IEA Questions Impact of a Non-binding Renewable Energy Target for Europe

  Enquire / contact me

Calling for a clear and stable framework

IEA Questions Impact of a Non-binding Renewable Energy Target for Europe
IEA Questions Impact of a Non-binding Renewable Energy Target for Europe

The International Energy Agency has raised the alarm over the non-binding nature of a 27% renewable energy target for 2030 while also calling for a clear and stable framework. According to the IEA's Medium-Term Renewable Energy Market Report, the absence of a binding target raises questions about how effective the overall target can be as member states would be able to define their commitment to renewables voluntarily. The report adds that the framework overseeing these commitments lacks detail.

Justin Wilkes, deputy chief executive officer of the European Wind Energy Association, said: "The IEA report hits the nail on the head when it comes to ambitious national targets for 2030. Not only is a 27% target too low but it doesn't oblige member states to follow through. Europe's Heads of State need to agree in October on a binding 30% renewables target if real progress is going to be made to improve Europe's energy security, competitiveness and climate objectives."

The report also recognised that binding national targets and National Renewable Energy Action Plans for 2020 have been key drivers in cost reduction and the mass deployment of renewables, particularly onshore wind. However, it highlights that challenges remain for EU member states to meet their commitments.

The IEA expects installed wind capacity to reach 162.9GW by 2018 based on data for European members of the Organisation for Cooperation and Development. The new figure shows a marginal increase of 2.4GW in the forecast from last year's report.

Wilkes stressed the need for policymakers to provide more forward guidance for the industry to spur further investment. He said: "It's imperative that national governments resist making abrupt changes to support mechanisms that can blindside investors and deter financing of wind power projects. Political and regulatory risk is reflected in the cost of capital and a stable framework can go a long way to eliminating these risk premiums."

Posted on September 1, 2014 - (66 views)
by
Related articles
Honeywell Demonstrates Security Threats of USB Devices
A Lab Oscilloscope for an Electric Superbike
US Healthcare Sector Votes for Cogeneration
Motion Solutions for Clean Energy Applications
Freeing up technicians to build an aircraft
Energy Efficiency & Renewable Energy: Harnessing the Power of the Consumer
A New Name for SPS IPC Drives in 2019
Link3D Presents its Technology to Boost Additive Manufacturing at Formnext 2018
Emerson will Modernize a Gas Processing Plant in Algeria
Intelliconnect at Electronica 2018
New JD Mini for Maximum Efficiency
Sensing Innovation in Process and Control
Connect Everything with e-Factory
System-based High Precision Linkages
Ultrasonic Flowmeter for Air
Reflowable Thermal Switch
Mobile, Multi-protocol Diagnostics Mercury
Microscope Optics for IR cameras
Level Switches RFS-9 and RFS-12
Digital Multimeter, Gas Soldering Iron and Carrying Case
Verigo Model PB3 Reusable Temperature Data Logger
Compact Power Modules
Modular Compact CPU Board
Absolute Modular Encoders
Connector for Data Transmission
Mass Flow Controller FMA-2600A Series
High-Performance Box PC
Compact True Color Sensor
A new performance class in inductive displacement measurements
Positioning System
Verigo Model PB3 Reusable Temperature Data Logger
Ultrasonic Flowmeter for Laboratory
Co-Creating the Industry of the Future
Ultra-Low Power Accelerometer for IoT
New JD Mini for Maximum Efficiency
Bonfiglioli BSR Synchronous Reluctance Motors
Reflowable Thermal Switch
Measuring the Position of Hydraulic and Telescopic Cylinders
AI Convention Europe Presents KAPTAIN
Ultrasonic Flowmeters for Compressed Air