WhAt is commercial technology
Answers
Commercial Technology means “a technology in general use in the commercial marketplace in the United States at the time the Term Sheet is issued by DOE. A technology is in general use if it has been installed in and is being used in three or more commercial projects in the United States in the same general application as in the proposed project, and has been in operation in each such commercial project for a period of at least five years. The five-year period shall be measured, for each project, starting on the in service date of the project or facility employing that particular technology. For purposes of this section, commercial projects include projects that have been the recipients of a loan guarantee from DOE under this part.”
Commercial technology basically refers to any technology that has been previously or presently employed or utilized in at least three or more number of commercial projects conducted in any commercial market in the United States(US).
Explanation:
Commercial technology essentially refers to any technological mechanism or equipment that has been commercially used within various markets in US with minimum durational sufficiency.To qualify as a commercial technology,it has to be in active use in at least three or more number of commercial projects in any US commercial market with a duration of at least 5 years involvement in each of those projects.Hence,any commercial technological tool has a specialized importance in the commercial business operation or the production process of the entire economy.It can be ideally conceived as a factor or input of production or a productive mechanism that can assist or accelerate any commercial production process by improving the productive efficiency and resource productivity.Hence,it certainly has a wider commercial or economic significance.