Improving Decision Making for Public R&D Investment in Energy: Utilizing Expert Elicitation in Parametric Models

Effective decision making to allocate public funds for energy technology research, development, and demonstration (RD (b) using a detailed energy-economic model to estimate evaluation metrics relevant to an energy RD and (c) using a novel sampling and optimization strategy to calculate optimal RD (2) uncertainty around the estimates of RD (3) a 10-fold expansion from 2012 levels in the annual RD (4) the greatest returns to public RD and (5) the current allocation of energy R&D funds is very different from optimal portfolios. Taken together, these results demonstrate the utility of applying new methods to improve the cost-effectiveness and environmental performance in a deliberative approach to energy R&D portfolio decision making.

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