EU unveils its Net-Zero industry Act
On 16 March, the European Commission published the Net-Zero industry Act. With this initiative, the EU aims to create better conditions to set up projects and to attract investments for the clean energy transition in Europe. The proposed legislation addresses technologies that will make a significant contribution to decarbonisation including:
solar photovoltaic and solar thermal
onshore wind and offshore renewable energy
batteries and storage
heat pumps and geothermal energy
electrolysers and fuel cells
carbon capture, utilisation and storage
Other “net zero” technologies, such as sustainable alternative fuels technologies or advanced technologies to produce energy from nuclear processes with minimal waste, are also supported to a different degree.
The Strategic Net Zero technologies identified in the Annex to the Regulation will receive particular support and are subject to the 40% domestic production benchmark.
In terms of concrete measures, the Act foresees:
The implementation of streamlined permitting processes for net-zero technology manufacturing projects as well as single points of contact in the Member States.
The introduction of time limits on the permit-granting processes for net-zero manufacturing projects related to their size and status.
The introduction of sustainability and resilience criteria in public procurement and auctions, as well as actions to support private demand.
Support for the setting up of specialised European Academies to ensure there is a skilled workforce for the production of net-zero technologies.
The Act also mentions that the EU may collaborate with like-minded countries and engage in Net-Zero Industrial partnerships which will help to diversify trade and investments in net-zero technologies.
To read more, please click here.