Enova and the Climate and Energy Fund

Country / jurisdiction: Norway · Year: 2001 · Status: In force · Level: National · Type: Voluntary

The Climate and Energy Fund is made up of government budget transfers (84% in 2023), a surcharge on energy bills (9%) and returns on fund investments (7%). Enova, a state agency, is responsible for distributing these funds to R&D projects (from pilot to first commercial phase) and to support household spending on clean energy products

Enova offers investment aid to energy efficiency measures, conversion to the use of renewable energy sources and energy recovery in the industry. Enova also offers investment aid to full-scale demonstration projects involving new energy and climate technology under live operating conditions. Enova has a distinct responsibility for an initiative directed towards new energy and climate technology in the industry. Enova SF is a state enterprise owned by the Norwegian government (Ministry of Climate and the Environment). It is an important energy and climate policy instrument, which contributes to lasting marked changes, and supports development and deployment of more energy and climate efficient technologies.

From 2017, Enova’s focus has been shifted more towards climate-related activities and innovation, in line with the new agreement for the period 2017–2020.

This means that there will be a greater emphasis on reducing emissions from the transport sector and other sectors that are not part of the emissions trading system, and on innovative solutions adapted to a low-emission society.

Official source: https://www.enova.no/