Could Brexit be the reason behind the 43% spike in green energy patents?
In 2016, an estimated 10,500 patents for renewable energy were filed by companies and corporations worldwide. In 2017? Over 14,800 patents for green energy have been filed so far, a 43% increase.
This includes patents filed in a number of sectors, including solar energy, biofuels, hydropower, wind energy, geothermal, and waste-generated energy. A study by UK law firm EMW also found that the number of patents filed for these types of energy has nearly doubled in the last five years alone.
Though not all of these patents will result in manufactured products, an estimated 50% of inventions filed throughout 12 industries have been patented successfully.
But why the sudden boost in renewable energy patents?
According to the EMW law firm, it might be because of Brexit.
James Geary, principal of EMW, claims Britain’s departure from the European Union (EU) has become a cause for concern regarding the European Unitary Patent System. Some businesses may be filing for patents in the event obtaining a patent becomes more difficult as a result of Brexit.
The slight rise may also be in part due to concerns about the effect that Brexit may have on the proposed European Unitary Patent system. Some businesses may be racing to patent products, to avoid potential difficulties if obtaining patents in EU countries become more difficult than is currently the case,” claimed Geary.
Additionally, the cost of renewable energy has become more affordable, making it a more profitable venture for businesses.
“[…] more companies globally are now increasingly incentivized to invest in research and development. In addition, many companies are also now enthusiastic to highlight their ‘green’ credentials in response to growing public and consumer awareness of environmental concerns” Geary noted.
China took first place as the country who filed the most renewable energy patents. They filed the majority of the patents, with 11,295 applications submitted in 2017. China is currently the largest manufacturer of solar panels in the world.
The United States stole second with 1,534 patents filed.
However, concerns over the United States’ investment in green energy is under fire thanks to the Trump presidency.
Geary notes there could be a drop in the number of patents filed in America as government research and funding is cut under the current administration.
Despite concerns, however, Americans are still working to improve their energy efficiency both in the home and through new patent applications. It’s thought that new, double pane windows can reduce your energy bill by an estimated $501 per year.
Companies are also taking strides to improve renewable energy.
A new offshore wind turbine patent has recently been awarded to Selsam Innovations / U.S. Windlabs by the United States Patent and Trademark Office.
The company will work in conjunction with the California Energy Commission to create floating offshore marine wind turbines. The turbine design is unique in that they use a vertical tube, ballasted bottom, and tower, known as a spar buoy. This creates a more stable buoy promoting energy efficiency.
Selsam Innovations / U.S. Windlabs have already begun to implement Patent 10,024,307 in Europe.
Whether the spike in green energy patents was a result from Brexit or the more affordable production costs, the world is certainly on its way to a more sustainable future.
