17 Mar, 2023

Net-Zero Industry Act Set to Position EU as Leader in Clean Energy and Green Jobs

The European Commission has presented the Net-Zero Industry Act to scale up manufacturing of clean technologies in the EU and prepare the Union for the clean energy transition. This initiative was introduced as part of the Green Deal Industrial Plan by Thierry Breton, Commissioner for Internal Market:

“Our dependency on Russian gas has taught us a number of lessons. Let’s not replace that dependency with a reliance on others to produce solar panels and other technologies we rely on. With the Net-Zero Industry Act, we are building a strong manufacturing base in Europe along the clean technology value chain. To ensure our security of supply and remain an industrial leader that exports its products and technologies – not its jobs.” – Thierry Breton, Commissioner for Internal Market – 15/03/2023

The act aims to enhance the competitiveness and resilience of net-zero technologies manufacturing in the EU while ensuring a more sustainable and secure energy system. The initiative will provide favorable conditions to establish net-zero projects in Europe, attract investments, and increase the Union’s strategic net-zero technologies manufacturing capacity to 40% of its deployment requirements by 2030. This will expedite the EU’s progress towards its 2030 climate and energy objectives and promote the transition to climate neutrality. Additionally, it will enhance the competitiveness of EU industry, create quality jobs, and support the Union’s to become energy independence.

With the Net-Zero Industry Act, the EU is set to boost the production of PV solar energy, as part of its strategy to reduce carbon emissions in the industrial sector. The act aims to support the development of advanced PV solar technologies and the production of photovoltaic modules, inverters, and other related equipment within the EU. This move is expected to attract more investment into the sector and to help create green jobs, while also boosting the region’s manufacturing capabilities.

Read more here.

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