As the summer ends and the fall semester begins, many students are going back to school. If you’re just moving to a new city, new country, or a new continent, it may be nice to familiarise yourself with the energy landscape in your new home. So what do you need to know about the ins and outs of energy and sustainability in Europe?
The Clean Energy package
Over the past twenty-some years, Europe has undergone a huge harmonisation of energy systems and liberalisation of electricity and gas markets. This was accomplished via four main packages of regulations and directives put forth by the governing bodies of the European Union (EU).
The most recent package, passed in 2019, is known as the “Clean Energy for All Europeans” package. It provides a massive rehaul of the EU’s energy policy framework, moving the bloc away from fossil fuels and towards a sustainable future. It consists of several laws regarding renewable energy (EU 2018/2001), energy efficiency (EU 2018/2002), energy performance of buildings (EU 2018/844), the internal market for electricity (EU 2019/943 and 2019/944), risk preparedness (EU 2019/941), and governance (2018/1999).
Several key features within the package should be noted. Consumer empowerment and protection is underscored, protecting Europeans’ right to a free choice of supplier. Capacity Remuneration Mechanisms (CRMs), a payment system designed to ensure security of supply within the energy transition, are also defined. And provisions for the unbundling of both Transmission System Operators (TSOs) and Distribution System Operators (DSOs) are detailed, along with the establishment of a new pan-European association for all DSOs to promote coordination and the sharing of best practices.
The Green New Deal
These exciting new laws are only one piece of the larger puzzle: the Green New Deal is a comprehensive growth strategy to accelerate the green transition. You can read more about it in one of my previous blogs, here.
The noteworthy point of the Green New Deal is that it touches almost all areas of society, from how we grow food, to how we manufacture goods, to how we move around. And this is critical, because if we are to achieve zero net greenhouse gas emissions by 2050 and become truly sustainable, it must be a team effort with no one left behind.
The economics
It is no secret that the COVID-19 pandemic has had serious effects on the global economy. In order to fuel the recovery, the EU has introduced the Next Generation EU fund, a stimulus package to be used by Member States.
However, the funds from the Next Generation EU fund are largely meant for investing into green-related areas: for example, research and innovation into low-carbon technology, the development of a circular economy, and more.
Next steps
Although the magnitude and scale of such an effort towards sustainability is globally unprecedented, much work remains to be done. Talented changemakers are needed to bring this vision into reality, in all areas of society.
On the policy side, the laws and regulations must be continuously revised to reflect emerging technologies. For example, the legal framework of energy storage needs to be better defined to monetise the benefits that battery installations and EV chargers have the potential to provide.
On a technical side, skilled engineers are needed to develop these technologies to a market-ready level. As power electronics-based power systems, bi-directional power flows, renewable energies, and more gain prevalence in the power system, the tech will have to be continuously refined and improved.
But whether policy or technology, an EIT InnoEnergy Master’s programme will expose you to the real-world context of the energy transition. Let’s keep this momentum moving forward; start your journey with EIT InnoEnergy today.
By Emilia Chojkiewicz, Master School student