Hi folks, let´s change our angle/perspective for a moment and have a look what´s currently going on at the European political level.
In October 2014 the
European Council adopted the 2030 Energy and Climate Policy Framework setting
three new headline targets:
- 40% reduction of GHG emissions relative to 1990
- 27% contribution to the final energy consumption from renewable energy
- 27% improvement of energy efficiency with respect to business-as-usual by 2030
In addition to the targets, three funds were established or enhanced: the first,
an increase of the New Entrants Reserve NER-300 fund for renewables to NER-400 with
the addition of funding for CCS (Carbon Capture and Storage) projects; the
second, funded by 2% of the allowances for needs in low-income Member States (GDP
less than 60% of the EU average) and the third, funded by 10% of the allowances
for needs of Member States whose GDP is less than 90% of the EU average.
The 40% reduction of
GHG is to come from the ETS (European Emissions Trading System) and the non-ETS
sectors. Flexibility is allowed in the ETS sector, e.g. for inclusion of
transport, and also in trading shares between Member States and even swapping
parts of targets between ETS and non-ETS sectors.
The second target is
to be reached by contributions from all Member States. In order to reach the aim
of 27% contribution from renewables to the final energy consumption, the Member
States can formulate their own policies, but in full compliance with the State
Aid Guidelines and the EU target model of a fully liberalized and connected
internal energy market.
However there remain
uncertainties within this new package. Especially, the fact that the target
regarding the increase of energy efficiency is just indicative leads to
investment uncertainty as the indicative sectoral targets set by the EC will
not be translated into nationally binding targets. Yet energy conservation,
including in the housing sector, has a high potential for emission reduction
and economic savings.
In summary, the 2030
Package represents an evolutionary extension of the general direction set by
the 20-20-20 Package, with a main focus on GHG emissions reduction.
To read all details
of the 2030 Package download the EC Staff Working Document under the following
link:
