Earlier this week in Brussels, the NER300 announced a new round of funding for the development of innovative low-carbon energy technology. This is the second round of this program with the first having resulting in 23 awards with a total of over €1.2 billion in funding granted from Government which reportedly kicked off a further € 2 billion in private funds in support of these projects.
This program is very similar in principal to the way the DOE works in the US.
Although it is currently the fashion in American politics to forget that much of the infrastructure the country enjoys today (however dated) was conceived and built generations ago via these exact types of programs (think ARPANET, Bonneville, TVA, and Rural Electrification & Telephone) the truth is without them, much of the country would not be what it is today.
Recognizing that massive societal shifts in technology are often best realized when risk is properly understood and allocated between government and private industry – corresponding funding models can then encourage good cooperative behavior.
NER300 & DOE are on the right path.