The European Commission (EC) has unveiled a package of measures designed to keep the European Union competitive as the clean energy transition is changing the global energy markets.
The ‘Clean Energy for All Europeans’ legislative proposals cover energy efficiency, renewable energy, the design of the electricity market, security of electricity supply and governance rules for the Energy Union. The package includes a revision of the Renewable Energy Directive, and sets an EU-wide target of at least 27% of all energy consumed to come from renewable sources.
It also includes actions to accelerate clean energy innovation and to renovate Europe’s buildings. The package provides measures to encourage public and private investment, promote EU industrial competitiveness and mitigate the societal impact of the clean energy transition, according to EC.
Maroš Šefčovič, Vice-President for Energy Union, said: “Today’s package will boost the clean energy transition by modernizing our economy. Having led the global climate action in recent years, Europe is now showing example by creating the conditions for sustainable jobs, growth and investment. Today’s proposals touch upon all clean energy related sectors: research and innovation, skills, buildings, industry, transport, digital, finance to name but a few. These measures will equip all European citizens and businesses with the means to make the most of the clean energy transition.”
Commenting on the clean energy package, Rémi Gruet, CEO of Ocean Energy Europe, said: “These proposals give investors some visibility on support mechanisms, and simplifies procedures for demonstration projects. This is welcome for 2nd generation renewables like ocean energy, particularly as the weak headline target of 27% renewables won’t prompt much deployment.”
EC said that by mobilizing up to €177 billion of public and private investment per year from 2021, this package can generate up to 1% increase in GDP over the next decade and create 900,000 new jobs.