Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

European Commission analysing higher 45% renewable energy target for 2030

Economy Apr 20, 2022 06:58AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: An aerial view shows power-generating windmill turbines in a wind farm in Morchies, France, November 8, 2020. Picture taken with a drone REUTERS/Pascal Rossignol/File Photo

By Kate Abnett

BRUSSELS (Reuters) -The European Commission is assessing whether the European Union could achieve a higher target of a 45% share of renewable energy by 2030, instead of its proposed 40%, to accelerate its shift from Russian fossil fuels following the invasion of Ukraine.

"We are working on it full speed to take account, first of all the proposal of going from 40% to 45%, but also in the context of higher energy prices," Mechthild Woersdoerfer, deputy director-general of the Commission's energy department, told a meeting of EU lawmakers on Wednesday.

Russia is the EU's top gas supplier, and the 40% renewable energy goal for 2030 was proposed by the Commission last year.

The EU got 22% of its gross final energy consumption from renewables like wind, solar and biomass in 2020. The share varies widely between EU countries, ranging from more than 50% in Sweden to below 10% in Luxembourg.

The new target will depend on EU countries and the European Parliament, which are negotiating it as part of a major package of climate change laws to cut EU emissions faster.

A 45% renewable goal already has support from the EU assembly's lead negotiator and renewable industry groups such as SolarPower Europe - although industry has urged Brussels to do more to unblock years-long permitting delays.

Markus Pieper, Parliament's lead lawmaker, said the new analysis was needed urgently so it could inform the ongoing negotiations, and urged the Commission not to wait until after the summer.

"Otherwise we'll be starting again from the beginning," he said.

Brussels estimates tripling the EU wind and solar capacity by 2030, adding 480GW of wind and 420GW of solar energy, could save 170 bcm of gas demand a year.

The Commission will publish a plan in May to quit Russian fossil fuels by 2027. Woersdoerfer said this would include a legal proposal to make it easier for renewable energy projects to get permits.

European Commission analysing higher 45% renewable energy target for 2030
 

Related Articles

Cuba wins China debt relief, new funds
Cuba wins China debt relief, new funds By Reuters - Nov 27, 2022 3

By Marc Frank HAVANA (Reuters) - China has agreed to restructure Cuban debt and provide new trade and investment credits to the beleaguered Caribbean Island nation after a meeting...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email