Net-Zero Industry Act for Europe

March 17, 2023

European Commission proposes Net-Zero Industry Act to boost clean energy manufacturing and support the EU’s transition to climate neutrality.

The European Commission has proposed the Net-Zero Industry Act as part of the Green Deal Industrial Plan. The Act aims to bolster clean energy technology manufacturing in the European Union and ensure that the Union is ready for the clean-energy transition.

The Act will enhance the competitiveness and resilience of net-zero technology manufacturing in the EU, making the energy system more sustainable and secure. The Act will also enable the establishment of net-zero projects in Europe, attracting investments and supporting the EU’s efforts towards energy independence.

The EU’s overall strategic net-zero technologies manufacturing capacity will reach 40% of the Union’s deployment needs by 2030, accelerating the progress towards the EU’s 2030 climate and energy targets and the transition to climate neutrality.

President of the European Commission, Ursula von der Leyen, said: “We need a regulatory environment that allows us to scale up the clean energy transition quickly.   The Net-Zero Industry Act will do just that. It will create the best conditions for those sectors that are crucial for us to reach net-zero by 2050: technologies like wind turbines, heat pumps, solar panels, renewable hydrogen as well as CO2 storage. Demand is growing in Europe and globally, and we are acting now to make sure we can meet more of this demand with European supply.”

The proposed legislation covers technologies that will make a significant contribution to decarbonisation. These include solar photovoltaic and solar thermal, onshore wind and offshore renewable energy, batteries and storage, heat pumps and geothermal energy, electrolysers and fuel cells, biogas/biomethane, carbon capture, utilisation and storage, and grid technologies, sustainable alternative fuels technologies, advanced technologies to produce energy from nuclear processes with minimal waste from the fuel cycle, small modular reactors, and related best-in-class fuels.

The Act will improve conditions for investment in net-zero technologies, accelerate CO2 capture, facilitate market access, enhance skills, and foster innovation. The Net-Zero Europe Platform will assist the Commission and Member States coordinate action and exchanging information, including around Net-Zero Industrial Partnerships.

The proposed Regulation will be discussed and agreed upon by the European Parliament and the Council of the European Union before its adoption and entry into force.

 

Tags: EU, Net-Zero, Industry, Business

Categories : World Focus

Tags :