• Tuesday, July 16, 2024
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EU raises renewable energy target to 42.5% by 2030

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The European Union member states and the European Parliament reached a political agreement last week to raise the targeted share of renewable energy in the EU’s energy consumption to 42.5 percent by 2030, up from the current target of 32 percent.

“The target is binding,” Markus Pieper, a Member of the European Parliament, said on Twitter, adding that the deal also envisages faster approval processes for wind and solar projects.

“A good day for Europe’s energy transition,” Pieper said.

The provisional political agreement—part of the EU’s efforts to ditch Russian energy as soon as possible and become a net-zero bloc by 2050—will now have to be endorsed by both the EU Council and the European Parliament to become law.

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Under the deal terms, the target of 42.5 percent renewable energy in the EU’s overall energy consumption by 2030 will have an additional 2.5 percent indicative top-up that would allow it to reach 45 percent

Each EU member state will contribute to this common target, the EU Council said.

Under current targets, in force since December 2018, the EU-level target for renewable energy in overall energy consumption by 2030 is 32 percent .