In the context of the Strategic Energy Technology (SET) Plan, the Commission estimates that an additional investment of €50 billion in energy technology research will be needed over the next 10 years. This means almost tripling the annual investment in the European Union, from €3 to €8 billion. Different sources of funding are considered, from public and private sectors at national and EU level, which should be used in a coordinated way and help to push forward a fast growing industrial sector.This represents a step forward in the implementation of the European Strategic Energy Technology Plan (SET-Plan), the technology pillar of the EU's energy and climate policy