Post by nafizcristia99 on Mar 11, 2024 20:08:36 GMT 10
The key regulation seeks to ensure that homegrown net-zerotech can cover at least % of the bloc’s demand by “The NZIA is an important step in creating the necessary ecosystem to boost the manufacturing of clean technologies,” said Jo Brouns, Flemish Minister for Economy, Innovation, Work, Social Economy, and Agriculture. Amongst the technologies designated as “strategic” for the union’s decarbonisation are solar power, onshore and offshore wind energy, batteries and energy storage, carbon capture, biogas/biomethane, and renewable hydrogen. Streamlining processes In response to the US’ Inflation Reduction Act (which offers $bn of subsidies for American-made green tech), the NZIA aims to drive investment with the creation of more favourable processes and regulations.
For example, businesses in the space will be able to benefit not only from regulatory sandboxes, but also from fast permit-granting — set at a maximum of months for larger projects (over gigawatt) and of months for smaller projects (less than gigawatt). “Streamlining permitting and licensing processes is critical for businesses aiming to deploy renewable and Uruguay Mobile Number List low-carbon technologies at scale,” Atle Christiansen, co-founder and CPO at Oslo-based Zerolytics, told TNW. The act also introduces net-zero “valleys” with the aim to create clusters that can increase manufacturing activities. Green tech competition According to Christiansen, the especially those prioritising investments in green vs legacy technologies, risk falling behind international rivals who benefit from either more substantial subsidy schemes or the absence of net-zero commitments,” he explained.
The IRA presents a concrete example, triggering fears that European companies will be lured into setting up shop across the Atlantic. While the NZIA doesn’t offer a new pot of money to match the billion dollar subsidies (instead, it aims to coordinate various EU funds), it has the potential to drive both interest and investment. “Much like how we’ve seen in the US, where the IRA has played a key role in driving funding in climate tech solutions in North America, we expect the act to create more favourable market conditions in Europe, and will generate confidence among aspiring founders and VCs, which will in turn boost innovation,” Marian Kruger, co-founder and managing director of Amsterdam-based accelerator remove.global, told TNW. Apart from the US, the EU will also have to rival China’s dominance in the global solar supply chain, which is expected to hold % of the world’s manufacturing capacity between and The NZIA will likely come into force later this year, following the final adoption by the Council and the Parliament.
For example, businesses in the space will be able to benefit not only from regulatory sandboxes, but also from fast permit-granting — set at a maximum of months for larger projects (over gigawatt) and of months for smaller projects (less than gigawatt). “Streamlining permitting and licensing processes is critical for businesses aiming to deploy renewable and Uruguay Mobile Number List low-carbon technologies at scale,” Atle Christiansen, co-founder and CPO at Oslo-based Zerolytics, told TNW. The act also introduces net-zero “valleys” with the aim to create clusters that can increase manufacturing activities. Green tech competition According to Christiansen, the especially those prioritising investments in green vs legacy technologies, risk falling behind international rivals who benefit from either more substantial subsidy schemes or the absence of net-zero commitments,” he explained.
The IRA presents a concrete example, triggering fears that European companies will be lured into setting up shop across the Atlantic. While the NZIA doesn’t offer a new pot of money to match the billion dollar subsidies (instead, it aims to coordinate various EU funds), it has the potential to drive both interest and investment. “Much like how we’ve seen in the US, where the IRA has played a key role in driving funding in climate tech solutions in North America, we expect the act to create more favourable market conditions in Europe, and will generate confidence among aspiring founders and VCs, which will in turn boost innovation,” Marian Kruger, co-founder and managing director of Amsterdam-based accelerator remove.global, told TNW. Apart from the US, the EU will also have to rival China’s dominance in the global solar supply chain, which is expected to hold % of the world’s manufacturing capacity between and The NZIA will likely come into force later this year, following the final adoption by the Council and the Parliament.