Government-financed energy R&D and fossil energy consumption: a time-series analysis for the United States
Year: 2025
Type: article
Abstract: • We examine the impact of government-financed energy R&D on fossil energy consumption. • We apply cointegration techniques to time-series data for the United States. • Government-supported energy efficiency R&D has no long-run effect. • Government-supported nuclear energy R&D has no long-run effect. • Government-financed renewable energy R&D has a negative long-run effect. 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.
Source: Finance research letters
Author: Dierk Herzer
Institution: Helmut Schmidt University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $3,730
OpenAlex ID: W4409386880