Economy

Moedas: €2 billion to Be Spent by EU on Energy Innovation

Bratislava, December 1 (TASR) – As much as €2 billion will be spent by the EU on energy innovation, European Commissioner for Research, Science and Innovation Carlos Moedas announced at an international conference entitled ‘SET Plan-Central European Energy Conference’ (CEEC) in Bratislava on Thursday.

Moedas was outlining the European Strategic Energy Technology Plan (SET-Plan) drawn up by the Commission.

“We’ve agreed that the €2 billion will be directed into four key areas, including decarbonisation of buildings, better integration of renewable energy sources into the energy [mix], electric mobility [electric cars and public transport] and the storing of [electric] energy,” said Moedas.

The commissioner noted that while the sector of fossil fuels is being subsidised by €100 billion a year in Europe, research and innovation in energy receives only a minute fraction of this amount.

“If we want to change this situation, we have to move away from this trend,” added Moedas.

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