EU Raises Renewable Energy Target For 2030

On March 30, the European Union reached a political agreement on Thursday on an ambitious target to expand the use of renewable energy by 2030, a key step in its plans to tackle climate change and abandon Russian fossil fuels, Reuters reported.

The agreement calls for an 11.7 percent reduction in final energy consumption across the EU by 2030, which MPs say will help combat climate change and reduce Europe's use of Russian fossil fuels.

EU countries and the European Parliament agreed to increase the share of renewable energy in the EU's total final energy consumption from the current 32% to 42.5% by 2030, Member of the European Parliament Markus Piper tweeted.

The agreement still needs to be formally approved by the European Parliament and EU member states.

Previously, in July 2021, the EU proposed a new package of bills for "Fit for 55" (a commitment to reduce greenhouse gas emissions by at least 55% by the end of 2030 compared to the 1990 target), of which the bill to increase the share of renewable energy is an important component. The Russian-Ukrainian conflict crisis has created major energy supply problems. In order to accelerate the move away from fossil energy dependence on Russia by 2030, and to ensure that the economy recovers from the New Crown epidemic, accelerating the pace of renewable energy substitution remains the main way forward for the EU.
Renewable energy is key to Europe's goal of climate neutrality and will allow us to secure our long-term energy sovereignty," said Kadri Simson, the EU Commissioner responsible for energy. With this agreement, we give investors certainty and affirm the EU's role as a global leader in renewable energy deployment and a frontrunner in the clean energy transition."

The information shows that 22% of the EU's energy will come from renewable sources in 2021, but there are significant differences between countries. Sweden leads the 27 EU member states with a 63% share of renewable energy, while in countries such as the Netherlands, Ireland and Luxembourg, renewable energy accounts for less than 13% of total energy use.

To meet the new targets, Europe will need to invest massively in wind and solar farms, expand the production of renewable gas and strengthen Europe's electricity grid to integrate more clean resources. The European Commission has said that an additional €113 billion of investment in renewable energy and hydrogen infrastructure will be needed by 2030 if the EU is to completely move away from its dependence on Russian fossil fuels.