The potential economic benefits of energy conservation research

Gerald D. Pine and Mitchell Olszewski

Energy, 1985, vol. 10, issue 7, 843-849

Abstract: We have examined the value to society, in terms of potential economic benefit, of successful completion of energy conservation research. The results of the analysis indicate that energy conservation research can be judged on the same basis as energy supply technologies and show very favorably. Based on life-cycle analysis using a 3% real discount rate, we found that conservation research in buildings, transportation, and industrial sectors could result in a net savings, between 1991 and 2020, of $1.6 trillion. If a ten-fold return in research dollars invested were required, the nation could justify spending more than $25 billion per year between now and 1990 to achieve those savings, although the needed investment is almost certainly less than this amount. The essential message is that conservation research promises large returns and is an investment that the nation cannot afford not to make.

Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:10:y:1985:i:7:p:843-849

DOI: 10.1016/0360-5442(85)90117-3

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