Europe is widely considered a renewable energy powerhouse, at least with regards to technology establishment and kick-starting the green economy. Installation trends and markets are expanding – and Covid-19 could provide new opportunities for the continent.
Long awaited – and even longer debated – the 1000 pages of legislation have finally been adopted by all EU institutions. Over the coming 18 months, there will be changes, some big, some small, to the markets in Europe. Across the continent, the renewable energy industry is likely to benefit.
Despite solar’s explosive growth, the bloc is unlikely to meet its 20% clean energy target. Transport in particular remains a drag, with slow adoption rates for alternative fuels. Wind power supplanted hydro as Europe’s largest renewable electricity source.
The 2018 figures for the Guarantee of Origin (GO) certificate market show a marked growth in clean energy demand in Europe. Demand surpassed 500 TWh, while GO prices reached record levels. Solar GO, however, saw a slight fall.
After EU Parliament, Council and Commission each reached their respective position on the future of renewable energies in the EU until 2030, at the end of last year, representatives of the three bodies have commenced negotiations to find a EU wide position to be implemented as soon as possible. The renewable energy directive is expected to be ready for inking during this summer.
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