- Publication date
- 25 November 2011
- Fuel Cells and Hydrogen 2 Joint Undertaking
Financial and technology outlook on the European sector ambition 2014-2020
Sustainable, secure and competitive energy supply and transport services are at the heart of the EU2020 strategy towards a low carbon and inclusive economy, geared towards a reduction of 80% of CO2 emissions by 2050. This objective has been endorsed by the European Institutions and Member States. It is widely recognised that a technological shift and the deployment of new clean technologies are critical for a successful transition to such a new sustainable economy. Furthermore, in addition to bringing a healthier environment and securing energy supply, innovation will provide huge opportunities for the European economy. However, this paradigm shift will not be purely driven by the market. A strong and determined commitment of public institutions and the private sector together are necessary to support the European political ambition. The period 2014-2020 will be critical to ensure that the necessary investments are realized to support the EU2020 vision. In terms of hydrogen and fuel cell technologies, significant investments are required for (a) transportation for scaling up the car fleet and building up of refuelling infrastructure needs, (b) hydrogen production technologies to integrate renewable intermittent power sources to the electrical grid (wind and solar), (c) stationary fuel cell applications, with large demonstration projects in several European cities and (d) identified early markets (material handling vehicles, back-up power systems) to allow for volume developments and decrease of system-costs.
This Report summarizes the sector’s financial ambition to reach Europe’s objectives in 2020.