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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

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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Suggested Citation

  • Roula Inglesi-Lotz, 2016. "Social Rate of Return to R&D on Various Energy Technologies: Where should We Invest More? A Study of G7 Countries," ERSA Working Paper Series 618, Economic Research Southern Africa.
    • Handle: RePEc:rza:ersawp:618
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    13. Cheng, Xuanmei & Teng, Fangfei & Lucey, Brian M. & Du, Anna Min & Li, Chengnan, 2025. "Experience and cautious decision-making: Executive green background, environmental investment, and informal institutions," International Review of Financial Analysis, Elsevier, vol. 103(C).
    14. Ndlovu, Vanessa & Inglesi-Lotz, Roula, 2020. "The causal relationship between energy and economic growth through research and development (R&D): The case of BRICS and lessons for South Africa," Energy, Elsevier, vol. 199(C).
    15. Hailemariam, Abebe & Ivanovski, Kris & Dzhumashev, Ratbek, 2022. "Does R&D investment in renewable energy technologies reduce greenhouse gas emissions?," Applied Energy, Elsevier, vol. 327(C).
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    17. Yan Zhao & Hui Sun & Xuechao Xia & Dianyuan Ma, 2023. "Can R&D Intensity Reduce Carbon Emissions Intensity? Evidence from China," Sustainability, MDPI, vol. 15(2), pages 1-24, January.
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    21. Alvarelhão, Ana & Resende, Joana & Carneiro, Anabela, 2024. "Employment and wage dynamics in the electricity sector: Evidence from Portugal 2002–2020," Energy Economics, Elsevier, vol. 130(C).

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