Impact of public R&D as market matures: Evidence from solar PV industry

Hanee Ryu and Hyejae Jung

Energy & Environment, 2021, vol. 32, issue 8, 1543-1558

Abstract: Our study concentrates on the impact of public research and development (R&D) as solar PV market matures. This paper tried to distinguish the concepts of market maturity and technology maturity and to approach them measurably. Considering the concept of cost reduction rate and number of patent change rate, we estimates maturity indicator respectively. Next, we estimate how market and technology maturity interact with public R&D. Finally, we examine whether the R&D effect varies depending on market maturity. This study suggests the implications of the R&D policy of renewable energy technologies at various maturity levels by making the concept of market maturity which is commonly used and measuring the R&D effect according to market maturity.

Keywords: Market maturity; technology maturity; R&D effect; solar PV market; cost reduction (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:sae:engenv:v:32:y:2021:i:8:p:1543-1558

DOI: 10.1177/0958305X20981580

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