At the inaugural Mission Innovation (MI) Ministerial, an international organization, held in June, ministers from all Mission Innovation partners released their respective governments’ plans to double clean energy research and development (R&D) funding over five years. Ministers also welcomed the European Commission on behalf of the EU as the 21st partner.
“The European Commission is honored to be part of Mission Innovation,” said European Commission Vice President for Energy Union Maroš Šefčovič. “Scaling up clean energy innovation is key to the success of the European Energy Union and to the implementation of the Paris Agreement on Climate Change. It also represents a major global economic and industrial opportunity.”
Ministers met with leaders of the Breakthrough Energy Coalition and other leading energy investors, underscoring the critical link between government innovation and entrepreneurship to bring affordable clean energy technologies to market.
“Our support for Mission Innovation is crucial to funding the basic scientific research and development that will underpin the advanced clean energy solutions needed to combat climate change in the 21st century,” said US Secretary of Energy Ernest Moniz. “These technologies will help drive down adoption costs to grow low-carbon economies and create entirely new markets for the solutions that will reduce heat-trapping emissions.”
In recent years, due to advances in research worldwide, significant progress has been made in driving down the cost of key technologies by 40–90%, notably in land-based wind power, rooftop and utility solar, electric car batteries, and light-emitting diodes.
“Over the last decade, the UAE [United Arab Emirates] has led the growth of clean energy in the region and established solid foundations upon which to build a green economy for future generations,” says UAE Undersecretary of Energy Matar Hamed Al Neyadi.
Collectively, these 21 partners represent well over 80% of global public investment in clean energy R&D, currently totaling approximately $15 billion per year. These efforts represent an unprecedented acceleration of R&D efforts for innovative clean energy technologies.
Under Mission Innovation, each partner independently determines a strategy for clean energy innovation funding based on individual national resources, needs, and circumstances. MI partners also encourage mutually beneficial engagement with other partner countries in international collaborations.
“The clean energy R&D investment by MI members represents a transformative public investment to support clean energy development and provides a clear direction of the areas in which each country has decided to move forward, including areas of high technological risk and uncertainty,” says Mexican Secretary of Energy Pedro Joaquín Coldwell. “Patient and long-term investment from [the] private sector will be key to complement public investment to accelerate these technologies to the market.”
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At the inaugural Mission Innovation (MI) Ministerial, an international organization, held in June, ministers from all Mission Innovation partners released their respective governments’ plans to double clean energy research and development (R&D) funding over five years. Ministers also welcomed the European Commission on behalf of the EU as the 21st partner.
“The European Commission is honored to be part of Mission Innovation,” said European Commission Vice President for Energy Union Maroš Šefčovič. “Scaling up clean energy innovation is key to the success of the European Energy Union and to the implementation of the Paris Agreement on Climate Change. It also represents a major global economic and industrial opportunity.”
Ministers met with leaders of the Breakthrough Energy Coalition and other leading energy investors, underscoring the critical link between government innovation and entrepreneurship to bring affordable clean energy technologies to market.
“Our support for Mission Innovation is crucial to funding the basic scientific research and development that will underpin the advanced clean energy solutions needed to combat climate change in the 21st century,” said US Secretary of Energy Ernest Moniz. “These technologies will help drive down adoption costs to grow low-carbon economies and create entirely new markets for the solutions that will reduce heat-trapping emissions.”
In recent years, due to advances in research worldwide, significant progress has been made in driving down the cost of key technologies by 40–90%, notably in land-based wind power, rooftop and utility solar, electric car batteries, and light-emitting diodes.
“Over the last decade, the UAE [United Arab Emirates] has led the growth of clean energy in the region and established solid foundations upon which to build a green economy for future generations,” says UAE Undersecretary of Energy Matar Hamed Al Neyadi.
Collectively, these 21 partners represent well over 80% of global public investment in clean energy R&D, currently totaling approximately $15 billion per year. These efforts represent an unprecedented acceleration of R&D efforts for innovative clean energy technologies.
Under Mission Innovation, each partner independently determines a strategy for clean energy innovation funding based on individual national resources, needs, and circumstances. MI partners also encourage mutually beneficial engagement with other partner countries in international collaborations.
“The clean energy R&D investment by MI members represents a transformative public investment to support clean energy development and provides a clear direction of the areas in which each country has decided to move forward, including areas of high technological risk and uncertainty,” says Mexican Secretary of Energy Pedro Joaquín Coldwell. “Patient and long-term investment from [the] private sector will be key to complement public investment to accelerate these technologies to the market.”