Austria's national Parliament has voted in favour of the Renewable Expansion Law (EAG), committing the country to achieve 100% renewable electricity consumption by 2030, a significant increase from the current level of 75%. This ambitious target would require an additional 27TWh of electricity generation, including 10TWh from wind power. Achieving this would imply the need for over 500MW of annual new wind power capacity from now until 2030.
In addition to the renewable electricity goal, the EAG introduces a new market premium system that will add a premium to the monthly average wind power market value. This mechanism aims to incentivize the development and growth of wind power projects. Giles Dickson, CEO of Wind Europe, applauded Austria's commitment, stating, "It's great that Austria wants its electricity to be 100% renewable in 2030. And it's great they've set a specific new target for the build-out of wind. The states now need to identify the areas for the new wind farms."
The passing of the EAG reflects Austria's determination to transition towards a cleaner and more sustainable energy system. By setting clear targets and implementing supportive measures, Austria aims to accelerate the deployment of renewable energy sources, particularly wind power, to achieve its renewable electricity objectives and contribute to the decarbonization of its energy sector.
