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The EU energy policy focuses on broader use of renewable energy. Accordingly, it is currently important to invest in innovations in renewable energy production in order to meet the commitment in the future. In Latvia, according to some experts, innovation performance in renewable energy production is low compared with that in other bioeconomy industries in particular. The research aims to assess innovation performance in renewable energy production on a global and local scale, employing the Global Innovation Index indicators and expert opinions. The Global Innovation Index shows overall innovation performance in a country as a whole, while GDP per capita measures the economic potential of the country, including the capability to allocate resources to innovation. In terms of innovation in electrical energy production, Sweden and Finland were ranked high, while Luxembourg and Lithuania were ranked low. An analysis of the opportunities provided by a high development level of a country in terms of GDP per capita revealed that the potential for innovation in the EU was used the most successfully by Finland, the United Kingdom, Estonia and Bulgaria. Investment in knowledge and technology is a very important component for assessing the global innovation level; in the Baltic States – Latvia and Lithuania – the investment could be rated as very low, while in Estonia – as low. This points to a threat to renewable energy production in the future. In Latvia, as pointed out by the experts, the government policy uncertainty affected innovation in the field of renewable energy the most. The fact that scientists and researchers rated innovation in the field of renewable energy in Latvia higher than the industry experts did could be viewed both positively and negatively, as this indicated that innovations were introduced in the energy industry, yet knowledge transfer to the energy industry lagged behind and was insufficient.

Innovation level on global and national scale in context of renewable energy production in Latvia