European Union Boosting Its Clean Energy

Abstract:

 

The EU unveiled its "clean energy" plans that will boost the use of renewables, cut waste and reduce subsidies for coal power in a bid to meet its commitments to the Paris climate deal. The European Commission also plans to raise binding energy efficiency targets by 30% by 2030.

Under the Paris climate deal struck last year, the EU plans to cut greenhouse gas emissions by 40% by 2030 and make renewable energy account for 27% of energy use. In 2030, the EU aims to have half of the bloc's electricity generation come from renewables like wind and solar power. By 2050, it hopes electricity will be carbon-free.

This measure also aims to promote more jobs in a sector that already employs more than one million people. 320,000 worked in the wind energy sector in 2014, five times more than 2005.

The EU is calling for reducing so-called capacity mechanisms, which are seen as government subsidies used to help power companies avoid electricity blackouts. Capacity mechanisms will not be used as a backdoor subsidy of high-polluting fossil fuels. This means the EU has set a limit of 550 grams of carbon dioxide per kilowatt-hour for new plants while giving time for existing capacity mechanisms to adapt to the new rules.

The EU is also proposing a binding 30% energy efficiency target for 2030, up from the current target of at least 27%. This calls for equipping buildings with new energy saving technology.