Written by Sasa Butorac and Agnieszka Widuto.
Europe’s key instrument to achieving energy independence and increasing competitiveness lies in the energy transition and, specifically, in boosting the generation capacity of renewable sources of energy. Following the European Green Deal and ‘fit for 55’ initiatives, the EU legislative framework for achieving this is largely in place. Significant progress has been made, in particular since the launch of the REPowerEU initiative in May 2022 in the wake of Russia’s full-scale invasion of Ukraine. Member States have increased the share of renewables in their energy mix, and the EU is consistently progressing towards its target of a 42.5 % share of renewables in final energy consumption by 2030. The share of renewables in sectors such as electricity (47.5 % of final energy consumption in this sector), heating and cooling (26.7 %) and transport (11.2 %) is also increasing, although progress has been fastest in terms of electricity. The main challenges to an accelerated deployment of renewables can be identified as the cost of capital, timely development of the grids, and the complex and lengthy permitting procedures both at European and national level.
Read the complete briefing on ‘Renewable energy in the EU‘ in the Think Tank pages of the European Parliament.
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