New Study Finds Geothermal Energy the Most Efficient Renewable Energy Alternative and Improving the Fastest
NEW YORK--(BUSINESS WIRE)--As the Obama Administration pushed the energy bill through the House, government organizations and corporations are assessing renewable energy alternatives. Which are the most efficient and improving the fastest? According to a new study from NYU Stern, geothermal and wind energy are more efficient, and are yielding greater returns on the R&D invested in them, than most other renewable energy alternatives.
NYU Stern Professor Melissa Schilling, an expert in strategic management and technology and innovation management, finds that the cost of generating electricity with geothermal or wind energy is a fraction of the cost of solar energy. More important, the performance of both is improving much more per dollar of R&D invested in them than solar technologies. This is the first study to explore the trajectory of performance improvement of renewable energy alternatives.
She examined data on government R&D investment and technological improvement and found:
The full paper was recently published in Energy Policy and is available at: http://w4.stern.nyu.edu/news/docs/JEPO_Technology_S_Curves.pdf.
To speak with Professor Melissa Schilling about the study, please contact her directly at 212-365-0118 and email@example.com; or contact Jenny Owen in NYU Stern’s Office of Public Affairs, at 212-998-0561 and firstname.lastname@example.org.