The European Commission has a financing plan for research and development of low carbon technologies.
The plan, known as the SET-Plan, calls for the allocation of €51 billion to several low carbon technologies, including bio-energy, solar, and wind. The largest receipient of funds is the solar industry with it due to receive 31.4%. Bio-energy will be given 17.6% and wind will receive 11.8% of the European Union's low carbon funding. Meanwhile, Carbon capture and storage (CCS) technology is due to receive 25.5% while nuclear fission will receive 13.7% of the plan's funds. The SET-Plan is not scheduled to come into effect until 2013.
The Commission's announcement has received varied reactions. Luxembourg Green MEP Claude Turmes said, "the Commission's plan is a mere public relations exercise, not a serious effort to prioritise and support the actions that can make a real contribution to cutting out carbon. It is ludicrous to put high-risk strategies such as CCS and nuclear on the same footing as renewables."
Likewise, Christian Kjaer, CEO of the European Wind Energy Association was disappointed to see coal receive double the amount that wind received. However, he also recognized the €6 billion the wind industry wil receive is a significant increase from previous government financing. Kjaer said the funding will go a long way: "despite the small investments in research it is wind that will deliver the vast bulk of Europe's renewable, clean energy, as it has done up to now."
Read the full story at the European Wind Energy Association: Big energy research increase vital for Europe's future
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
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