The European Commission has greenlit a massive 17.7 billion euros ($19.4 billion) Italian state aid scheme.
This funding is dedicated to developing a centralized system for storing electricity generated from renewable sources.
The scheme includes annual payments to electricity storage developers. It's designed better to integrate renewable energy into Italy's electricity system. This system will store excess electricity during high wind or sunshine periods. It will then be used when energy is scarce, reducing reliance on fossil fuel plants.
The Commission believes this plan is essential and suitable for accelerating electricity storage investments. It's seen as a critical step towards achieving climate goals.
The Commission also noted that the scheme's benefits in meeting these goals would surpass any potential competition distortions.
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theatre actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
Renewable Energy ,
EU Approves €17.7B Aid for Italian Renewable Energy Storage
by : Samira Tasneem | Published: December 23, 2023
Italy receives significant EU funding to develop a centralized system for storing renewable energy electricity.
The European Commission has greenlit a massive 17.7 billion euros ($19.4 billion) Italian state aid scheme.
This funding is dedicated to developing a centralized system for storing electricity generated from renewable sources.
The Commission believes this plan is essential and suitable for accelerating electricity storage investments. It's seen as a critical step towards achieving climate goals.
The Commission also noted that the scheme's benefits in meeting these goals would surpass any potential competition distortions.
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Samira Tasneem
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theatre actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
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