How much is energy R and D worth?
The value of energy technology R and D as an insurance investment to reduce the cost of climate change stabilization, oil price shocks, urban air pollution, and energy disruptions is estimated to be $5-8 billion/year in sum total. However, the total that is justified is actually less than this sum because some R and D is applicable to more than one risk. nevertheless, the total DOE investment in energy technology R and D (about $1.3 billion/year in FY97) seems easily justified by its insurance value alone; and, in fact, more might be warranted, particularly in the areas related to climate change and urban air pollution. This conclusion appears robust even if the private sector is assumed to be investing a comparable amount. Not counted is the value to the economy and to US competitiveness of better energy technologies that may result from the R and D; only the insurance value for reducing the cost of these four risks to society was estimated.
- Sponsoring Organization:
- (US)
- DOE Contract Number:
- W-7405-Eng-48
- OSTI ID:
- 16375
- Report Number(s):
- UCRL-JC-127363; CONF-970701-; ON: DE98050994; TRN: US200302%%613
- Resource Relation:
- Conference: 32nd InterSociety Energy Conversion Engineering Conference, Honolulu, HI (US), 07/27/1997--08/01/1997; Other Information: Supercedes report DE98050994; PBD: 06 May 97; PBD: 6 May 1997
- Country of Publication:
- United States
- Language:
- English
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