EU Parliament Approves New Rules to Meet 2030 Renewable Energy Target

The European Parliament has recently signed off on new renewables and energy efficiency regulations, including the approval of a renewable energy target of at least 32 percent for 2030. The renewables target would be binding throughout the European Union (EU).

The European Commission (EC) claimed in its statement that after the new policies are implemented fully, a reduction of 45 percent in greenhouse gas emissions compared with 1990 levels will be achieved by the entire EU by 2030. This would be higher than the previously targeted 40 percent reduction.

Sources familiar with the matter said the new renewables law would improve the design and stability of renewable support schemes, cut down red tape as well as set a clear self-consumption regulatory framework. It would increase the ambition levels of the heating/cooling and transport sectors, aiming to facilitate the sustainable utilization of bioenergy.

WindEurope CEO Giles Dickson stated that concrete measures have been set by the new rules for ensuring member states contribute towards achieving renewable energy targets, besides providing a 5-year visibility on public support for green energy. The legislations will eliminate administrative barriers that hinder the development of corporate renewable power purchase agreements, Dickson added.

The separate law for energy efficiency sets a new energy target for 2030, with efficiency target for the block of at least 32.5 percent and a 2023 upwards revision clause., sources mentioned. It also mandates member states to introduce nationwide rules for allocating the cost of heating, hot water and cooling consumption in multi-purpose or multi-apartment buildings.

Further, every member State would be preparing a national energy and climate plan for the 2021-2030 period and drafts are to be submitted by the year end. With the recent approvals, four of the eight legislations proposed in 2016 Clean Energy for All Europeans package are now cleared. The new laws will be formally approved by the Council of Ministers over the coming weeks and will come into force three days after they are issued in the Official Journal of the Union.


New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

OilEnergyPowerRenewable Energyindustry news

More items from juikate

Shell Bags License To Trade Oil Products In China’s Wholesale Market

Royal Dutch Shell plc (Shell), a renowned European multinational oil & gas company, has reportedly been awarded a trading license by the Chinese government that allows it to independently trade its oil products in China's wholesale market. Reports cite, the license signifies the Chinese government ...

Jui Kate

Posted 1 year agoPress > OilgasBusiness +2

Iran Still Likely To Invest In Refinery Expansion, Says Indian Oil

India's largest oil and gas company Indian Oil Corporation Limited recently said that Iran could still invest in one of its subsidiaries for a refinery expansion project. Sanjiv Singh, chairman of Indian Oil stated that Iran has not ruled out its participation in the development at the Chennai Petr ...

Jui Kate

Posted 1 year agoPress > OilgasOil Refining +2

ContourGlobal sells 49% stake of its Spanish CSP assets for EUR 134M

ContourGlobal is reportedly selling 49 percent stake of company's 250 MW Concentrated Solar Power (CSP) plants in South-West Spain, which they bought from Acciona SA in early 2018. As per the agreement, ContourGlobal will sell 49 percent stake in the Concentrated Solar Power (CSP) Portfolio to Cred ...

Jui Kate

Posted 1 year agoPress > EnergySolar energyPower +1

Allete, Xcel Energy ink new 5-year contract for existing wind farms

Allete Clean Energy, a Minnesota-based independent power producer and supplier, has recently approved a new 5-year power sale agreement between its Viking wind farms in southern Minnesota and Xcel Energy, Inc., whose original 15-year PPAs will expire in December 2018. As per an official press rele ...

Jui Kate

Posted 1 year agoPress > EnergyPowerWind Energy +1

Australian businesses unite to urge government to abort energy policy

Some of the biggest energy & business groups in Australia have reportedly come together in an effort to urge the Australian government to forgo its Big Stick approach in the matter of energy legislation. Apparently, the businesses are warning the government that the divestiture powers it craves wo ...

Jui Kate

Posted 1 year agoPress > EnergyIndustryPower +1
All posts from juikate