@techreport{af6738c0ad7a407e940702a469c4ef0a,
title = "The Valley of Death for New Energy Technologies",
abstract = "More than 90% of the world's primary energy currently is supplied by fossil fuels, while more than 8% comes from nuclear power and hydroelectricity. Thus, despite the recent publicity for energy sources such as wind, solar, geothermal or biofuels, they provide only a tiny fraction of the world's energy, and even then mainly as a result of subsidies. On the positive side, large-scale energy production from non-hydroelectric renewable sources has at least become technologically feasible. One of the commonly cited reasons why new energy technologies have had difficulty gaining commercial viability is the so-called “valley of death{"}. According to Markham et al. (2010), the phrase “valley of death{"} was first used in 1995 to refer to the challenges of transferring agricultural technologies to Third-World countries. It was later applied to describe a paucity of funding for the commercialization of new technologies relative to the funds available for more basic R&D.",
author = "Peter Hartley and Medlock, {Kenneth B.}",
year = "2014",
language = "English",
series = "Economics Discussion Papers",
publisher = "UWA Business School",
number = "14",
address = "Australia",
type = "WorkingPaper",
institution = "UWA Business School",
}