Benefit-to-cost ratio at 3% 3.24 15.07 4.76 Source: Authors’ calculations. A complete summary of findings from evaluations of economic, environmental, energy security, and knowledge benefits is included in Table ES-3. In addition to these quantitative measures, interviews with industry, academic, and public-sector scientists and business leaders revealed that FSA, PVMaT, and TFP were critical to PV technology development. Most experts interviewed for this analysis concluded that without these programs not only would the state of photovoltaics be significantly poorer, but many U.S. companies, which employ thousands of people, would not exist.
Retrospective Benefit-Cost Evaluation of DOE Investment in Photovoltaic Energy Systems ES-10 Table ES-3. Summary Cost-Benefit Analysis Results, 1975–2008 Quantified Benefit Minimum Attribution to DOE Unit of Measure Economic Benefits Net economic benefits $18,737.80 $18,737.80 Million, 2008$ Public rate of return 17% Net present value at 7% [Base year = 1975] $1,458.90 Million, 2008$ Net present value at 3% [Base year = 1975] $5,724.70 Million, 2008$ Benefit-to-cost ratio at 7% 1.83 Benefit-to-cost ratio at 3% 3.24 Environmental Health Benefits Monetized via COBRA $237.23 $39.80 Million, 2008$ Avoided mortality a 32.65 5.48 Deaths Avoided infant mortality a 0.07 0.01 Deaths Avoided chronic bronchitis 21.98 3.69 Cases Avoided nonfatal heart attacks 51.03 8.57 Attacks Avoided resp. hospital admissions. 7.63 1.28 Admissions Avoided CDV hospital admissions 15.88 2.67 Admissions Avoided acute bronchitis 54.87 9.20 Cases Avoided upper respiratory symptoms 490.69 82.29 Episodes Avoided lower respiratory symptoms 650.84 109.15 Episodes Avoided asthma ER visits 29.52 4.99 Visits Avoided MRAD 27,036.52 4,535.47 Incidences Avoided work loss days 685.87 123.00 Days Emissions Benefits Avoided carbon dioxide emissions (CO 2 ) 6,815,103 1,062,473 Tons Avoided methane emissions (CH 4 ) 132 21 Tons Avoided nitrous oxide emissions (N 2 O) 583 90 Tons Avoided particulate matter emissions (PM) 1,232 207 Tons Avoided sulfur dioxide emissions (SO 2 ) 2,634 463 Tons Avoided ammonia emissions (NH 3 ) 16 3 Tons Avoided volatile organic compounds emissions (VOCs) 1,090 181 Tons Energy Security Benefits Equivalent avoided petroleum consumption 4,790,478 827,189 Barrels of oil equivalent Knowledge Benefits DOE-attributed patent families in photovoltaics 274 Patent families DOE publications in photovoltaics 900 Publications Percentage of leading U.S. PV company patents linked to DOE 30% a Researchers have linked both short-term and long-term exposures to ambient levels of air pollution to increased risk of premature mortality. COBRA uses mortality risk estimates from an epidemiological study of the American Cancer Society cohort conducted by Pope et al. (2002). COBRA includes different mortality risk estimates for both adults and infants. Because of the high monetary value associated with prolonging life, mortality risk reduction is consistently the largest health endpoint valued in the study.
1-1 1. INTRODUCTION This study is a retrospective analysis of net benefits accruing from the U.S. Department of Energy’s (DOE) investment in photovoltaic (PV) technology development. The study employed a technology cluster approach. That is, benefits measured for a subset of technologies in a meaningful cluster, or
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- Spring '18
- Professor Obura Oluoch
- Photovoltaics, Solar cell