|The Libertas Energy Initiative - European Energy Innovation Fund|
New Energy Paradigm
So how do we create a new energy paradigm to promote energy alternatives? We need to create a new energy alternatives competition, and in this competition, engage the entrepreneurs of our time. Governments should levy big oil and gas access to consumers, thereby redirecting a portion of the tremendous wealth that we transfer to oil and gas concerns.
European Energy Innovation Fund
The Libertas Institute proposes the establishment of a European Energy Innovation Fund which will award licenses and matching funding to a limited number of new carbon neutral entrants to the energy market with the best proposals for carbon-neutral production of electricity, transport fuels and heating judged on criteria including, but not limited to, technological innovation, cost to consumers and fastest and most efficient rollout.
Funding Through CO2 Allowance Auctions
The European Energy Innovation Fund could be endowed with a portion of the proceeds of the European member state auctions of CO2 emissions allowances. In the period between 2005 and 2007, some 6.5 billion tonnes worth of allowances were allocated by national governments. At a projected mean price of €30 per tonne between 2008 and 2012, the member states could theoretically raise around €200 billion from these auctions, of which just 10% could provide a fund of €20 billion for European Energy Innovation.
Trading Period 2005-2007 indicative data on CO2 allowances from the Commission based on National Allocation Plans (EC 2005a)
The Libertas Energy Policy is a new means of securing Europe's energy and security.
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