Inderscience Publishers

Marine energy innovation in the UK energy system: financial capital, social capital and interactive learning

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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

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