EU TRIPLES NEW ENERGY R&D

Europe to throw $73 billion behind energy research
Pete Harrison (w/James Jukwey), October 5, 2009 (Reuters)

"Europe will…[seek to] triple funding for energy research to 8 billion euros ($11.7 billion) a year in a technology race with Japan and the United States…"

"Solar power should get 16 billion euros over the next decade and up to 30 energy-sipping "Smart Cities" should be built with the backing of around 11 billion euros…[according to Investing in the future…] from the European Commission]...In total, at least 50 billion euros of additional funding is seen over the next 10 years to ensure a wide range of technology emerges to help the EU meet its goal of cutting greenhouse gases by 80 percent by 2050…"

Putting money where it matters. (click to enlarge)

"…[The so-called Strategic Energy Technology Plan (SET Plan)] looks at how much funding is needed, rather than how businesses and the EU's 27 member countries would find the money as they emerge from the biggest downturn since the second world war…But earlier Commission proposals for funding energy projects, such as the 4 billion euros "European Economic Recovery Plan" have made swift progress this year and are now in the later stages of debate by EU ambassadors…

"Wind energy research should get 6 billion euros over the next decade, nuclear research should get 7 billion euros and energy from biomass and other waste 9 billion…There should also be 13 billion euros for innovative "carbon capture and storage" technology to trap carbon dioxide from power stations and bury it…"

Costs are shared by public and private beneficiaries. (click to enlarge)

"The money, from both public and private sources, will be backed with a major push to coordinate research and reverse a tradition of duplication and wasted academic effort among the EU's 27 nations…The strategy is aimed at slashing output of gases blamed for climate change, but it also is to wean the EU off its dependency on costly oil and gas for 80 percent of its energy needs…

"…The report sees 250,000 jobs created over the next decade as wind power shifts its focus to the seas…Over 200,000 skilled jobs could be created in the solar energy sector, and the same number in bioenergy plants to generate energy from burning household and agricultural waste…"