How Much Is Energy R&D Worth?

摘要

The value of energy R&D is estimated conservatively to be at least $12 billion/year. However, only about half of this total may be warranted because some R&D is applicable to more than one risk. Nevertheless, the total Department of Energy investment in energy technology R&D (about $1.5 billion in fiscal year 1999) seems easily justified by its insurance value alone. In fact, a larger investment might be justified, particularly in the areas related to climate change, oil price shock and urban air pollution.