The EU has set ambitious goals to ensure that renewable energy production targets are met. To ensure that the green transition is sped up and that European industries are ready for these changes, the Commission adopted the REPowerEU Plan in May 2022.
The REPowerEU Plan focuses on long-term commitments to promote massive investments in renewable energy production and enhance long-term energy efficiency, as well as short-term measures to encourage energy savings and contingency measures in case of severe supply disruption.
In the REPowerEU Plan the Commission proposes to increase the EU’s 2030 target for percentage of total energy provided by renewables from the current 40% provided under the “Fit for 55” package to 45%. The REPowerEU Plan envisages total EU renewable energy generation capacities at 1,236 GW by 2030, compared to 1,067 GW by 2030 under “Fit for 55”.
In October 2023, the Council of the European Union announced the adoption of the revised Renewable Energy Directive (“RED III”). RED III aims to align with the existing “Fit for 55” package and the REPowerEU plan, setting ambitious targets to increase the renewable energy targets to 42.5% by 2030, up from the previous 32% target.
In addition, RED III focuses on implementing higher binding targets in the transport sector, increasing annual use of renewable energy in industry, further promoting renewable energy in the building sector, with a focus on heating and cooling and simplifying and streamlining the regulatory environment.
The adoption of RED III illustrates a firm and positive step by the EU in the transition towards increased renewable energy adoption at both Member State and Union level.
Cleary Posts
- December 22, 2023: Third time is the charm: Red III - The Latest Revision to the Renewable Energy Directive Sets Ever More Ambitious Climate Goals
- February 22, 2023: The Green Deal Industrial Plan: European Commission’s Further Initiative to Foster Green Transition in Europe