EU Announces Own Green Industry Plan In Global Subsidy Race
On the 1st of February EC President Ursula von der Leyen presented the Green Deal Industrial Plan in an effort by the EU to keep up with a worldwide race in subsidy schemes for green industries.
The Commission’s new industrial plan comes in response to America’s $369 billion Inflation Reduction Act (IRA), which caused a stir in Europe for inviting EU clean-tech companies to relocate production across the Atlantic.
To boost clean tech manufacturing in Europe, the EU executive proposes a ‘Net-Zero Industry Act’ to “provide a simplified regulatory framework for production capacity” of technologies considered vital to meet Europe’s climate neutrality goals.
The Commission lists “batteries, windmills (sic), heat pumps, solar, electrolysers, and carbon capture and storage” among the technologies that will be targeted in the forthcoming act, noting however that the list is not yet definitive.
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