30 MARZO 2022
What is going to be done to consolidate renewables as the main source of energy?
The role of renewables in energy supply is gaining special relevance due to the unstoppable rise in prices due to dependence on Russian gas. Faced with this problem, different countries and organizations, such as the European Union, have warned that the accelerator for renewables must be stepped on even more.
In recent weeks, the current crisis caused by the conflict between Russia and Ukraine has highlighted the risks that dependence on fossil fuels such as gas and oil poses not only for the environment but also for the economy.
As a result, the countries of the world have shown an even greater willingness to make changes to resolve the consequences of this energy crisis as soon as possible and in the long term. One of the main measures, in addition to replacing the natural gas supplier, in this case Russia, with other countries such as the United States, Azerbaijan or Algeria, is to accelerate the implementation of renewable energies.
And some countries have already taken action. In Europe, high-value companies, such as producers of components like solar panels, are already being economically boosted. For this reason, the European Renewable Energy Index, which analyzes the development of European companies in the renewable energy sector, rose by more than 9 points.
In addition, the International Energy Agency has drawn up a plan with 10 measures to reduce energy dependence by more than 30%. This plan recommends not signing any new natural gas supply contracts and setting minimum gas storage obligations for European Union countries.
In addition, they are committed to accelerating the deployment of new wind and solar projects for electricity generation and reducing the use of gas by 60,000 million cubic meters per year. They also point out that self-consumption can reduce consumer bills and advocate 20% subsidy programs in the short term.
One of the points also refers to improving the energy efficiency of buildings to save about 2,000 million cubic meters of gas per year. And it also proposes as an initiative that consumers reduce their heating thermostats by one degree, which, together with greater energy awareness, could result in considerable savings.
Just a few days later, the European Commission presented a roadmap to reduce dependence on the EU market, within the framework of the REPower EU plan. In it, it is indicated that Brussels will analyze the necessary investments to develop infrastructures to increase the participation of renewable hydrogen or biomethane.
In particular, it is required to double the biomethane production target set in the Fit for 55 package; and with regard to hydrogen, the intention is to increase its production by 15 million tons by 2030. Many experts are already recommending a more active role for the state in the development of a hydrogen market.
It also implies a strong commitment to the implementation of renewable energies that will bring immense benefits to the European community. As announced by Frans Timmermans, Vice-President of the European Commission, “renewable energies are a cheap, clean and inexhaustible source of energy and instead of financing the fossil fuel industry elsewhere, they create jobs here”.
In addition, the Commission will also analyze and establish mechanisms to optimize the design of the electricity market to take advantage of the benefits of renewable energies and study a change in the electricity price market to limit the effect of high gas prices.
Thanks to these measures and the consolidation of renewable energies as the main source of generation, it is expected that energy dependence will be reduced, thus stabilizing electricity bill prices.