Europe's 2030 renewable energy power generation target increased to 42.5%

According to media reports, the European Parliament recently approved the recently updated Renewable Energy Directive, which will increase Europe’s share of renewable energy power generation to 42.5% by 2030 and encourages EU member states to work towards a higher target of 45% .

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The updated legislation passed the European Parliament with an overwhelming majority, with 470 votes in favour, 120 against and 40 abstentions. The next step will be for the EU Council to formally approve the legislation, turning it into law.

In March this year, the European Parliament and the European Council tentatively agreed to increase the EU’s binding share of renewable energy generation from 32% to more than 42.5% by 2030.

One of the key provisions of the revised directive is to simplify the procedure for granting permits for new renewable energy projects. This includes photovoltaic modules, wind turbines and retrofitting of existing power generation facilities. The legislation stipulates that EU member states should not take more than 12 months to approve the development and installation of renewable energy projects in designated “renewable energy development areas”. The project approval process outside these areas should not take longer than 24 months.

Members of the European Parliament also voted to set indicative targets for innovative renewable energy technologies to ensure that more than 5% of installed renewable energy is innovative technologies. In addition, a binding framework for cross-border energy projects was established.

To prevent unsustainable practices, the directive introduces stricter standards for the use of biomass energy. This includes guidelines to ensure that biomass harvesting methods do not have a negative impact on soil quality and biodiversity, safeguarding the EU’s commitment to sustainability.

Markus Pieper, chief member of the European Parliament, said: “Our focus includes wind power, photovoltaics, hydropower, geothermal energy and tidal energy. Biomass such as wood will still be classified as renewable energy. Under the principle of ‘positive silence’ , investment in these projects will be deemed approved without administrative feedback. We now urgently need to design the EU electricity market and move immediately to hydrogen energy to achieve a greener transition.”

The transport sector is the focus of the European Parliament’s update of this directive, which aims to reduce greenhouse gas emissions by 14.5% by 2030. This will be achieved by increasing the use of advanced biofuels and setting higher quotas for renewable fuels of non-biological origin, such as hydrogen.

The approval of this legislation marks an important step towards the EU achieving its ambitious climate targets, as outlined in the “Fit for 55” package. The plan aligns existing climate and energy legislation with the EU’s goal of reducing greenhouse gas emissions by more than 55% by 2030.

Furthermore, the legislation aims to reduce Europe’s dependence on imported fossil fuels, especially given recent geopolitics following the Russia-Ukraine conflict.

In March this year, the European Parliament passed the revised Building Energy Performance Directive, requiring all new buildings in EU member states to install rooftop photovoltaic systems by 2028, and all renovated and retrofitted residential buildings by 2032. Photovoltaic system.

Europe and Asia will face higher energy prices in the coming years if decarbonization funding is delayed, according to a research report released by Legal and Genera Investment Management.

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