The future of our world is running out of time. According to the 2023 United Nations Climate Change Conference, the world community confronts a crucial deadline as climate change picks up speed: emissions must be reduced by 43% by 2030 in order to maintain global temperature below 1.5°C over pre-industrial levels.
Success depends on developments in renewable energy technology, and since 2019, the number of patent applications for innovations like wind, solar, and biofuels has increased dramatically. According to the International Renewable Energy Agency (IRENA), this invention is essential to completing the decarbonization of our energy systems by 2050.
The increase in patents for renewable energy over the last five years is examined by Techopedia today, emphasizing how these technological advancements could contribute to a carbon-free energy future by 2050.
We examine the major technologies driving this expansion and talk about how crucial they are to achieving the long-term objectives required to combat climate change.
Technology for Renewable Energy: Creating the Foundation for 2050
Innovations in renewable energy technologies are essential for completely decarbonizing the energy system by 2050, even though urgent measures are required to reach the 2030 climate targets.
From 2019 to 2023, the number of patents registered for technologies such as wind, solar photovoltaic, and biofuels increased significantly (from around 924,000 patents to approximately 1.3 million patents), according to IRENA.
Number of Patents Filed for Renewable Energy
As the globe strives to meet the more comprehensive decarbonization targets set for 2050, the rise in patents indicates advancements in the efficiency and scalability of renewable technologies.
Between 2019 and 2023, hydropower in particular advanced significantly (+64% increase in patents filed for hydropower technology), closely followed by geothermal energy (+55%).
One of the most scalable solutions, solar photovoltaic technology, received a 37% increase in patents over this time, while wind energy saw a +35% increase.
The Renewable Energy Situation
The renewable energy industry advanced significantly in 2023, adding 473 GW of new capacity globally. As the leading source of renewable energy, solar energy was the primary driver of this expansion.
It’s crucial to remember that we have yet to meet the 2030 targets. The globe is far from achieving the 2030 aim of tripling the capacity of renewable energy, according to IRENA. To reach the necessary 11 terawatts (TW) by 2030, 7.2 more TW of renewable energy must be added.
Reaching the long-term objective of complete decarbonization by 2050 would need more than simply increasing capacity, even though catching up to these short-term targets is essential. As seen by the increase in patents, IRENA claims that advancements in renewable technology are crucial to creating the cutting-edge solutions required to sustain this shift over the ensuing three decades.
Policymakers must prioritize fostering continuous innovation in addition to quick implementation.
The Bottom Line
Two crucial deadlines—2050 and 2030—are at the center of the race against time to stop climate catastrophe.
With just seven years remaining to meet the 2030 targets, can innovation keep up with the spike in renewable energy patents to prevent a global catastrophe and pave the way for complete decarbonization by 2050?
