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Policy Department A: Economic and Scientific Policy ____________________________________________________________________________________________ Venture capital and corporate spending The Cleantech Group reported a strong increase of 64% of venture capital investment in 2008 in Europe and Israël [Cleantech Group 2008]. Half this amount went into thin-film. Concentrated solar received 18% of the investments, the rest went to crystalline and other technologies. In total, the sector accounted for $589 million in venture capital investments. Photovoltaics saw a corporate R&D expenditure of €221 million in 2007, again an increase of more than 20% compared to 2006. However, assessment of corporate R&D expenditure in PV can be inaccurate because a number of non-specialised companies such as Siemens and Shell entered the solar market, making it difficult to measure accurately how much these companies spend on PV-related R&D. The R&D intensity of the solar sector in Europe is estimated to be around 2.2% to 2.5%. Concentrated solar power has a more modest corporate R&D expenditure, amounting to €50 million. These expenditures are mainly based in Spain and Germany, followed by Italy and France. The noticeable German presence is mainly due to its industry being heavily involved in the development of CSP technology for deployment abroad, while research in Spain, Italy and France is more focused on local deployment. R&D indicators are provided for the main industrial players in Table 14 below based on [JRC-IPTS 2009b]. Table 14: R&D investment pattern of the major solar companies Company Country R&D investment (€ million) 2008 Change 2008/2007 R&D intensity 2008 SMA Solar Technology Germany 33.11 +78.6% 4.9% Q-Cells Germany 30.50 +77.3% 2.4% SolarWorld Germany 10.67 +49.9% 1.2% PV Crystalox Solar UK 6.25 +43.7% 2.2% Solon Germany 5.26 +34.5% 0.6% Source: [JRC-IPTS 2009b] R&D intensity in the solar sector ranges from a low 0.6% for Solon to a high 4.9% for SMA Solar Technology. Like for wind, we can see elevated rates of growth in R&D spending (between 34.5% and 78.6%). Needs in R&D funding Regarding photovoltaics and CSP, in its Implementation Plan for the Strategic Research Agenda last year the European Photovoltaics Technology Platform (EuPV-TP) estimated that the total R&D budget required for the period 2009-2013 is €6.6 billion in order to put the sector on track of achieving the ambitious goal set for 2020. 55% of this amount will have to come from the private sector and 45% from public support. The chart below shows that a significant increase of both public and private R&D funding is required: both should be roughly tripled up to respectively €594million (against €201million currently) and €726 million (against €269 million currently). IP/A/ITRE/ST/2009-11 & 12 56 PE 440.278PDF Image | Policy Department Renewable Technologies
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