EU Renewable Energy Strategy
- 40% cut in greenhouse gas emissions compared to 1990 levels
- at least a 27% share of renewable energy consumption
- at least 27% energy savings compared with the business-as-usual scenario
What do they represent?
In October 2014, EU leaders agreed a new framework for climate and energy, including EU-wide targets and policy objectives for the period between 2020 and 2030. These targets aim to help the EU achieve a more competitive, secure and sustainable energy system, to meet its long-term 2050 greenhouse gas reductions target and to send a signal to the market, encouraging private investment.
What does it mean for the ocean energy industry?
Europe’s 2020 climate and energy targets have been hugely successful at taking the first generation of renewable energy technologies, such as wind and solar, to commercial readiness. Ocean energy technologies are the next generation of renewable energy which will help integrate wind and solar into the energy system and create a new industrial sector for Europe.
To achieve this, an ambitious and robust support framework for renewables, such as ocean energy, is needed for the 2020-2030 period. This will send a clear signal to the market that renewable energy continues to be a long term priority for the EU and its Member States.