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 resulting into global warming. Global warming has been blamed for rising sea levels, increased intensity of droughts, increased intensity of rainfalls, floods, and increase in global temperatures. As a result, calls for research and development as well implementation of technologies associated with renewable sources of energy within the European Union have intensified in the recent times. This paper examined the challenges associated with the transfer of renewable sources of energy intellectual property & technology rights in European Union and has suggested ways through which these can be managed. The paper has also examined if renewable sources of energy innovations (research and development) determine the level of investments associated with renewable sources of energy technologies within the European Union member states. The paper has also overviewed the various renewable sources in EU and identified the technology transfer and intellectual property rights associated with them. It was found that the major issue that affects transfer renewable sources is finding who should be responsible for the funding intellectual property rights. Since UNFCCC’s article 4.5, which requires requires developed nations to facilitate, finance and promote transfer of clean energy technologies and intellectual property rights to other nations, has failed, the way forward is dialogue amongst the EU nations. The research also found that level of research and development determines the level of renewable energy technology investments among the European Union member states.
|Journal||Renewable & Sustainable Energy Reviews|
|Publication status||Submitted - 8 Jan 2021|