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Social Rate of Return to R&D on Various Energy Technologies: Where Should We Invest More? A Study of G7 Countries

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  • Roula Inglesi-Lotz

    () (Department of Economics, Democritus University of Thrace, Greece)

Abstract

The severity of investment in Research and Development (R&D) in the energy sector is undisputable especially considering the benefits of new technologies to sustainability, security and environmental protection. However, the nature and potential of various energy technologies that are capable to improve the energy and environmental conditions globally is a challenging task for governments and policy makers that have to make decisions on the allocation of funds in R&D. To do so, the optimal resource allocation to R&D should be determined by estimating the social rate of return for R&D investments. This paper aims to estimate the social rate of return of R&D on various energy applications and technologies such as energy efficiency, fossil fuels, renewable energy sources, and nuclear for the G7 countries. The results show that primarily R&D investment on Energy Efficiency technologies and Nuclear are the ones that yield high social benefits for all G7 countries while exactly the opposite holds for Fossil fuels.

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  • Roula Inglesi-Lotz, 2015. "Social Rate of Return to R&D on Various Energy Technologies: Where Should We Invest More? A Study of G7 Countries," Working Papers 201549, University of Pretoria, Department of Economics.
  • Handle: RePEc:pre:wpaper:201549
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    1. Wong, Siang Leng & Chang, Youngho & Chia, Wai-Mun, 2013. "Energy consumption, energy R&D and real GDP in OECD countries with and without oil reserves," Energy Economics, Elsevier, vol. 40(C), pages 51-60.
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    5. Zvi Griliches, 1998. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," NBER Chapters,in: R&D and Productivity: The Econometric Evidence, pages 17-45 National Bureau of Economic Research, Inc.
    6. Garrone, Paola & Grilli, Luca, 2010. "Is there a relationship between public expenditures in energy R&D and carbon emissions per GDP? An empirical investigation," Energy Policy, Elsevier, vol. 38(10), pages 5600-5613, October.
    7. Sterlacchini, Alessandro, 2012. "Energy R&D in private and state-owned utilities: An analysis of the major world electric companies," Energy Policy, Elsevier, vol. 41(C), pages 494-506.
    8. Corderi, David & Cynthia Lin, C.-Y., 2011. "Measuring the social rate of return to R&D in coal, petroleum and nuclear manufacturing: A study of the OECD countries," Energy Policy, Elsevier, vol. 39(5), pages 2780-2785, May.
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    1. repec:eee:enepol:v:118:y:2018:i:c:p:390-403 is not listed on IDEAS
    2. repec:eco:journ2:2018-02-2 is not listed on IDEAS
    3. repec:eee:energy:v:145:y:2018:i:c:p:388-399 is not listed on IDEAS

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