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Renewable Cooperation Mechanisms in the EU: Lessons Learned and Future Perspectives
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Renewable Cooperation Mechanisms in the EU: Lessons Learned and Future Perspectives
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Journal Article
Renewable Cooperation Mechanisms in the EU: Lessons Learned and Future Perspectives
2023
Overview
In 2018, the European Union (EU) adopted a recast of the Renewable Energy Directive (RED), setting the framework for a common EU-wide 2030 target of 32.5% renewables in final energy consumption, for which Member States shall set national contributions. To address the disparities in national targets, the EU introduced three cooperation mechanisms: statistical transfers, joint support schemes, and joint projects. This paper provides an assessment of the utilization of cooperation mechanisms by Member States to meet the 2020 renewable energy target, offering recommendations for the RED III implementation. It analyzes the motivations of both buyer and seller countries, examines the patterns observed in concluded agreements, and interprets the dynamics of the market. The research employs a mixed-methods approach, incorporating a literature review, analysis of official statistics and cooperation agreements, and interviews with government representatives involved in implementing these mechanisms. The study reveals areas for improvement and raises questions about the efficacy of the instruments and their alternatives. To enhance the effectiveness of renewable cooperation mechanisms, a more systemic approach is necessary. The proposed new financing mechanism can ensure certainty in financial allocation and support larger joint projects of European significance. Furthermore, it is anticipated that statistical transfers will continue to be utilized due to established bilateral relationships and the need for last-minute adjustments to achieve renewable energy targets. This research provides valuable insights for policymakers and stakeholders in advancing renewable cooperation mechanisms and driving the EU’s progress towards a climate-neutral continent by 2050.
Publisher
MDPI AG
Subject
