Faced with two urgent matters, the conflict in Ukraine and the climate crisis, the people and the industry want a faster and a just energy transition to reduce dependency on fossil fuels and fight climate change. So, the policymakers are taking action to create a roadmap. To this end, the European Commission announced its REPowerEU plan on May 18th, 2022. The plan moves the deadline for the many energy transition goals from 2030 to before 2027.
REPowerEU brings in the force
The Commission announced the steps and measures to facilitate the transition. The three main steps to be taken before 2027 are:
- support investment and reforms worth €300 billion
- boost industrial decarbonization with €3 billion of frontloaded projects
- shorten the permitting process for renewable energy projects
The plan also emphasizes saving energy, producing clean energy, and diversifying the supplies. Behavior change at all levels will be encouraged to achieve efficiency measures, and faster deployments of renewable energy projects will be supported. Additionally, it is expected that public investment will leverage even more private investment, providing predictability to the industry.
The initial investment for the REPowerEU, planned until 2027, would be economically and environmentally beneficial for Europe, saving almost €100 billion per year in reduced fossil-fuel imports.
What does the accelerated energy transition mean for Industrial Solar?
Solar energy leads the charge in energy transition as the most competitive and abundant renewable energy source. The EU Commission’s solar energy strategy mentions doubling the deployment rate of heat pumps as well as heat and steam needs for the industry. Industrial Solar offers the know-how and expertise to combine highly efficient heat pumps with solar applications such as PV and solar thermal collectors, which will contribute to ramping up the energy transition efforts of the industry.
The accelerated energy transition thrills us at Industrial Solar. The increasing momentum in seeking solar energy solutions fosters closer collaboration between the industry and holistic solution providers like Industrial Solar, enabling a faster energy transition.
With rising demand for reliable, scalable, and easy-integration renewable energy solutions, we are determined to keep the pulse of the energy transition.
Sped up and scaled up, the energy transition is happening, and Industrial Solar is here for it!