The European Commission is set to unveil its latest action plan for “Digitalization of the Energy System”, which calls for €565 bn of investment in infrastructure by 2030. The plan calls for installing solar panels on the roofs of all commercial and public buildings and new residential buildings in the EU by 2027 and 2029, respectively. Once again, the development of the Europe PV industry has been pressed the speed button!
Russia-Ukraine conflict accelerates the launching of EU energy plans
Energy prices in Europe rose sharply in February 2022, immediately after Russia launched special military operations in Ukraine. Since the second quarter of this year, European gas prices have risen sharply, reaching a record of nearly €300 per megawatt hour, according to ICE, as Russia has reduced supplies to Europe and even announced an indefinite shutdown of Nord Stream 1.
At the same time, because European electricity generation mainly depends on natural gas, the price of electricity in Europe is rapidly rising. The price of electricity in Britain, France and Germany has climbed to a historical high, nearly five times higher than last year. The European Union, which used to get 45% of its coal from Russia, could have relied on coal for a while without gas, but an EU embargo on Russian coal came into effect in August.
Energy Digitalization in the European Union
The idea of “digitisation of energy” in the EU is not a new one, but the recent surge in energy prices has accelerated the project within the EU.
Digitization of the Energy Sector Action Plan
In July 2021, the European Commission launched the “Digitization of the Energy Sector Action Plan”, which aims to promote the digitalization of the whole system of energy production, consumption and infrastructure in Europe, and build a modern energy system that is electrified, more efficient, flexible and intelligent.
REPowerEU plan
In March 2022, the European Commission proposed the REPowerEU plan, which is a response to the difficulties and chaos in global energy markets caused by Russia’s invasion of Ukraine. The urgency of transforming Europe’s energy system is twofold: to end the EU’s dependence on Russian fossil fuels, which are used as economic and political weapons, costing European taxpayers almost €100bn a year, while tackling the climate crisis. Through an alliance, Europe could phase out its dependence on Russian fossil fuels more quickly.
EU Photovoltaic Market Outlook 2021-2025
The EU has issued the document “EU Photovoltaic Market Outlook 2021-2025”. The demand for new energy in the European market is increasing day by day, and this demand will further increase as time goes by. In addition, renewable and sustainable energy is supported by many sources, which contributes to the development of the global PV industry and market. The European Photovoltaic Industry Association has asked the Commission and member states to set even bigger targets for the solar industry: 870GW of PV within Europe by 2030, in order to achieve the 2050 target of climate neutrality.
€565 billion Action Plan
According to the latest news from Bloomberg, the European Commission is working on a “digitization of energy systems” plan, which will be officially announced soon. The plan would require the EU to invest €565bn in infrastructure by 2030 to fulfil its green programme and end its dependence on Russian fossil fuels.
The plan includes:
- Install solar panels on the roofs of all commercial and public buildings in the European Union by 2027;
- Install solar panels on the roofs of all new homes in the European Union by 2029;
- Install 10 million heat pumps over the next five years;
- To put 30 million zero-emission vehicles on the road by 2030.
The plan is the latest move by the EU to wean itself off Russian gas and accelerate its transition to renewable energy. With increasing demand for electricity, the EU region will need a more adaptive energy network to accommodate weather-sensitive solar and wind technologies and deliver power to areas where it is more needed.
Maysun Solar, with 14 years of experience as a PV module manufacturer, is proud to be part of this ambitious European digital energy transition and will continue to provide our customers with quality PV products and services.
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