Research recently published in the European Economic Review shows that improved electrical storage technology spurs innovation in both renewables and fossil fuels electricity production.
The paper, "From fossil fuels to renewables: The role of electricity storage," also offers evidence that better storage technology boosts the efficiency of the entire electricity sector. However, it calls into question the assumption that improved storage alone can lead to reduced carbon emissions by boosting renewable energy innovation.
The study, by Itziar Lazkano of the University of Wisconsin-Milwaukee, Linda Nøstbakken of the Norwegian School of Economics, and Martino Pelli of the Université de Sherbrooke, looked at more than 50 years of patent data from 70 countries to reach their conclusion.
"We looked at companies that had been granted patents in electricity generation technologies and determined the probability that they would apply for future patents," Lazkano said. "We found that having a patent in storage technology made companies more likely to apply for another patent, either in renewable electricity generation technology or in efficiency-improving technology in fossil fuels."
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