Renewable energy accounts for 45, and the EU‘s energy landscape is changing

Source: International E-commerce News

    According to Renewable Energy Directive III, in the EU region, a binding target of at least 42.5% will be achieved by 2030, while an indicative target of 2.5% will be increased to 45%.

    In the past decade or so, the European Union has made numerous policy arrangements for renewable energy, and its Renewable Energy Directive has undergone multiple revisions.

    In 2009, the European Union passed the Renewable Energy Directive (RED), which aims to achieve a share of renewable energy in the EU‘s final energy consumption of at least 20% by 2020; In 2018, the RED year underwent significant revisions (also known as RED II), with the goal of achieving at least 32% of renewable energy in final energy consumption by 2030;

    In July 2021, the European Commission passed the Fit for 55 package, proposing 12 more proactive measures including energy, industry, transportation, and construction, promising to reduce greenhouse gas emissions in Europe by 55% by the end of 2030 compared to 1990. This is a proposal to revise and update EU legislation and implement new measures aimed at ensuring that EU policies align with the climate goals agreed upon by the Council and the European Parliament;

    In March 2023, the European Parliament, Council, and Committee on Industry, Research and Energy reached a provisional agreement (RED III) through trilateral negotiations, setting a binding target of at least 42.5% by 2030, while increasing the indicative target by 2.5% to 45%. In September of the same year, the latest version of RED III was approved, and for the first time, aviation and maritime transport were included in the scope of the directive. This revision of RED III originated from the EU‘s Fit for 55 program.

    As early as RED II, a series of sustainable development and emission standards have been included, and EU industries including transportation, forestry, heating/cooling, and electricity must comply with these standards in order to qualify for financial support from public institutions. These ambitious and binding goals mean that industries such as transportation will seek innovative ways to utilize renewable energy.

    In addition to providing funding and incentives for clean energy, the EU also has certain financial constraints on the continued use of fossil fuels. If a company does not take appropriate measures to curb carbon emissions, it will ultimately pay a high price for this.