EU launches major package for renewable energies: This is how we benefit!

EU launches major package for renewable energies: This is how we benefit!

The European Commission has announced that it will put together a comprehensive European network package that will be launched in the fourth quarter of 2023. This package focuses on the urgently needed expansion of energy storage capacity in the EU to boost investment in renewable electrification. Loud PV Magazine This is a fundamental step towards achieving the goal of a 55 percent reduction in greenhouse gas emissions by 2030. The EU is currently only one percent away from this ambitious goal.

As part of the review of Member States' National Energy and Climate Plans (NECP), a legislative plan has been published to streamline and simplify EU legislation. This will be achieved in particular by updating environmental legislation in order to shorten approval times. The EU's goal is to promote cross-border electricity networks and further integrate the energy markets.

Progress and challenges

12 EU member states have already achieved the target of 42.5 percent renewable energy in the electricity mix, while the EU average is 41 percent. Around 205 gigawatts of renewable generation capacity were installed between 2022 and 2024. According to estimates, European electricity consumers were able to save around 100 billion euros from newly installed photovoltaic and wind turbines in the period from 2021 to 2023. Despite this progress, further expansion of network flexibility is essential.

In order to achieve the planned climate goals, the member states are calling for measures to stabilize the energy markets. The EU Commission has emphasized that investments in the electricity grid infrastructure are necessary to ensure a cost-efficient energy transition. In particular, an estimated investment requirement of 730 billion euros for distribution networks and 477 billion euros for transmission networks is expected by 2040.

Global climate action

In the context of these developments, the global perspective must not be lost sight of. The Mercator Research Institute on Global Commons and Climate Change (MCC) points to humanity's limited carbon budget to limit temperature rise to 1.5 or 2 degrees Celsius compared to the pre-industrial era. Loud horizon The climate protection measures pledged so far are expected to lead to a global temperature increase of 2.7 degrees Celsius if implemented.

The limit of 1.5 degrees Celsius is a key moment of the Paris Climate Agreement in order to avoid exceeding critical tipping points in the climate system. Scientists agree that only a temperature increase below 1.5 degrees Celsius has a high probability of preventing these tipping points from being exceeded.

The situation illustrates how crucial the further expansion and integration of renewable energies, as well as the associated infrastructure, are for achieving climate goals. The coming months will show the extent to which the EU and its Member States implement the necessary measures to enable a sustainable and effective transition.