24 Feb JOINT RES LETTER: An EU industrial strategy for renewables
Delivering green growth for Europe: an EU industrial strategy for renewables
According to the European Commission’s scenarios, sustained exponential growth of renewable energy capacity is needed in all sectors of the economy – power, transport, industry and buildings – to stand a chance of reaching a net-zero-carbon economy by 2050.
As the European Union becomes increasingly reliant on renewable energy technologies, the development of a robust industrial policy for renewables is critical to ensure Europe’s long-term security of energy supply and technology leadership.
Renewable energy is not just a key enabler of the climate transition. It is a jobs creator in its own right. According to IRENA , from 1,2 million direct and indirect jobs in the EU today, renewable energy will create 2.7 million jobs in Europe.
The European renewable industry has enormous potential to grow. The EU is home to European renewable energy companies and manufacturers which are established global leaders and face increasing competition from other major and emerging economies. The European innovative know-how is also a decisive asset to boost the European leadership in cutting-edge clean energy technologies. With world-leading research institutes, the EU holds 40% of renewable energy patents globally.
Renewable energy technologies are of strategic importance for a successful transition towards climate-neutrality. It is urgent to deliver an ambitious industrial strategy for renewables encompassing both supply-side and demand-side policies and enable a “renewable sector-integration”.
To this end, renewable energy technologies should be acknowledged as a key Strategic Value Chain, complementing the six value chains identified in February 2019. Membership of the Strategic Forum on Important Projects of Common European Interest should be opened to representatives of the renewable energy industries by the end of 2020.
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