EU steps up energy technology race with U.S., Asia - by Pete Harrison
Europe has launched a campaign to triple funding for energy research to 8 billion euros ($11.7 billion) a year in a technology race with China, Japan and the United States, but said industry would have to pay the bulk. "We don't have much choice if we are serious with tackling climate change and remaining competitive," European research commissioner Janez Potocnik told reporters on Wednesday. "In January 2009, U.S. President Obama announced investment in renewable energy and China presented a recovery plan focused on clean technologies," he added. "It is good news... however, it represents quite a challenge for the European position."
Solar power should get 16 billion euros over the next decade and up to 30 energy-cutting "Smart Cities" should be built with the backing of around 11 billion euros, said the European Union's executive, the European Commission.
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