The power industry continues to be a hotbed of patent innovation. Activity is driven by increasing global demand for power, the global shift towards renewable energy sources, increased preference for large-scale installations, increased renewable energy auctions and beneficial government policies, and growing importance of technologies such as offshore wind turbines, onshore wind turbines, and mono crystalline, poly crystalline, and thin-film technologies. In the last three years alone, there have been over 695,000 patents filed and granted in the power industry, according to GlobalData’s report on Innovation in power: hybrid power plants. Buy the report here.
Smarter leaders trust GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilizing and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
45+ innovations will shape the power industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the power industry using innovation intensity models built on over 83,000 patents, there are 45+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, variable speed gas turbines and HVDC transmission are the disruptive technologies that are in the early stages of application and should be tracked closely. Perovskite photoactive layering, multi-port power converters, and power distribution control system are some of the accelerating innovation areas where adoption has been steadily increasing. Among maturing innovation areas are wind turbine gearbox and offshore wind turbine pre-assembly, which are now well established in the industry.
Innovation S-curve for the power industry
Hybrid power plants is a key innovation area in power
A hybrid power plant generates electricity by combining two or more types of power generation sources. Solar photovoltaic (PV) and wind turbines, combined with a diesel generator as a backup, are the most common power generation sources for a hybrid power plant. Utilizing renewable energy generation technologies minimizes the need for imported fossil fuels, allowing for clean energy generation and the optimization of power supply options.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 385+ companies, spanning technology vendors, established power companies, and up-and-coming start-ups engaged in the development and application of hybrid power plants.
Key players in hybrid power plants – a disruptive innovation in the power industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
General Electric (GE) is one of the leading patent filers in hybrid power plants. An industrial conglomerate, GE provides a range of industrial, infrastructure, and financial products and services. The company offers a wide range of products and services, from aircraft engines and systems, healthcare systems and pharmaceutical diagnostics, power generation, and oil and gas production equipment to medical imaging, financing, and industrial products. In June 2022, GE and Inogen were selected by Sertavul to build one of the first Hybrid Wind + Solar projects in Turkey. The plant is composed of a 32MW wind farm commissioned in 2020 that will be integrated with a 30MW solar plant. Some other key patent filers are Mitsubishi Heavy Industries (MHI), Emerson Electric, IVAR and Mitsubishi.
In terms of application diversity, GENTEX leads the pack, while Skanska and Boeing stood in the second and third positions, respectively. By means of geographic reach, Toyota Motor held the top position, followed by SMA Solar Technology and Doosan.
To further understand the key themes and technologies disrupting the power industry, access GlobalData’s latest thematic research report on Power.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
