Deploying low-carbon technologies remains a challenge in the EU. Here’s how they are funded and what needs fixing
Photo credits: LIBER Europe / Flickr
The European Commission has outlined the lessons learnt from emissions reduction demonstrator projects that have been funded through the EU’s €40 billion Innovation Fund (IF) in a new annual report.
The money for the IF comes from sales of EU’s Emissions Trading System allowances. It supports projects with up to 60% of costs - and sometimes even up to 100% - with the estimated budget of €40 billion up to 2030, dependent on the carbon price.
The IF is currently funding 104 projects with €6.4 billion in five areas: energy-intensive industries, hydrogen, carbon capture and storage, renewable energy, and energy storage.
These aren’t like Horizon Europe’s large scale collaborative projects. Of the 104 projects, 42 are projects…
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