Abstract
This article provides a value maximization strategy for end-use R &D planning which meets both supply-side and demand-side R &D objectives. The strategy is compatible with conventional econometric market analysis, power system demand-side management or least-cost planning methods, and operations research approaches common to manufacturing. The strategy permits incorporation of supply and demand uncertainties into the R &D planning process. It also provides a methodology for determining the optimal set of R &D investments These R &D investments will result in products that increase the value of electrical service, promote the efficient operation of electric power systems, and ensure the productivity of manufacturing operations.
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