Investing in the Development of Low Carbon Technologies (SET-Plan)
On 9 October 2009, the European Commission published a Communication on "Investing in the Development of Low Carbon Energy Technologies (SET Plan)". The idea is to better organise research efforts across Europe, selecting technologies with the greatest potential, and planning together how money should be invested. The Commission estimates that an additional investment of € 50 billion in energy technology research will be needed over the next 10 years, which means an annual investment of € 8 billion. Different sources of funding are considered, from public and private sectors at national and EU level, to be used in a coordinated way, which will also help to push forward a fast growing industrial sector and to create jobs.
The Communication is accompanied by four working documents.