Renewable Energy Innovation
The compelling evidence of global climate change, the high rate of energy consumption, limited fossil fuel resources and increasing awareness of environmental issues have all contributed to a revitalized interest in renewable energy technologies. Technological innovation will play a major role in tackling these global energy issues which, together with the current rapid diffusion of technologies, will offer high rewards to successful players in this field.
Many of these innovations will likely be incremental, driving down a cost curve for existing renewable technologies, but the huge challenges of reducing carbon dioxide emissions at economically acceptable costs could spawn some disruptive innovation. The global energy market is so huge that renewable energy innovation will be challenged by the gigantic scale of this business sector.
Renewable technology patents have grown significantly in recent years reaching some 900 granted in the US in 2007, as tracked by the so-called Clean...