The European Parliament (EP) passed a new green energy legislation last week in an effort to “catch up” with global players like China and the United States, which are already investing large sums of money into energy transition, POLITICO informs.
The Net-Zero Industry Act (NZIA) aims to boost the manufacturing and use of renewable energy, like solar panels and wind farms – all made in the EU.
“The Net-Zero Industry Act will increase the competitiveness and resilience of the EU’s net-zero technology industrial base which will make up the backbone of an affordable, reliable, and sustainable clean energy system. By accelerating the development and production of net-zero technologies, the Act also aims to reduce the risk of replacing our reliance on Russian fossil fuels with other strategic dependencies that might hinder our access to key technologies and components for the green transition,” the European Commission (EC) said in a press release.
Initially proposed by the EC in March of this year, the NZIA was passed by EU lawmakers, with 376 votes in favor, 139 against, and 116 abstentions, per Euractiv.
The Act originally included 10 technologies, however, it was later expanded to include 17.
The 17 technologies covered by the Parliament’s text include renewable energy (wind and solar), nuclear energy (fission, fusion, fuel cycle), energy storage; capture, transport, injection, storage, and use of carbon dioxide, methane, and nitrous oxide; hydrogen (transport, electrolyzers, fuel cells, propulsion and production and refueling infrastructures), alternative fuels, bio-methane, electric vehicle recharging, heat pumps, energy efficiency, thermal energy distribution and electricity networks, thermonuclear fusion, electrification and high-efficiency industrial processes for energy and carbon-intensive industries, production of biomaterials and recycling, as Euractive reported.
With the passing of the legislation, the EU is looking to boost its clean energy production by at least 40%.
The aim for the EU to develop 25% of the world’s green technology by 2030 was also added by parliamentarians in order to increase global ambition.
