The Climate & Energy Fund, was set up by the Austrian government in 2007 with the aim of developing new, innovative methods of climate protection and introduce a sustainable energy policy. They support ideas, concepts and projects in the areas of research and development, mobility and market penetration. In this context, the Climate Fund seeks above all to create a balanced portfolio in which innovative technologies within the whole energy spectrum are considered.
At present, the Climate and Energy Fund mainly supports projects in the areas of renewable energy sources, networks & storage, energy efficiency and hydrogen / fuel cells. In particular, technologies such as photovoltaics, wind energy, geothermal energy, hydropower, heat pumps, bioenergy and, with hydrogen becoming even more relevant in the future than ever before.
By promoting innovative projects in Austria, the Climate and Energy Fund is not solely focussed on environmental protection.
Austria already has many leading innovative solutions, such as flexible materials for PV systems, hydrogen production from PV & wind, compression of H₂ and CO₂ in natural gas deposits, etc. Austria is seeing renewable energy as an opportunity to develop and expand its role in certain areas of technology and become a world market leader.
In 2018, the Climate Fund will promote three flagship areas, each with a budget of 20-40 million euros, show casing how efficient energy generation, consumption, system management and storage can be achieved in a system optimised for all market participants with a temporary regional one supply, through up to 100% renewable energy.