Wind Stocks Recovering but Innovation Growth Slows

I was inspired to use our AI platform to look at wind innovation after a major development in that industry. Seven European countries have vowed recently to increase their wind power. Finland, Sweden, Estonia, Latvia, Lithuania, Poland and Denmark stated that they would produce 20 gigawatts of wind power by 2030 (see link 1 below). That’s a nearly 700% increase in wind power over today’s level.

I wondered what was happening in the wind industry. How is the level of innovation? Are today’s wind companies financially strong? To be blunt, if other countries decide to join this group in rapidly increasing their wind power capacity - can the industry fulfill that need?

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Being a data geek, I created a dashboard to find out. My dashboard shows that while the value of wind companies has been increasing, the rate of innovation is slowing. Still, Denmark is the leader in wind innovation, as measured by US patent filings.

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I found that the stock values of publicly traded wind companies have been slowly recovering from their 2010 levels. However, the average stock price of non-wind companies has increased much faster over the same period.

In particular, wind company stocks are increasing in value slowly but steadily. They don’t seem to be linked to the general economic cycle - and they also didn’t increase significantly since the Russian invasion of Ukraine in February 2022.

On the innovation side, innovation grew rapidly and significantly since 2007.The rate of growth slowed in 2014. Innovation was measured by filings of US patent applications. Because of the lag from filing to publication of 18 months, I ended the graph in 2020. Note that I used a moving average for the patent numbers.

Denmark was #1 in wind innovation, but China is increasing their wind patent filings rapidly in the US. As I discussed previously, Chinese companies have been increasing their US patent filings overall - just one more way to fight geopolitical rivalry (see link 2 below).

I’d love to know which trends you are most interested in. How can we help you get the information that you need for successful cooperative commercialization? Reach out and let us know!

References:

1. https://www.euronews.com/2022/08/31/finland-sweden-estonia-latvia-lithuania-poland-and-denmark-pledge-wind-power-increase
2. https://blog.kissplatform.com/data_dashboard_drive 

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