Review of European and national financing of renewable enegy in accordance with Article 23(7) of Directive 2009/28/EC. Accompanying document to the communication from the Commission to the European Parliament and the Council.

Abstract

Renewable energy has always been a part of Europe's industrial development. For centuries, biomass (wood) provided us with heating for our homes, hydro and wind energy have provided us with power for our industry. Today, renewable energy continues to be the sole source of truly sustainable energy available to us and Europe continues to lead the world in improving the technologies and in manufacturing the equipment1. In 2009, Europe's leaders agreed to a new European framework for promoting renewable energy, including legally binding national targets for 2020, such that the EU will reach a 20% share of renewable energy overall. This agreement and the subsequent legislation2 were part of the Energy and Climate Package, showing EU leadership and commitment to tackling the climate threat. Renewable energy is a core element in the fight against climate change as it is an ideal energy source to decarbonise the generation of energy, as well as a means of improving the security of our energy supply. Instead of relying on centralised power sources run on imported fossil fuels, rising use of renewable energy allows us to draw on distributed and inexhaustible sources of energy local to the communities that use the energy, diversifying fuels and sources of energy. Such industries also create jobs, for equipment manufacturers, installers, technicians, builders and engineers. The industry currently employs over 1.5 million people and by 2020 could employ nearly 3 million more.