It is expected that by the end of the decade, 40 percent of the European Union’s clean energy technology will be produced.
To advance sustainability goals in the European Union through renewable energy, the European Commission intends to have all of its clean technologies manufactured within the union.
The European Commission has taken steps to produce its own clean technology for net-zero adaption in the EU, with the goal of being the first carbon-neutral continent by 2050, seven months after the United States launched its green industry booster plan.
The European Union has set a target to lessen its dependency on other countries by having at least 40% of its net-zero, clean technology made within the EU by the end of the decade.
For scholars, the most notable difference between the EU’s strategy and the US plan is its focus on a greater net-zero industry, with the goal of generating sustainable investment.
EU Commissioner for the Internal Market Thierry Breton stated, “We’re heading into a new reality. We’re not talking about reacting short term here.”
Into “a new reality”
The European Union’s eight priority clean energy technology initiatives
As the Earth continues to warm, with recent strong global warming temperatures predicted to reach roughly 2.7°C by 2100, the Commission has released its latest biennial report, arguing that present green policy and governance frameworks are not doing enough to assist deliver sustainability targets.
The plan’s innovation component proposes the establishment of test beds for net-zero technologies, the majority of which are:
Renewable energy that can be generated on land and at sea
Power sources and their storage
Geothermal systems and heat pumps
Electrolysis and fuel cells
Advanced carbon capture and storage (CCS) Grid technologies
The initiative aims to increase CO2 capture and storage to the point where yearly CO2 storage capacity reaches 50 million tonnes by 2030. The Commission has proposed the establishment of specialised academies in order to increase skill levels and diversify trade and investment.
Locating governmental funding is essential for the adoption of clean energy technology. Including sustainability and resilience factors into public procurement can hasten the introduction of clean technologies to the market.
For large-scale demonstrator projects to evaluate innovation that may be on the market by 2030, the proposal anticipates the EU to deliver $90 billion by 2026.
Europe was spurred to action by the US plan, but the EU’s green economy was already behind.
By 2030, the global market for clean energy technology is expected to be worth €600 billion annually (IEA)
Yet, there are problems with the study. The R&I authority leading the net-zero missions also control the R&I money, which can be very expensive. Furthermore, there have been several strategic goals and government cooperation, but there have been very few coordinated attempts at implementation.
Spokesperson for the center-right group in the European Parliament Christian Ehler said this should only be the beginning. The future plans are positive developments in the right direction, but they won’t be enough on their own. The administrative burden is growing at an alarming rate, and we need to ease it so business can thrive.
Vice President of the European Commission Frans Timmermans has remarked, “I believe that our ideas make Europe ready for the race to net-zero. But we need to ensure a level playing field and put EU industry in the greatest position to compete; as we’ve seen, there’s some ground to cover in a number of key areas. I believe the plan we have put up today accomplishes that goal.
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