Determinants of the Pace of Global Innovation in Energy Technologies
Understanding the factors driving innovation in energy technologies is of critical importance to mitigating climate change and addressing other energy-related global challenges. Low levels of innovation, measured in terms of energy patent filings, were noted in the 1980s and 90s as an issue of conce...
| Main Authors: | , , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Public Library of Science
2014
|
| Online Access: | http://hdl.handle.net/1721.1/83474 https://orcid.org/0000-0001-6305-2105 |
| _version_ | 1826213797867552768 |
|---|---|
| author | Kaur, Jasleen Trancik, Jessika E. Bettencourt, Luis M. A. |
| author2 | Massachusetts Institute of Technology. Engineering Systems Division |
| author_facet | Massachusetts Institute of Technology. Engineering Systems Division Kaur, Jasleen Trancik, Jessika E. Bettencourt, Luis M. A. |
| author_sort | Kaur, Jasleen |
| collection | MIT |
| description | Understanding the factors driving innovation in energy technologies is of critical importance to mitigating climate change and addressing other energy-related global challenges. Low levels of innovation, measured in terms of energy patent filings, were noted in the 1980s and 90s as an issue of concern and were attributed to limited investment in public and private research and development (R&D). Here we build a comprehensive global database of energy patents covering the period 1970–2009, which is unique in its temporal and geographical scope. Analysis of the data reveals a recent, marked departure from historical trends. A sharp increase in rates of patenting has occurred over the last decade, particularly in renewable technologies, despite continued low levels of R&D funding. To solve the puzzle of fast innovation despite modest R&D increases, we develop a model that explains the nonlinear response observed in the empirical data of technological innovation to various types of investment. The model reveals a regular relationship between patents, R&D funding, and growing markets across technologies, and accurately predicts patenting rates at different stages of technological maturity and market development. We show quantitatively how growing markets have formed a vital complement to public R&D in driving innovative activity. These two forms of investment have each leveraged the effect of the other in driving patenting trends over long periods of time. |
| first_indexed | 2024-09-23T15:54:59Z |
| format | Article |
| id | mit-1721.1/83474 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T15:54:59Z |
| publishDate | 2014 |
| publisher | Public Library of Science |
| record_format | dspace |
| spelling | mit-1721.1/834742022-09-29T17:00:12Z Determinants of the Pace of Global Innovation in Energy Technologies Kaur, Jasleen Trancik, Jessika E. Bettencourt, Luis M. A. Massachusetts Institute of Technology. Engineering Systems Division Trancik, Jessika E. Understanding the factors driving innovation in energy technologies is of critical importance to mitigating climate change and addressing other energy-related global challenges. Low levels of innovation, measured in terms of energy patent filings, were noted in the 1980s and 90s as an issue of concern and were attributed to limited investment in public and private research and development (R&D). Here we build a comprehensive global database of energy patents covering the period 1970–2009, which is unique in its temporal and geographical scope. Analysis of the data reveals a recent, marked departure from historical trends. A sharp increase in rates of patenting has occurred over the last decade, particularly in renewable technologies, despite continued low levels of R&D funding. To solve the puzzle of fast innovation despite modest R&D increases, we develop a model that explains the nonlinear response observed in the empirical data of technological innovation to various types of investment. The model reveals a regular relationship between patents, R&D funding, and growing markets across technologies, and accurately predicts patenting rates at different stages of technological maturity and market development. We show quantitatively how growing markets have formed a vital complement to public R&D in driving innovative activity. These two forms of investment have each leveraged the effect of the other in driving patenting trends over long periods of time. National Science Foundation (U.S.) (Grant SBE-0738187) Solomon Buchsbaum AT&T Research Fund 2014-01-06T14:18:34Z 2014-01-06T14:18:34Z 2013-10 2012-11 Article http://purl.org/eprint/type/JournalArticle 1932-6203 http://hdl.handle.net/1721.1/83474 Bettencourt, Luis M. A., Jessika E. Trancik, and Jasleen Kaur. “Determinants of the Pace of Global Innovation in Energy Technologies.” Edited by Alejandro Raul Hernandez Montoya. PLoS ONE 8, no. 10 (October 14, 2013): e67864. https://orcid.org/0000-0001-6305-2105 en_US http://dx.doi.org/10.1371/journal.pone.0067864 PLoS ONE http://creativecommons.org/licenses/by/2.5/ application/pdf Public Library of Science PLoS |
| spellingShingle | Kaur, Jasleen Trancik, Jessika E. Bettencourt, Luis M. A. Determinants of the Pace of Global Innovation in Energy Technologies |
| title | Determinants of the Pace of Global Innovation in Energy Technologies |
| title_full | Determinants of the Pace of Global Innovation in Energy Technologies |
| title_fullStr | Determinants of the Pace of Global Innovation in Energy Technologies |
| title_full_unstemmed | Determinants of the Pace of Global Innovation in Energy Technologies |
| title_short | Determinants of the Pace of Global Innovation in Energy Technologies |
| title_sort | determinants of the pace of global innovation in energy technologies |
| url | http://hdl.handle.net/1721.1/83474 https://orcid.org/0000-0001-6305-2105 |
| work_keys_str_mv | AT kaurjasleen determinantsofthepaceofglobalinnovationinenergytechnologies AT trancikjessikae determinantsofthepaceofglobalinnovationinenergytechnologies AT bettencourtluisma determinantsofthepaceofglobalinnovationinenergytechnologies |