Photovoltaic industry emphasises EFSI innovation investment

Europe’s solar power industry has warmly welcomed the announcement of the European Commission’s European Fund for Strategic Investments (EFSI).

The scheme, unveiled by Jean-Claude Juncker at the European Parliament in Strasbourg yesterday, sees €315bn invested in new projects, including energy.

In comments carried on PV tech, the chief executive of the European Photovoltaic Industry Association, James Watson, said the European solar power industry could particularly benefit from the EFSI: “To maximise the benefits of investments for the European economy and citizens, the new fund must focus on innovative sectors that will provide sustainable long term jobs, such as the solar sector. This will improve Europe’s energy independency, will reduce Europe’s carbon emissions and enable consumers to control their energy bills. Solar and other empowering consumers’ technologies must be prioritised in this initiative.”

Part of the funding for the ESFI comes from European Investment Bank, as well as the Connecting Europe Facility. A further €2.7bn will be drawn from Horizon 2020, as well as additional funds from the SMEs and other private sector investors.