Renewable energy

The EU intends to increase the share of renewables in final energy consumption in order to decrease greenhouse gas (GHG) emissions and to improve EU’s energy independence.

Although the petrochemicals industry supports this goal, it should be reached at the lowest possible cost to maintain the industry’s competitiveness on global markets.

EU Policy

In December 2018, the EU adopted the revised Renewable Energy Directive, which includes a binding renewable energy target for 2030 of 32%, with a clause for an upwards revision by 2023.

This new regulatory framework will pave the way for the EU’s transition towards clean energy sources such as wind, solar, hydro, tidal, geothermal, and biomass energy. It will also allow the EU to remain a frontrunner in the fight against climate change.

Our view

Cefic and Petrochemicals Europe support the use of carbon-neutral energy sources including renewable energies.

For instance, the Directive should provide for national exemptions for energy-intensive industries to reduce the cost burden on these industries and maintain their global competitiveness.

In the meantime, the RED represents a business opportunity for the (petro)chemical industry since renewable technologies rely on petrochemicals to provide the essential building blocks to manufacture them and make them work efficiently.