The European Union (EU) is on the verge of finalizing a new renewable energy target that aims to achieve 42.5% of the bloc’s energy from renewable sources by 2030, as reported by Reuters on May 15. This target is a significant increase from the previous target of 32%, and member states are keen on decarbonizing their economies to combat climate change and bolster their energy security. The law has been agreed upon by the EU and the European Parliament, but still requires formal approval from both entities. The law mandates that member states aim for 45% renewable energy, and it also includes sector-specific targets for transport and industry. Member states must reach at least 29% renewable energy in the transport sector or decrease greenhouse gas intensity by at least 13%. For industry, the law requires member states to increase renewable energy usage by 1.6% annually and mandates that 42% of hydrogen used in industrial processes must be from renewable energy sources by 2030, rising to 60% by 2035.

The EU’s push towards renewable energy is part of its ambitious plan to achieve net-zero greenhouse gas emissions by 2050, a target set to limit global warming to 1.5°C above pre-industrial levels. The new renewable energy target is expected to boost the EU’s green industry, create jobs, and reduce dependence on energy from non-EU countries. In addition to the sector-specific targets for transport and industry, the law also includes provisions for citizen-owned renewable energy projects, such as community wind farms and solar panels on apartment buildings.

Sources:

https://www.reuters.com/sustainability/eu-countries-finalise-425-renewable-energy-target-2023-05-15/

https://www.eea.europa.eu/policy-documents/ec-2020-2050-long-term-strategy