| dc.description.abstract | Renewable energy is crucial to any move towards a low carbon economy. It is also a key component of the EU energy strategy. The European industry leads global renewable energy technology development employs 1.5 million people and by 2020 could employ a further 3 million1. The promotion of renewable energy also develops a diverse range of mostly indigenous energy resources. EU renewable energy policy is relatively young, having started with the adoption of the 1997 White Paper. It has been driven by the need to de-carbonise the energy sector and address growing dependency on fossil fuel imports from politically unstable regions outside the EU. Over that period the focus has shifted from the promotion of renewable energy through indicative targets for the electricity and transport sectors to the definition of legally binding targets supported by a comprehensive legislative framework, and most recently, by a reorientation of European energy infrastructure policy that facilitates renewable energy growth. The new Renewable Energy Directive provides a strong and stable regulatory framework for the development of the renewable energy in Europe. With the transposition of the directive by all Member States by the deadline of 5th December 2010 and the adoption of National Renewable Energy Action Plans, the foundations for determined EU action on renewable energy have been laid. The Commission's Energy 2020 Strategy2 highlights how EU infrastructure and innovation policies are supporting the renewable energy sector's development, ensuring that renewable energy sources and technologies become economically competitive as soon as possible, thus supporting the growth of renewable energy to achieve our goals. However, as a young and developing industry, these important challenges as well as the dimension of financing will have to be addressed in the coming years. |
