In addition to innovation in renewable and conventional technologies, we consider innovation in electricity storage, which we think of as affecting the elasticity of substitution between renewable and conventional technologies.8 Electricity generation comes from renewable and conventional resources. [...] Innovation in storage increases the elasticity of substitution between conventional and renewable generation, which affects the production level directly in addition to enhancing the flexibility of the electricity market. [...] The large drop in patents at the end of the period is due to the legal delays of patents registered with the USPTO, which implies delays between the priority date and the publication date varying from 18 months to five years (Dernis and Khan, 2004). [...] The share of firms that innovate in renewable and storage technologies is 3.34%, while the share that innovates in conventional and storage is 0.25%.15 Most patenting firms are based in a few countries, and the biggest countries in terms of innovating firms are the US, Japan, Germany, France, and Great Britain. [...] Both innovation efforts and the number of patent applications may change over time in response to both the firms’ and the relevant country’s idiosyncrasies, and the volatile nature of the industries.
- Pages
- 72
- Published in
- Sherbrooke, QC, CA
