Joint Letter: Renewables displace fossil fuels – the Innovation Fund must recognise this
Renewables displace fossil fuels. And in doing so, they make a critical contribution to decarbonisation. We therefore welcome your efforts to rebalance the Innovation Fund to better include renewable energy.
The ‘clean tech manufacturing’ and ‘mid-sized & highly innovative’ windows are particularly important for renewables. These windows can deliver a wide range and depth of innovative renewable projects. Such projects will form the basis of Europe’s future energy system whilst strengthening jobs, sustainable growth, competitiveness, and the EU’s strategic energy independence.
It is therefore essential that these windows are well-resourced within the 3rd call budget.