Europe is taking a leap forward to secure its leadership in innovative renewables with the endorsement of a 45% renewables consumption target and a 5% innovation target for new installed capacity. The targets were agreed this morning by the European Parliament and Member States as part of the revision of the EU Renewable Energy Directive (RED).
Ocean Energy Europe applauds the inclusion of the innovation target in particular, as it gives a strong political signal. This in turn will provide market visibility and speed up the deployment of innovative renewables.
5% of new installed capacity between now and 2030 will come from innovative renewable energy technologies. National governments should now translate this into policy measures as part of their National Energy and Climate Plan updates to match the target’s ambition.