Recently, the European Commission disclosed the new energy plan "REPowerEU: Joint European action for more affordable, secure and sustainable energy"
Among them, the European Commission said that between now and 2027, REPowerEU needs an additional investment of 210 billion euros. Among them, accelerating the deployment of renewable energy is one of the main pillars of REPowerEU. The European Commission believes that renewable energy is the cheapest and cleanest energy source that can be generated domestically, reducing the EU's need for energy imports. Photovoltaic solar energy is an important part of renewable energy.
The European Commission website shows that nearly 300 billion euros are being raised. And 95% of the overall financing will be used to accelerate and expand the clean energy transition.
Based on this calculation, nearly 285 billion euros will be spent on accelerating and expanding the clean energy transition.
Specifically, the European Commission proposes to increase the renewable energy target for 2030, increasing the share of renewable energy in final energy consumption from 40% to 45%. And as part of the REPowerEU plan, it has set a target of more than 320GW of new solar PV capacity installed in 2025, double the current level, and close to 600GW by 2030.
As for why the energy plan was introduced, the European Commission said high energy prices had created difficulties and heightened concerns about energy security, highlighting the EU's over-reliance on imports of natural gas, oil and coal from Russia.
