Research on cost-benefit analysis of additionality of public R&D investment: Japan's photovoltaic power R&D projects

Kazuaki Kohmoto, Jun-ichi Yoshida and Miharu Kishioka

Research Evaluation, 2009, vol. 18, issue 5, 397-404

Abstract: This research, taking Japan's photovoltaic power R&D projects as the subject of analysis, is designed to propose a cost-benefit analysis method in which additionality of public R&D investment is figured out with an econometric approach. The method we applied consists of following steps. First, a relational equation between public/private R&D investment and the price of photovoltaic power system was obtained. Based on the equation, the price of a photovoltaic power system in the absence of public R&D investment was estimated. Then, using a demand function, separately obtained, an additional consumer surplus induced by public R&D investment was calculated. Lastly, cost-benefit analysis was made on the public R&D investment amount and the additional consumer surplus. From our analysis results, we concluded that public R&D investment was yielding massive economic benefits in the long run. Copyright , Beech Tree Publishing.

Date: 2009
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