GlobalData reports that the Feed-in Tariffs (FiT), quota obligations, capital grants, and subsidies, will be a significant factor in Europe’s renewable energy growth.
The European Union (EU) directive on renewable energy set a target for each state to increase its renewable energy share to 20% of total consumption by 2020.
Raina explains: “The National Renewable Energy Action Plan provides mandatory targets for each EU member state for the overall share of renewable sources in gross energy consumption, and is targeting a 10% share of renewables in transport by 2020.
“To achieve these goals, FiTs are being used to promote renewable energy in Germany, France, Italy, the UK, Spain, Austria, the Netherlands and Turkey. Some European countries are also using quota obligations, premium tariffs, tax incentives, investment support, net metering, and green certificates.”
GlobalData also acknowledges Germany is the leader with over 40 percent of their energy is green.
“The main objectives of the EEG Act, which was amended in 2004, 2009 and 2011, have been to develop a sustainable energy supply at a reduced cost, protect the climate by reducing emissions, and promote renewables.”