Green Energy efficiency and renewable energy are set to be one of the 11 investment priorities under a new EUR 346 billion European Regional Development Fund (ERDF) budget for 2014-2020 being discussed in Brussels this week.They constitute two areas that have been neglected during the current 2007-2013 budget period.
The European Commission's ERDF budget proposals, which were presented by the European Commission last Thursday, foresee a total budget of EUR 376 billion (one percent of Europe Gross National Income) for economic, social and territorial cohesion for the period 2014-2020.
The ERDF is a vital part of funding many infrastructure projects and aims to correct imbalances between regions. It supports R&D and innovation in climate change and environment, business support to SMEs, energy and transport infrastructures and sustainable urban development, amongst other things.
Amongst the 11 investment priorities defined, one aims to support the shift towards a low-carbon economy in all sectors, including energy efficiency in public infrastructures, and the housing sector.
From 2014, the so-called 'transition regions' of Europe (in the UK this includes Merseyside and South Yorkshire) and the more developed regions will be required to focus the largest part of their allocation (except for the European Social Fund) on energy efficiency and renewable energy, competitiveness of SMEs, and innovation, with 20% of resources to be focused on energy efficiency and renewables.Source: eaem.co.uk
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