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11.4 Identifying Key Tasks for European Research Renewables technologies The growing interest in Renewables market success will become realised only with an increased commitment to further improve market confidence in the continued, strong growth of Renewables by creating supportive and consistent policy frameworks in leading market countries, and by stimulating significant scale in those markets through public sector investments. EU Member States have continued to advocate for a strong R&D effort to develop a new generation of Renewables as well as a balanced commitment toward continued R&D, and toward market support. As an emerging industry, the renewable energy sector needs a supportive political and legal framework to reach its full potential, which includes strong public investment in R&D and better incentives for private sector research spending. General R&D issues for Renewables More Renewables research is required to increase the efficiency of existing technologies, to develop new technologies, processes and products and to drive down significantly the costs for the production of heat, power and fuels from Renewables. An increased public R&D spending should go hand in hand with increased involvement of the industry to ensure the market up-take of the generated results. With solar electric technologies (photovoltaic), for example, industrial applications have long been cost-effective, and limited niches in high solar resource areas are close to economic. In addition to the space exploration and consumer products, it is now very common to observe PV powered signs in road construction sites, water pumping, lighting systems at recreation properties and many other, all planned and funded through market forces. To achieve the mainstream however, PV costs must come down substantially. More R&D funding is needed to achieve the breakthroughs that will lead to large-scale markets. Other renewable technologies have fallen out of the R&D pipeline. Concentrating solar power, ocean energy, and advanced geothermal are all technologies that lost much of their R&D funding some years ago. It is time to assess their potential in the context of the new imperatives that arise from the global efforts to reduce greenhouse gas emissions and perhaps refocus R&D investments to bring these technologies to the market. Such refocusing may occur not necessarily by increasing overall funding levels, but rather either through reallocations or more imaginative ways of leveraging public funding with the private sector. Efficiency and effectiveness are called for in devising strategies to accomplish a wider spectrum of R&D priorities. The novel approaches include both public sector investments. The efforts of the private sector supporting potentially winning technologies can subsequently be encouraged through policy initiatives towards commercialisation. If national objectives for diverse and environmentally sustainable energy use are to be achieved, a clear strategy must be at the centre of every transformation path into a more renewable energy future. The strategy should include a significant acceleration in technical development of technologies. Although the development of new and improved renewable energy technologies aiming at lower 48PDF Image | Economic Perspectives of Renewable Energy Systems
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