The European Commission says that an additional investment of €50 billion in energy technology research will be needed over the next 10 years to develop by 2020 the necessary technologies to address climate change, secure EU energy supply and ensure the competitiveness of the EU economy.

The Commission, together with industry and the research community, has drawn up technology 'roadmaps' which identify key low carbon technologies with strong potential at EU level in six areas: wind, solar, electricity grids, bio-energy, carbon capture and storage (CCS) and sustainable nuclear fission. Six ten-year plans will be drawn up – one for every area.

The communication calls for an increase of research investment in these areas from €3 to €8 billion annually. It proposes a shift to more public financing for research, as well as for more research on EU level. It also includes some general hints on possible future sources of financing, such as:

• RTD and innovation programmes at national and EU level;
• debt based financing;
• venture capital funds;
• infrastructure funds;
• and market-based instruments.