The European Union Recovery Strategy marks the determination of the Commission to engage all Member States in common efforts to reshape the whole European economy. The pandemic simply amplified the observation, that the emerging challenges to our societies and economies require more focused, decisive policies. The Recovery Strategy and the EU budget proposed for the 2021-2027 perspective can be perceived as a move to capture these efforts into a robust financial framework. This is a clear impulse to encourage both private and public spending required for the energy transition to succeed.

Investing in renewable energy sources (RES) is undisputedly the key response we are capable of providing to the climate change challenge. However, we are already past the stage where this can be narrowed down to adding new power generating capacity to each system. Over the next decade, the renewable effort has to combine replacing reliance on energy sourced from fossil fuels with a mixture of measures focused around renewable energy in the overall power system, including network, transportation, heating and cooling but also building on synergies with water supply, waste management and many other areas.

This article was originally published on CEENERGYNEWS, the official media partner of Budapest Energy Summit.