Net zero industrial bill energy storage

What is the Net-Zero Industry Act?

Such technologies strengthen the EU’s industrial competitiveness and energy system's resilience while allowing the clean energy transition. On 6 February 2024, the European Parliament and the Council reached a political agreement on the Net-Zero Industry Act. Once formally adopted, the Act will enter into force.

How can a net-zero industry be stimulated?

To stimulate investment into net-zero technologies, the Act proposes: Cutting red tape and accelerated permitting: lowering administrative burden for developing net-zero manufacturing projects and simpler and faster permitting procedures.

How will the Net-Zero Industry Act be measured?

Progress towards the objectives of the net-zero industry act will be measured by two indicative benchmarks: reaching 40% of the production required to cover EU’s needs in strategic technology products, and their evolution in comparison to world production for products such as solar photovoltaic panels, wind turbines, batteries and heat pumps.

What does the EU's 'net-zero' regulation mean for industrial green technologies?

The regulation aims at boosting the industrial deployment of net-zero technologies needed to achieve EU’s climate goals, using the strength of the single market to reinforce Europe’s leadership in industrial green technologies.

What are net-zero strategic projects?

Such sites can be recognised as Net-Zero Strategic Projects if they are located on EU territory, aim to provide operationally available CO 2 injection capacity by 2030 or earlier, and have applied for a permit for the safe and permanent geological storage of CO 2, in accordance with Directive 2009/31/EU.

Are net-zero strategic projects of overriding public interest?

Net-Zero Strategic Projects may also be considered to be of overriding public interest. Promoters of net-zero strategic projects will also benefit from an additional focus within the Net-Zero Europe Platform, including with regards to financing advice.