinburgh, Edinburgh EH9 3JL, UK
Abstract: Innovation activity in marine energy (wave and tidal stream) has been catalysed by a series of recent UK policy initiatives. However, the wider UK energy system remains substantially oriented to market competition and efficiency. As a result, tensions have emerged between recent R&D activity (especially interactive and collaborative learning) and its economic and institutional context. Drawing on interviews with marine energy device developers, these tensions are interpreted here as a conflict between social capital and financial capital. At the same time, the case also reveals complementary aspects of the relationship between social and financial capital.
Keywords: renewable energy; marine energy; innovation; social capital; financial capital; venture capital; intellectual property; UK energy; United Kingdom; interactive learning; collaborative learning; wave power; tidal power; wave energy.
Int. J. of Global Energy Issues, 2007 Vol.27, No.4, pp.472 - 491
Available online: 13 Aug 2007