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Policy Department A: Economic and Scientific Policy ____________________________________________________________________________________________ To a certain extent the weak point of the structure, lies in the EII structures, as well as the inadequate financial rules for frontier research. 3.4. Funding the SET Plan, from research to deployment The SET Plan despite the large number of structures created and the relatively detailed planning in the technology roadmaps, fails to present a solution to the funding problem. Public funding is, however, the fundamental key to make the SET Plan effective. It is clear that to bring total funding for R&D for the SET Plan to €8 billion yearly, public funding will have to increase. The present total funding on R&D in SET-Plan priority technologies in the EU was estimated to be 3.2 billion € in 2007, thus it is arguable that more than a doubling of R&D research effort will also require at least more than doubling the public expenditures, depending on the capacity and willingness of the private sector to follow suit. The big question is which public budget will be increasing? The EU financed 11% of energy research in 2007 or approximately €360 million. Member States financed 32% or around 1 billion, with very different shares each member state (figures by [Wiesenthal et al. 2009]). If member states do not double their expenditures, then the EU would have to more take a large share of the increase. The question then arises, from which source? These are questions that need answers over the next two years before the next EU budget is agreed. There is also the problem that the SET Plan officially entered into force this year, which adds complexity to the funding of the years up to the new EU budget. Of course, the EIB can play a role, and the mechanisms are outlined in sections 3.4.1 but EIB loans have their limitations in the areas of high risk R&D, although it will play an important role in the funding of infrastructures for new technology deployment. Coming back to funding for the SET Plan, it is highly likely that as a share of the increase in financing the EU will have to contribute proportionally more. The private sector will react to new public funding and will invest more, but it is unlikely that investment will rise to cover the same proportion of funding. Similarly, the private sector will not invest in long term blue sky basic research, thus any increase there has to be public only. If the EU were to finance a much larger share of the public expenditure of the SET Plan, there are various issues to consider. Today, the EU is financing 23% of the total EU public R&D in the SET Plan priority technologies, while total public R&D is 31% of the EU investment. It would not be outlandish to consider that public R&D may increase in share under the €8 billion target to 50% with the EU needing to finance half of public expenditure. The consequence is an increase in the EU’s investment in research of those technologies to maybe €2 billion a year. This assertion may well be challenged, as the SET Plan de facto expects a large private R&D contribution. However, it is difficult to conceive a large drive for R&D in the private sector without a very sizeable shared investment from the public sector. It is also clear that member states may well be reluctant to finance a substantially larger share of the R&D. Unfortunatelly, member states are reluctant to contribute to the EU budget too. From a point of view of EU budgetary margins, there is no unsurmontable impediment to increase EU funding to energy R&D; the EU budget ceiling can easily accommodate such an increase. To put it in perspective, the EU Own Resources ceiling as percentage of gross national income (GNI) is 1.24% and the margin available is on average 0.24% of GNI or €28 billion during the present Financial Perspectives period. IP/A/ITRE/ST/2009-11 & 12 96 PE 440.278PDF Image | Policy Department Renewable Technologies
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