
Technological innovation and diffusion take too long under business-as-usual practices. The findings confirm the mismatch between the urgency of climate challenges as set out by the Intergovernmental Panel on Climate Change (IPCC), and the time taken historically for technology systems to evolve and provide a return on investment. Sticking to what we know - and business-as-usual practices - will not bring these much-needed technologies to markets fast enough.
Analysis shows that inventions in the energy sector have generally taken two to three decades to reach the mass market. This time lag is mirrored by the time it takes for any patented technology to become widely used in subsequent inventions. Data on the top 30 most-cited patents from each of the six sectors examined here indicate that it takes between 19 and 30 years with an average of around 24 years. The process of registering a patent can take up to three years. The diffusion time for clean technologies globally will need to be halved by 2025 to have a realistic chance of meeting climate goals.
The report by Chatham House revealed policy-makers managing the transition to a global low carbon economy will struggle when making the critical choices unless they have a clear understanding of the range of technological options available from different sectors within specific time horizons. And they will also require an appreciation of how their technological interactions will affect industrial structures.
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