Economic Analysis: Theory and Practice
 

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Factors for initiating innovation projects on smart grid implementation: Best practices

Vol. 18, Iss. 4, APRIL 2019

Received: 16 January 2019

Received in revised form: 28 January 2019

Accepted: 14 February 2019

Available online: 26 April 2019

Subject Heading: EVALUATION OF INVESTMENT PROJECTS

JEL Classification: L94, P48, Q4, Q55

Pages: 714–737

https://doi.org/10.24891/ea.18.4.714

Sal'nikova A.A. Kuban State University (KubSU), Krasnodar, Russian Federation
salnikova.anastasia89@gmail.com

ORCID id: not available

Subject The article addresses the global experience in smart grid implementation and initiation of innovation projects in this sphere.
Objectives The aim is to examine the factors contributing to initiation and implementation (with State support) of innovation projects in the field of smart grids.
Methods The study employs multiple case studies, comparative and factor analysis.
Results In addition to the need to integrate into the common network of renewable energy sources, the important factors of decision-making on initiating and implementing innovative projects include the improvement of efficiency and quality of energy supply, development of electric transport, desire to expand the market of innovative goods and services in the field of smart technologies.
Conclusions Intelligent networks (or smart grids) are important and necessary for deployment of clean energy technologies. The functionalities of intelligent networks open the door to large-scale integration of renewable energy sources, active participation of users in energy management, energy efficiency, and environmental impact reduction. The world experience of pilot projects proved that in future it is possible to increase the share of renewable energy almost to 100%, if we move to a new and more effective approach to energy management based on the use of smart grids and respective technologies.

Keywords: smart grid, innovation

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