Innovations in conventional and renewable power generation. Comparative analysis

Innovations in power generation appear to reveal themselves as the drivers of New Industrial Revolution and digital economy. These innovations are capable to change our views upon true benefits and costs of this or that source of electricity. Comparative analysis of conventional and renewable energy demonstrated different models of innovative activities. Mature, with large expenditures on capital intensive R&D, conventional power generation is grounded on own corporate investment and focuses more on technological depth, than technological width of research. Coexistence of innovations and conventional energy stop to be unusual, as it is demonstrated by patent analysis of coal generation, prevailing in the world. Innovative, with the highest rate of patent activity, but less significant R&D budget, renewable energy prefers to diversity of technological decisions and involves the net forms of support. Prospects of power generation are interwoven with energy startups and net forms of innovation activity, important for solving problems of ineffective expenditures on R&D, intellectual fraud, technological lock-in

Keywords: New Industrial Revolution, digital economy, power generation, fossil fuels, renewable energy, comparative analysis, innovation, R&D expenditures, patent activity, startups, technological lock-in

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