After conducting detailed market research and analysis of energy prices and costs, the European Union (EU) recently announced a long-term renewable energy framework aimed at creating energy security, regulatory stability, a low-carbon economy and affordable energy for European consumers. The framework is targeting a 40% drop in greenhouse gas emissions below 1990 levels and a binding target across EU Nations of at least 27% renewable energy by 2030.
In developing a long-term energy framework, the EU is looking to create a stable environment in which investors can support innovation, leading to the development of new technologies. As the EU makes steady progress towards a low-carbon economy, it is hoped that such a long-term approach to developing a competitive and secure energy system reduces member states' dependence on imported energy. This would increase the security of their energy supplies, creating long-term job opportunities and growth.
