Are They Optimally Harnessed? Understanding the Contributions of Energy Innovation Investments to Energy Efficiency, Renewables, and Nuclear Energy Production

Résumé fourni par la source

This study examines the effectiveness of public research and development (R&D) investments in facilitating energy efficiency and the production of renewable and nuclear energies. Using panel data sets spanning from 02000 to 2022 for the top 10 energy technology R&D investing economies and employing the novel Bayesian quantile regression methodology, several new insights emerged. The estimated results of both the Bayesian quantile regression with and without Lasso variable selection confirmed the heterogeneous contributions of energy innovation investments to selected green transition metrics. Comparatively, these investments have had a greater impact on nuclear energy production and energy efficiency, while their impact on renewable energy production has been relatively modest. Notably, diminishing marginal returns were observed across all three green transition metrics, underscoring the need for policy consistency and impact monitoring. Furthermore, adequate funding that balances support for energy efficiency and renewable and nuclear energy is essential to achieving the 2050 net-zero emission targets.

Ce résumé expose les affirmations des auteurs. BNTIC ne l’interprète pas comme une validation indépendante des résultats.