Memo: Energy Technology for cheaper renewables, greater efficiency and global leadership of the European industry

Technology will play a central role in achieving the targets of the new Energy Policy for Europe. For this reason the Commission will annually invest approximately €1 billion between 2007 and 2013 in energy technology research and innovation. Technology should lower the costs of renewable energy, increase the efficient use of energy and ensure that European industry is at the global forefront. The European Union aims to be a front-runner in changing the way energy is produced, distributed and used: to this end, the Commission will prepare the first European Strategic Energy Technology Plan in 2007as part of its Energy Policy for Europe.