BRUSSELS, BELGIUM: EPIA supports the position of the European Heads of State on the target for renewables and calls for them to confirm this commitment during their meeting on 23-24 October. This is a step in the right direction and provides the opportunity for Europe to maintain a lead in the renewable energy sector.
Nevertheless to be truly effective, national targets are still needed to deliver the energy transition that Europe requires to meet its CO2 reduction commitments.
“An EU-wide target, without meaningful national targets, would not provide the stability and predictability an investor would need” commented James Watson, EPIA CEO. “To ensure that public and private capital is driven towards renewable energies, the right policy signals need to be given at European and national levels. The proposal currently on the table still falls short on the objective of incentivising investments in renewable energy and creating the low carbon future a vast majority of Europeans want.”
As the International Energy Agency highlights in its recent report on renewables, policy uncertainty is putting heavy pressure on the development of renewables, in particular in Europe. The EU has a leading position in developing renewable energies, but to maintain this position it needs an ambitious, stable and predictable regulatory framework. That will enable a stable investment climate that will in turn support renewables and solar photovoltaics in Europe, generating growth, jobs and a much-needed economic boost for the continent.