Next Article in Journal
Tax Reform for the Energy Transition in Korea’s Power Generation Sector
Previous Article in Journal
Non-Strategic Capacity Withholding from Distributed Energy Storage within Microgrids Providing Energy and Reserve Services
Open AccessArticle

Low-Carbon R&D Can Boost EU Growth and Competitiveness

E3Modelling, 70–72 Panormou Street, PO 11523 Athens, Greece
*
Author to whom correspondence should be addressed.
Energies 2020, 13(19), 5236; https://doi.org/10.3390/en13195236
Received: 8 September 2020 / Revised: 28 September 2020 / Accepted: 5 October 2020 / Published: 8 October 2020
(This article belongs to the Special Issue Energy Systems Analysis and Modelling Towards Decarbonisation)
Research and Innovation (R&I) are a key part of the EU strategy towards stronger growth and the creation of more and better jobs while respecting social and climate objectives. In the last decades, improvements in costs and performance of low-carbon technologies triggered by R&I expenditures and learning-by-doing effects have increased their competitiveness compared to fossil fuel options. So, in the context of ambitious climate policies as described in the EU Green Deal, increased R&I expenditures can increase productivity and boost EU economic growth and competitiveness, especially in countries with large innovation and low-carbon manufacturing base. The analysis captures the different nature of public and private R&I, with the latter having more positive economic implications and higher efficiency as it is closer to industrial activities. Public R&D commonly focuses on immature highly uncertain technologies, which are also needed to achieve the climate neutrality target of the EU. The model-based assessment shows that a policy portfolio using part of carbon revenues for public and private R&D and development of the required skills can effectively alleviate decarbonisation costs, while promoting high value-added products and exports (e.g., low-carbon technologies), creating more high-quality jobs and contributing to climate change mitigation. View Full-Text
Keywords: GEM-E3-FIT; low-carbon R&D; innovation-induced growth; endogenous technology progress GEM-E3-FIT; low-carbon R&D; innovation-induced growth; endogenous technology progress
Show Figures

Figure 1

MDPI and ACS Style

Fragkiadakis, K.; Fragkos, P.; Paroussos, L. Low-Carbon R&D Can Boost EU Growth and Competitiveness. Energies 2020, 13, 5236.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Search more from Scilit
 
Search
Back to TopTop