Government-financed energy R&D and fossil energy consumption: a time-series analysis for the United States
Publication date
2025-04-12
Document type
Forschungsartikel
Author
Organisational unit
Scopus ID
Publisher
Elsevier
Series or journal
Finance Research Letters
ISSN
Periodical volume
80
Article ID
107402
Peer-reviewed
✅
Part of the university bibliography
✅
Language
English
Keyword
Cointegration
Fossil energy consumption
Government-financed energy R&D
Renewable energy R&D
United States
Abstract
We examine the long-run impact of publicly financed energy R&D on fossil energy consumption in the United States, using four measures of government-supported energy R&D: overall government-financed energy R&D, government support for energy efficiency R&D, public expenditures for nuclear energy R&D, and government-financed renewable energy R&D. Applying cointegration techniques to data from 1984 to 2023, we find that government-financed energy efficiency R&D and nuclear energy R&D do not significantly affect fossil energy consumption in the long run. In contrast, overall publicly financed energy R&D and government-financed renewable energy R&D have a measurable negative long-run effect on fossil fuel energy consumption.
Version
Published version
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