Patent Trends in the Renewable Energy Sector
Has innovation in renewable energy been slowing down? Patents are a unique indicator for technology development. They are one of the most accurate and timely resources for estimating the trend of development in a technical field. Global warming and environmental pollution call for clean technology to provide affordable alternative energy sources, as well as reduced carbon emission. There is speculation that the drastic policy changes of the Trump administration and Congress might reduce innovation in cleantech, which could be evidenced by the decreased number of cleantech patents granted by the USPTO since 2014. Since the patent filing process generally experiences a time lag of around two years, the drop in the number of granted patents is more likely the result of a decreased number of patents filed around 2012-2013. IRENA (International Renewable Energy Agency) data shows that 28,282 renewable energy patents were filed in the U.S. in 2012, while 18,311 were f...