The European Commission is set to announce its “Clean Industrial Deal” on Wednesday, aimed at reducing expenditures on fossil fuel imports by tens of billions of euros in 2025. Among the measures proposed are expediting permits for sustainable energy projects, revising tariffs on energy consumption, and boosting subsidies for renewable energy initiatives. EU Energy Commissioner Dan Jorgensen has stated that the pullback from green energy initiatives in the US does not deter the European Union, as it necessitates greater commitment instead. The new energy rules will offer support to renewable energy entities grappling with cheap foreign competition and sluggish demand. Additionally, the Clean Industrial Deal aims to locally produce 40% of renewable energy technology, such as wind turbines, within the European Union, and shift sustainability regulatory burdens from small and medium businesses to larger polluters. According to an EU executive analysis, this will result in savings of €45 billion ($47.3 billion) in import costs, increasing to €130 billion annually by 2030. Fokusing on investments and savings from reduced reliance on external fuel sources, the EU actively addresses challenges posed by fluctuating fossil fuel use and US threats of tariffs on energy imports.

Source: https://www.dw.com/en/eu-launches-clean-industrial-deal-to-overhaul-energy-sector/a-71750700?maca=en-rss-en-all-1573-rdf