Deploying low-carbon technologies remains a challenge in the EU. Here’s how they are funded and what needs fixing
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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