Energy is the fuel of economic development. Yet, this is lost on the over 2 billion people in the world without access to commercial energy, most in rural areas. Meeting their needs, along with the growing needs of the population already with access, provides very large markets for energy and energy services. Studies have repeatedly shown that technology is the single most important historical driver for productivity growth. The first part of the study examined trends in public and private research, development, and demonstration (RD&D) spending over the past 15 years to determine what has been happening with the resource base for future development. Improvements in energy technologies are attained through active RD&D performed now, in advance of their implementation. Energy RD&D also provides insurance against potential impacts such as climate change, oil price shocks, and disruptions in the energy distribution system. This part of the study sought to answer the questions: What is the current situation with respect to energy RD&D and what are the trends, and Are we spending more or less and do these trends vary between countries or regions. The second part of the study began a process to identify those technologies that might be key in the 21st century and what might be necessary in expenditure, time, and policies to help bring them to market. The emphasis is on what is possible and when from today's vantage, not what will necessarily happen actual developments are unpredictable and it is impossible to foresee the course of actual technology development or economic growth.
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