EU sets new target of reaching 32% renewable production by 2030

The European Union (EU) has decided to increase the share of renewable energy in its power production to 32% by 2030.

The union’s new target is higher than it had originally planned, yet it still remains lower than other governmental goals, Reuters reported.

Initially the EU suggested a renewable energy target of 27% but following a meeting between energy ministers on 11 June the new goal was set.

The conclusive law also states that the EU will phase out palm oil by 2030 in order to reduce greenhouse gas emissions.

SEE ALSO:

• Scotland has halved its greenhouse gas emissions since a 1990 baseline

• Northvolt granted environmental permit for the first Gigafactory in Europe

• Equinor aims to provide gas platforms with renewable power

• Read the latest issue of Energy Digital here

In the review period, the bloc targets a 40% reduction of greenhouse gas emissions against a 1990 baseline.

The focus on emissions ultimately aims to follow the Paris Climate agreement and keep global warming below 2 degrees.

“The agreed 2030 binding target of 32 percent should be seen as a starting line for the race to greater ambition,” stated Wendel Trio, Director of the Climate Action Network Europe, Reuters reported.

The EU aims to reach 20% of renewable power in its mix by 2020, however experts argue a higher target could be set with the cost of renewables dropping.