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Influencing Factors Promoting Technological Innovation in Renewable Energy

Author

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  • Nnaemeka Vincent Emodi

    (Department of Technology Management, Economics and Policy Program, College of Engineering, Seoul National University, Seoul, South Korea)

  • Ganzorig Shagdarsuren

    (Department of Technology Management, Economics and Policy Program, College of Engineering, Seoul National University, Seoul, South Korea)

  • Abdissa Yilma Tiky

    (Department of Technology Management, Economics and Policy Program, College of Engineering, Seoul National University, Seoul, South Korea)

Abstract

The issue of climate change, oil price fluctuation and the increasing environmental awareness have triggered the importance of effective energy management systems in a bid to reduce greenhouse gases. Renewable energy (RE) which is one of the effective method of effectively managing energy system has seen rapid development in recent times. Technological innovation in RE have not been generally successful due to some influencing factors in some countries. This study investigates these factors in order to identify the influencing factors promoting innovation in RE. Using patent application data for 12 Organization for Economic Co-operation and Development countries for the period of 1997-2011, we analysis the influence of government R and D, feed-in-tariff (FIT), electricity from renewables, per capita income, CO2 emission per capita and population on patenting activity in wind and solar energy using a panel data approach. The result showed that electricity from renewables and CO2 emission per capita significantly improves patenting activity. Per capita income showed a positive impact on patenting activity for wind energy but not solar energy. Population size was observed to reduce patent activity, while R and D expenditure and FIT did not significantly influence patent activity. We therefore recommend that investment into renewables for electricity generation should be encouraged as this will induce innovation in RE technology and reduce CO2 emission.

Suggested Citation

  • Nnaemeka Vincent Emodi & Ganzorig Shagdarsuren & Abdissa Yilma Tiky, 2015. "Influencing Factors Promoting Technological Innovation in Renewable Energy," International Journal of Energy Economics and Policy, Econjournals, vol. 5(3), pages 889-900.
    • Handle: RePEc:eco:journ2:2015-03-30
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    References listed on IDEAS

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    1. Bointner, Raphael, 2014. "Innovation in the energy sector: Lessons learnt from R&D expenditures and patents in selected IEA countries," Energy Policy, Elsevier, vol. 73(C), pages 733-747.
    2. Albrecht, Johan & Laleman, Ruben & Vulsteke, Elien, 2015. "Balancing demand-pull and supply-push measures to support renewable electricity in Europe," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 267-277.
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    Cited by:

    1. Geraldine Ang & Dirk Röttgers & Pralhad Burli, 2017. "The empirics of enabling investment and innovation in renewable energy," OECD Environment Working Papers 123, OECD Publishing.
    2. Kristoffer Palage & Robert Lundmark & Patrik Söderholm, 2019. "The innovation effects of renewable energy policies and their interaction: the case of solar photovoltaics," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 21(2), pages 217-254, April.
    3. Iman Miremadi & Yadollah Saboohi, 2018. "Planning for Investment in Energy Innovation: Developing an Analytical Tool to Explore the Impact of Knowledge Flow," International Journal of Energy Economics and Policy, Econjournals, vol. 8(2), pages 7-19.
    4. He, Zhengxia & Cao, Changshuai & Kuai, Leyi & Zhou, Yanqing & Wang, Jianming, 2022. "Impact of policies on wind power innovation at different income levels: Regional differences in China based on dynamic panel estimation," Technology in Society, Elsevier, vol. 71(C).
    5. Chen, Jinyu & Luo, Qian & Tu, Yan & Ren, Xiaohang & Naderi, Niki, 2023. "Renewable energy transition and metal consumption: Dynamic evolution analysis based on transnational data," Resources Policy, Elsevier, vol. 85(PB).
    6. kos Hamburger & G bor Harangoz, 2018. "Factors Affecting the Evolution of Renewable Electricity Generating Capacities: A Panel Data Analysis of European Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 8(5), pages 161-172.
    7. Lindman, Åsa & Söderholm, Patrik, 2016. "Wind energy and green economy in Europe: Measuring policy-induced innovation using patent data," Applied Energy, Elsevier, vol. 179(C), pages 1351-1359.
    8. Bahman Huseynli, 2023. "Research and Development Expenditures and Renewable Energy: An Empirical Analysis in Türkiye," International Journal of Energy Economics and Policy, Econjournals, vol. 13(6), pages 179-184, November.
    9. Guillaume Bourgeois & Sandrine Mathy & Philippe Menanteau, 2017. "The effect of climate policies on renewable energies : a review of econometric studies [L’effet des politiques climatiques sur les énergies renouvelables : une revue des études économétriques]," Post-Print hal-01585906, HAL.
    10. Palage, Kristoffer & Lundmark, Robert & Söderholm, Patrik, 2019. "The impact of pilot and demonstration plants on innovation: The case of advanced biofuel patenting in the European Union," International Journal of Production Economics, Elsevier, vol. 210(C), pages 42-55.
    11. Cao, Dongqin & Peng, Can & Yang, Guanglei, 2022. "The pressure of political promotion and renewable energy technological innovation: A spatial econometric analysis from China," Technological Forecasting and Social Change, Elsevier, vol. 183(C).
    12. Muhammad Raza & Ali Saleh Alshebami & Amena Sibghatullah, 2020. "Factors Influencing Renewable Energy Technological Innovation in Malaysia," International Journal of Energy Economics and Policy, Econjournals, vol. 10(6), pages 573-579.
    13. Zheng-Xia He & Shi-Chun Xu & Qin-Bin Li & Bin Zhao, 2018. "Factors That Influence Renewable Energy Technological Innovation in China: A Dynamic Panel Approach," Sustainability, MDPI, vol. 10(1), pages 1-30, January.

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    More about this item

    Keywords

    Renewable Energy Patent; Patenting Activity; CO2 Emission; Organization for Economic Co-operation and Development Countries; Feed-in-Tariff; R and D Expenditure;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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