Latest data on renewables patents suggests low-carbon revolution is gathering speed
Over the last 12 months there has been a 43 per cent jump in the number of patents filed for green energy innovations, according to new data released today which suggests the pace of low-carbon R&D may be accelerating.
More than 14,800 patents were filed globally in 2017 for renewable energy, up 43 per cent from 10,500 in 2016, according to data released today by law firm EMW.
Around the world, China is leading the green innovation charge, filing 76 per cent of all renewable energy patents last year. It was followed by the US in second place, then Australia, India, and Canada. The UK filed 44 renewable energy patents, putting it in seventh place in the rankings with 0.3 per cent of the total.
Solar power patents are proving particularly popular, accounting for 56 per cent of all green energy patents filed in 2017.
"The rising profitability of 'green' energy has prompted many companies to invest in developing and patenting filings as innovation races ahead," noted James Geary, principal at EMW.
But Geary warned that countries could fall behind in the innovation race if government enthusiasm wanes. "There are concerns that the US could see a drop in patenting 'green' products as the Trump administration looks to cut government research spending in the industry," he said.