Research on the impact of scientific and technological innovation on the availability of geothermal resources
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Abstract
Geothermal energy refers to the energy that is available from the thermal heat stored in the magma, fluids, and rock strata within the earth’s crust, which has the advantage of being clean and efficient. Various technical difficulties exist in the development and utilization of geothermal resources, while the development of geothermal energy industry is highly dependent on the progress of science and technology. In order to study the role of technology in the process of geothermal resource development and utilization, extracts four evaluation indexes affecting the level of scientific and technological innovation in the field of geothermal resources. Based on the time series data spanning 1999-2017, measures the degree of scientific and technological innovation in the field of geothermal resources by utilizing principal component analysis. Based on this, a VAR model is constructed to examine the causal relationship between scientific and technological innovation and geothermal resource availability. Cointegration test, impulse response and variance decomposition are used to verify the positive and persistent mechanism of scientific and technological innovation on geothermal resource availability and to explore the lagging effect of geothermal resource availability on itself. These findings provide empirical evidence for the advancement of high-quality development and utilization of geothermal resources, and form scientific support for relevant policy recommendations.
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