Selection of an energy r and d portfolio for the European Community. Final report

The objectives of the research program to find cost-effective, alternative energy sources to oil are presented. These include the use of coal liquefaction, coal gas, solar, wind and wave power, biomass, nuclear power, and hydroelectricity. The criteria used to evaluate technological parameters, the methods of generating data, the data base used, and the costs and benefits of achieving a competitive technology are discussed. Six test cases were evaluated with the objectives of maximizing the net present value of oil saved and of minimizing the R and D expenditure by developing a specified number of coal, nuclear, renewable energy, and conservation technologies. The appendices describe the data base, the probability assessment and the value of oil substitution (e.g. in residential heating).