Abstract
Planning for the research and development (R&D) of renewable energy resources (RERs) has not received enough attention. This paper aims to study the planning for the R&D of RERs in order to avoid bottlenecks and ensure sustainable development in developing marine economies. We have established a triple difference model (DDD) model and a wise pig game model between the theoretical government and enterprise. The data on RERs come from the World Bank and International Energy Agency databases. We have three contributions on the basis of distinguishing between mature and immature marine RERs technologies. First, it emphasizes the importance of developing R&D planning for marine RERs immature technology in the future. Second, the DDD model is used to empirically establish whether RERs planning has a significant positive impact on RERs’ output, which explains the importance of existing RERs planning. Third, the wise pig game model is used to analyze the welfare benefits to the government brought by the R&D planning of marine RERs which proves the importance of future RERs R&D planning.
Highlights
As long as the world can develop 0.1% of total marine wave energy, it will be able to achieve 5 times the current world energy demand (Kumar et al, 2015)
The Chinese government have canceled financial subsidies for the installation of wind turbines in 2021. This requires the governments of developing marine countries to make breakthroughs for RERs planning, and the opportunity for this breakthrough planning lies in the research and development (R&D) plans for marine RERs
The government acts as a “big pig” and the firms act as “piggy.” In the smart pig game, the government has two strategies, that is, planning and not planning
Summary
As long as the world can develop 0.1% of total marine wave energy, it will be able to achieve 5 times the current world energy demand (Kumar et al, 2015). According to data from the 2014 to 2017 China Ocean Statistical Yearbook of total marine renewable energy power generation (billion kilowatt hours) of 48 coastal countries, we are able to establish RERs distribution in developing marine economies as shown Figure 1. Hypothesis 1: In developing marine countries, there is more room to plan for marine renewable energy in both the types and geographical areas,which include waves, tides, ocean currents, salinity, thermal gradients, marine biomass, offshore wind energy and offshore solar energy. Monitoring Marine RERs In the monitoring of marine RERs, technical experts need to develop multi-sensor floating system energy parameters for monitoring the marine environment, and establish a dedicated floating sensor device that can sample wind, wave and ocean current energy (Garcia et al, 2018) They need to study how to use sound emission to monitor the health of marine renewable energy equipment (Walsh et al, 2017).
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