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A post-2020 EU energy technology policy: Revisiting the Strategic Energy Technology Plan

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  • Sophia Ruester
  • Sebastian Schwenen
  • Matthias Finger

Abstract

With the European Strategic Energy Technology Plan (SET Plan) expiring in 2020, the EU needs to revisit its energy technology policy for the post-2020 horizon and to establish a policy framework that fosters the achievement of ambitious EU commitments for decarbonization by 2050. We discuss options for a post-2020 EU energy technology policy, taking account of uncertain technology developments and uncertain carbon prices. We propose a revised SET Plan that enables policy makers to be pro-active in pushing innovation in promising technologies, no matter what policy context will be realized in the future. In particular, we find that a revised SET Plan is needed to support EU market actors who face market failures with respect to financing innovation within a highly competitive global market for energy technologies. An extension of the current SET Plan and corresponding technology push policies is insufficient, as this does not allow policymakers to provide adequate support, especially in a policy context with low or zero carbon prices.

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  • Sophia Ruester & Sebastian Schwenen & Matthias Finger, 2013. "A post-2020 EU energy technology policy: Revisiting the Strategic Energy Technology Plan," RSCAS Working Papers 2013/39, European University Institute.
    • Handle: RePEc:rsc:rsceui:2013/39
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    3. Conti, C. & Mancusi, M.L. & Sanna-Randaccio, F. & Sestini, R. & Verdolini, E., 2018. "Transition towards a green economy in Europe: Innovation and knowledge integration in the renewable energy sector," Research Policy, Elsevier, vol. 47(10), pages 1996-2009.
    4. Massimiliano Mazzanti & Ugo Rizzo, 2014. "Moving'diversely'towards'the'green'economy.'CO2'abating'techno organisational'trajectories'and'environmental'policy'in'EU'sectors," SEEDS Working Papers 0914, SEEDS, Sustainability Environmental Economics and Dynamics Studies, revised May 2014.
    5. Kaivo-oja, Jari & Vehmas, Jarmo & Luukkanen, Jyrki, 2016. "Trend analysis of energy and climate policy environment: Comparative electricity production and consumption benchmark analyses of China, Euro area, European Union, and United States," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 464-474.
    6. Newbery, David M., 2016. "Towards a green energy economy? The EU Energy Union’s transition to a low-carbon zero subsidy electricity system – Lessons from the UK’s Electricity Market Reform," Applied Energy, Elsevier, vol. 179(C), pages 1321-1330.
    7. Vega, F. & Baena-Moreno, F.M. & Gallego Fernández, Luz M. & Portillo, E. & Navarrete, B. & Zhang, Zhien, 2020. "Current status of CO2 chemical absorption research applied to CCS: Towards full deployment at industrial scale," Applied Energy, Elsevier, vol. 260(C).
    8. Mattia Manni & Valentina Coccia & Diletta Paoletti & Fabio Raspadori & Timo Ritonummi & Franco Cotana, 2020. "Shaping Multi-Level Energy and Climate Policy within the SET Plan Framework," Sustainability, MDPI, vol. 12(22), pages 1-16, November.
    9. Chodkowska-Miszczuk Justyna & Kulla Marián & Novotný Ladislav, 2017. "The role of energy policy in agricultural biogas energy production in Visegrad countries," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 35(35), pages 19-34, March.
    10. Su, Yujie & Zhang, Peidong & Su, Yuqing, 2015. "An overview of biofuels policies and industrialization in the major biofuel producing countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 50(C), pages 991-1003.
    11. Justyna Chodkowska-Miszczuk & Jadwiga Biegańska & Stefania Środa-Murawska & Elżbieta Grzelak-Kostulska & Krzysztof Rogatka, 2016. "European Union funds in the development of renewable energy sources in Poland in the context of the cohesion policy," Energy & Environment, , vol. 27(6-7), pages 713-725, November.
    12. Yuzran Bustamar & Ian Lange & Elizabeth Van Wie Davis, 2017. "Characteristic of Successful Energy Policy from Politics, Economics, Social and Technological Perspective - a qualitative analysis," Working Papers 2017-10, Colorado School of Mines, Division of Economics and Business.

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    Keywords

    European energy policy 2050; Energy technology policy; SET Plan;
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