Managing Technology Transfer Challenges in the Renewable Energy Sector within the European Union

Abstract

The use of fossil fuels to generate energy is often associated with serious negative effects on the environment. The greenhouse gas emissions resulting from burning these fuels destroy the ozone layer and lead to global warming. As a strategic approach to the solution of this problem, calls for research and development, as well as the implementation of technologies associated with renewable energy sources within the European Union (EU), have intensified in recent years. One of the keys to a successful outcome from this intensified effort is to identify the challenges associated with the transfer of both intellectual property and technology rights in the renewable energy sector within the EU. The present paper contributes towards this direction. Firstly, data from the literature were used to identify contemporary trends within the European Union with regards to technology transfer and intellectual property within the sector of renewable energy. Then, a statistical analysis utilising an ordinary least squares (OLS) model was conducted to establish a correlation between renewable energy innovations (research and development) and the level of investment associated with renewable energy technologies. Finally, this correlation, along with the associated challenges, was then critically explored for four of the most popular renewable energy sources (namely solar energy, biomass, wind energy, and marine renewable energy), and conclusions are reported