Page 11 Long-term financing certainty

Recognises the role of the SET-Plan, the Knowledge Innovation Community (KIC) InnoEnergy and the relevant Joint Technology Initiatives (JTIs) in driving energy innovation; stresses the need to better connect these various frameworks together with, inter alia, the InnovFin initiative, the EFSI and the proposed Pan-European Venture Capital Fund(s)-of-Funds programme (VC FoF) as part of a coordinated, focused investment strategy in clean energy innovation that would help early-stage projects, start-ups and SMEs effectively overcome the ‘valley of death’ and reach the market maturity levels needed for global expansion; considers that effective incentives for investment in energy innovation, by means of national investment funds and pension funds, could play a crucial role in mobilising the necessary equity capital;

Page 19 Citizens-driven energy innovation

The rapporteur fully endorses the view that citizens must play the central role in energy transformation and in driving innovation. With energy systems becoming more dispersed and centred on prosumers, the energy landscape in general is becoming more democratic. This is true not only in production and consumption, but in new services and solutions, as well as in designing and applying energy innovation. The rapporteur believes that EU’s efforts at accelerating clean energy innovation will only succeed if it fully recognises the mindset transition that European will have to make. This is no longer a matter of better awareness and understanding of policies and processes. With IT technologies and digitalisation fostering decentralisation of systems and opening ever new ways of engaging citizens, Europeans of all ages will also gradually become more actively involved in steering energy innovation. As with all social processes, this will be a long one and it must be properly addressed through systemic education and engagement schemes. InnoEnergy Knowledge and Innovation Community at the European Institute of Innovation and Technology has already commenced work in the area of social appropriation of energy, and the rapporteur is strongly convinced that this process will play an increasingly important role in the coming years and thus should be embraced and fully supported.

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