EBA and renewable energy associations call for more ambition from the EU to stay world leader in renewables
Several associations expressed joint messages on the proposal for a Regulation on the Governance of the Energy Union.
The Clean Energy Package needs to be ambitious for the EU to comply with the objectives of the Paris Agreement and the Energy Union commitments. The 27% RES target by 2030, as suggested by the European Commission, falls short of ambition as it would translate into a fivefold market contraction for renewables between 2020 and 2030, as compared to the previous decade. For renewable energy sources, keeping up with the pace means a target of at least 35% by 2030.
From an investor perspective, 35% is the bare minimum to keep momentum going in this fast-growing sector. It will ensure Europe reaps the economic benefits resulting from a clean and efficient energy system fit for the twenty-first century, while developing the European industry.
It is key to cement the 2020 targets as the non-negotiable baseline for the 2030 framework, and to provide clear signals for the renewable sector in the form of trajectories that support the EU’s ambition rather than undermine it. The Clean Energy Package must contain strong provisions to ensure the 2030 objectives are collectively met, preferably through national binding targets or at least robust and efficient gap filling provisions.
The Regulation must provide adequate enforcement mechanisms to ensure the targets’ achievement. These mechanisms need to guarantee steady and continuous efforts from Member States up to 2030. They must not encourage late action in renewable energy. To that end, the regulation must at least provide that:
• The 2020 targets are the starting point: delays in meeting them should not be resolved through gap filling in the Governance Regulation but as provided in the 2020 Framework;
• The trajectory for RES deployment from 2020 to 2030 must be linear. Should a “corridor approach” be adopted, its lower bound must ensure the EU 2030 target is collectively met.
For the EU to be world leader in renewables, and remain a leading force on climate action, European and national policies should allow for a thorough penetration of RES in all segments of the energy sector: electricity, heating & cooling and transport.
Finally, the clarity and simplicity of the future Governance framework is crucial to provide investors with clear signals on European ambitions, and foster the engagement of all sectors of the economy in the energy revolution.
The renewable energy industry now urges the Members of the European Parliament and the Council to support this call for higher ambition.
Find the joint letter here.