Renewables & energy storage are an essential tool to reach EU objectives

9 Feb 2024
9 Feb 2024

The Coalition welcomes the European Commission’s ambition to reach a 90% net GHG emissions reduction compared to 1990 levels by 2040.

The Commission rightfully states that the electricity sector should come close to full decarbonisation in the second half of the 2030s, with increased flexibility including energy storage. The development of renewable energies and flexibility solutions is also highlighted for its role in ensuring energy security.

Investing in renewables is also a source of savings. For more than a decade, generation costs of local renewable electricity have consistently been lower than those generated by fossil fuels whose prices are volatile and set by global markets. Moving away from fossil fuels should lead to a significant decrease in energy prices in the EU, but further support and a clear vision for renewable energy with energy storage are needed to get there.

In particular, the Commission underlines that the ongoing update of the National Energy and Climate Plans (NECPs) is a key element in monitoring the progress towards the 2030 climate and energy targets. Unfortunately, the Coalition’s recent overview of the national plans showed that more targeted actions are required across Europe to tackle obstacles to the development of energy storage and build comprehensive strategies.

The Coalition commends recognising the development of renewables & energy storage as an essential tool to reach the EU objectives for decarbonisation and energy security. To this end, we encourage the European Commission and Member States to accelerate the pace of their efforts on energy storage deployment to ensure the timely achievement of our climate goals.

Press release by the European Commission:

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