Potential benefits from a successful solar thermal program

Solar energy systems were investigated which complement nuclear and coal technologies as a means of reducing the U.S. dependence on imported petroleum. Solar Thermal Energy Systems (STES) represents an important category of solar energy technologies. STES can be utilized in a broad range of applications servicing a variety of economic sectors, and they can be deployed in both near-term and long-term markets. The net present value of the energy cost savings attributable to electric utility and IPH applications of STES were estimated for a variety of future energy cost scenarios and levels of R&D success. This analysis indicated that the expected net benefits of developing an STES option are significantly greater than the expected costs of completing the required R&D. In addition, transportable fuels and chemical feedstocks represent a substantial future potential market for STES. Due to the basic nature of this R&D activity, however, it is currently impossible to estimate the value of STES in these markets. Despite this fact, private investment in STES R&D is not anticipated due to the high level of uncertainty characterizing the expected payoffs.