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Targeted funding paves the way for a climate-neutral future

27. February 2024

Austria is providing crucial impetus for green tech innovations and is striving to assume a leading role in climate protection thanks to its comprehensive funding system. The annual 2024 programme of the Climate and Energy Fund, featuring funding of € 657 million, aims to promote energy efficiency, the expansion of renewable energies and the modernisation of energy and mobility systems.

Its 21 initiatives are designed to fund climate-friendly solutions, sustainable jobs, and national value creation. The aws TWIN Transition supports industry in its transition to sustainable production processes for the benefit of companies of all sizes.

Research funding also plays a key role: the research premium of 14% and attractive direct funding offered by the Research Promotion Agency FFG make Austria one of the frontrunners in Europe. Furthermore, the Climate and Energy Fund develops programmes which particularly target energy and e-mobility, complemented by the promotion of environmental protection measures by Kommunalkredit Public Consulting.

Target oriented public funding programmes drive successful eco-innovations “Made in Austria”. Examples of subsidised projects include the hydrogen project of Bosch in Linz, the intelligent charging system for electric vehicles developed by VOLTERIO and CO₂ reduced steel production on the part of voestalpine. EET also enables apartments to be provided with renewable energy based on its balcony photovoltaic system SolMate.

The Renewable Energy Expansion Act (EAG) provides the foundation for Austria to create the underlying conditions for a 100% renewable energy supply by the year 2030. Sustainable energy solutions are being developed in a test market for about five million consumers within the context of the Green Energy Lab, part of the Austrian innovation initiative “Flagship Region Energy". More than € 250 million should be invested by 2025 in innovative projects implemented within the Green Energy Lab as a means of sustainably shaping Austria’s energy future.

Read more about green tech/clean tech in Austria