Full Title: Side Effects: How Renewable Energy Policies Drive Innovation in Complementary Grid Technologies
Author(s): Kelly Stevens, Amir Rouhollahi
Publisher(s): Information Technology & Innovation Foundation
Publication Date: January 19, 2021
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Description (excerpt):
Previous research has shown that policies targeting environmentally beneficial technologies such as renewable energy can drive innovation in the targeted technologies. However, there has been little research exploring whether such policies have the positive side effect of spurring innovation in complementary technologies. This report aims to fill this gap.
Using data from the Organization for Economic Cooperation and Development (OECD) countries, we find evidence for such an impact. More stringent renewable policies are associated with increased innovation in complementary technologies, as measured by patents. The policies with the greatest impact include public research and development (R&D) spending and renewable energy certificates, such as Renewable Portfolio Standards (RPS) in the United States.