Research and innovation in energy technologies are essential to unlock the various technological pathways that will lead to a cleaner planet for all, as per the EU 2050 strategy. Investment should target not only the deployment of established renewable energy technologies but also the development and demonstration of innovative solutions.
Energy technologies face long development timelines to traverse the technology readiness scale (e.g. from laboratory to market) and this journey is capital intensive due to the necessary high-end technical equipment and the need for large-scale demonstration of the technologies. The technical risks involved in addition to the institutional barriers of the energy sector can discourage private investors from engaging.