$150 billion clean energy competitiveness research program launched

Climate change (Source: Flickr, CC, By: Nicola Jones)

Alexander Richter 3 Jun 2015

Several scientists and economists including are welcoming governments to join a new  $150 billion research program has its fossil fuels in its sights, aiming to make renewables cheaper than ever before.

According to Bloomberg, “the 10-year plan, known as the Global Apollo Programme to Combat Climate Change, will fund research into renewables, power storage and smart-grid technologies to make them cheaper than fossil fuels. It aims to create an international task force of scientists, entrepreneurs and policymakers.

This is certainly a very positive and ambitious project that has already caught the attention from countries like “India, China, Japan, Korea, Mexico, the U.S. and the United Arab Emirates” said Bloomberg in the article.

“The project plans to make public its members by November, ahead of the United Nations climate change talks in Paris the following month.”

As usual, projects as large as these also require significant amounts of funds, that’s why “Participants in Apollo would be required to spend an average of 0.02 percent of gross domestic product from 2016 to 2025, largely in their own jurisdiction, to help fund the technology development.” says Bloomberg.

To read the full article, please follow the link below.

Source: By Louise Downing, Bloomberg via Renewable Energy World