The European Commission temporarily allows more ‘green’ subsidies
The European Commission makes it easier for EU countries to support key sectors for the transition to a net-zero-carbon economy. It wants to stimulate investments in the development of clean technologies. A more favorable subsidy climate should deter companies from moving to the US, for example, where billions in ‘green’ subsidies are available.
The new measures are temporary in nature, the EU executive has warned. For example, Member States may, under certain conditions, grant state aid until 31 December 2025 for “strategic” production such as batteries, solar panels, wind turbines, heat pumps and the use and storage of electrolysis and carbon capture. The group hopes to rapidly roll out renewable energy and energy storage and decarbonization of industrial production processes.
“Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff.”