May 22, 2022

In light of its hunt for replacements for Russian fossil fuels, the European Union (EU) may set its renewable energy capacity expansion ambitions even more compelling than they are now.

“In the coming weeks, we will work on what I’m calling the Repower EU program, and as part of that, we want to speed up the energy transition. As a result, we may reconsider our objectives in this context “According to Reuters, Frans Timmermans, the EU’s energy shift plan’s leader, told the media this weekend.

Timmermans also stated that this modification will result in increased renewable energy goals for 2030. To refresh your memory, the EU’s most recent goal was to free itself off Russian gas in under a year, after previously aiming for a two-thirds drop in Russian gas purchases by the close of this year.

According to Reuters, the current goal percentage of renewable power in the European Union mix for the year 2030 is 40%. The EU’s net-zero plan calls for a 55 percent decrease in carbon emissions by 2030 compared to 1990 levels.

The EU has released a plan called REPowerEU to describe its energy diversification plans, which includes a requirement for all gas storage providers across Europe to get their facilities full to at least 90% capacity by October each year, as well as increased LNG imports. By 2030, the EU should be gas-independent from Russia, according to the REPowerEU plan.

In a news statement announcing the proposal, Frans Timmermans remarked, “It is time we address our vulnerabilities and fast become more autonomous in our energy choices.”

“Let’s take a breakneck sprint into renewable energy. Renewable energy is a low-cost, clean, and possibly limitless source of energy, and instead of subsidizing the fossil fuel sector elsewhere, it creates jobs in the United States. The war in Ukraine by Putin emphasizes the importance of hastening our clean energy shift.”

 

The 2030 goals

The revised Renewable Energy Directive created a new binding renewable energy objective for the EU for 2030 of at least 32 percent, with a clause enabling a possible higher modification by 2023, building on the 20 percent target for 2020.

Further adjustments to the directive are required to fulfill the higher climate ambitions outlined in the European Green Deal, which was announced in December 2019.

On July 14, 2021, the Commission presented Europe’s new 2030 climate targets, which included a proposal to alter the Renewable Energy Directive. It aims to raise the current objective for renewable power sources in the EU’s overall energy mix to at least 40% by 2030.

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