8 October, Paris – The International Energy Agency (IEA) has warned that the growth of renewable electricity in Europe is being stunted by divergent and unpredictable national policies, which are undermining investor confidence across the EU.
In a new report, the IEA has claimed that renewable energy growth in Europe could be up to 30% higher than expected in the next 5 years, should market and policy conditions improve.
Yet the support for renewables among many national governments remains uncertain, with recent examples in the UK, Spain, Romania and Bulgaria of retroactive cuts in subsidies.
The IEA has therefore called upon the EU to shore up investor confidence by including indicative national targets in its collective 2030 renewables target, set at 27%. While the EU has previously set national renewables targets, toward the fulfilment of its 2020 goals, it has yet to produce a governance framework to ensure the attainment of the 2030 targets.