The World's #1 Renewable Energy Network for News, Information, and Companies.

France Spurs Efficiency, Renewables with $13.4 Billion Energy Plan

France Spurs Efficiency, Renewables with $13.4 Billion Energy Plan

France’s planned energy law will mobilize about €10 billion (US $13.4 billion) in investment through tax credits and low-interest loans to spur efficiency and renewable power, Environment Minister Segolene Royal said.

The law seeks to boost growth and jobs, and reduce bills through energy savings, she said. Measures include tax breaks and zero-interest loans for renovations to insulate homes.

“What is important is to use our imagination,” Royal told reporters in Paris, asked about plans for funding, growth and jobs. “What we have done is financial engineering.”

Government-owned lender Caisse des Depots et Consignations will set aside €5 billion (US $6.7 billion) for green projects, while non- state banks are also promising to lend, she said.

The cabinet approved the long-overdue legislation today. Expected to begin its journey through parliament in September, the law stems from President Francois Hollande’s target of shrinking the share of electricity France gets from atomic power to 50 percent by 2025 from about three-quarters now.

Other goals in the law include cutting emissions 75 percent by 2050 and getting 32 percent of energy from clean sources such as wind and solar by 2030, up from about 14 percent in 2012.

State-owned nuclear utility Electricite de France SA will be able to work out how to achieve the atomic output goal, as indicated by Royal in June with a broad outline of the law.

Energy Mix

“The energy mix has to progress,” Royal said.

While EDF won’t be forced to shut reactors, total nuclear capacity will be capped at current levels and the company will have to explain its strategy for its mix of generation sources to lawmakers in regular updates. Royal confirmed today that EDF’s oldest atomic plant at Fessenheim will be shut.

In the lead-up to the law’s publication, advocates of atomic power such as EDF have relied on models forecasting a significant increase in electricity demand and economic growth to justify keeping reactors running. Royal has said she wants power consumption to decline through increased efficiency.

The law will also promote electric car use at public entities and through bonuses granted to buyers who turn in older diesel-powered models, according to documents distributed today. Some 7 million recharging stations will also be installed.

Copyright 2014 Bloomberg

Lead image: Meunierd via Shutterstock

RELATED ARTICLES

The Big Question: What Is the Most Frustrating Part about Working in Renewable Energy?

Renewable Energy World Editors

Every industry has its challenges and misunderstandings. Sometimes the obstacles we face in simply trying to do our jobs can be very frustrating.

ViZn Flow Batteries

ViZn Turns to Jabil to Meet Growing Demand for Flow Batteries

Andrew Burger, Correspondent Energy storage startup ViZn, developer of advanced zinc-iron flow battery technology, is scaling up the size and scope of its operations as it works to meet growing demand from a variety of customers both in the U.S. and a...
Norway and Sweden flags

Nordic Renewables Boom Set to Exceed Wind Energy Target

Jesper Starn, Bloomberg

Sweden and Norway will probably exceed a joint target for renewable energy production by the end of the decade, industry consultant Nena AS said.

Renewable energy community

State and Metro Governments, Consumer Actions Drive Dramatic Shift in US Energy Landscape

Ron Pernick, Clean Edge The United States is experiencing a significant shift in its energy landscape. Last year, utility-scale wind and solar power combined for 47 percent of new generation capacity in the U.S. Based on this expansion, 11 states...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

FEATURED PARTNERS



EVENTS

PV-201: Introduction to PV Design & Installation

PV 201 Introduction to PV Design & Installation is simply the best i...

PV-301: Advanced PV Design & Installation

This highly desirable and advanced course is intended for the profession...

PV-401: Advanced Field Training

Real world on the job solar installation, training, and experience is th...

COMPANY BLOGS

Solar Tracking – A Key Technology for Unlocking the Full Potential ...

Quotes for very large solar photovoltaic projects in sunny parts of the ...

Meteorological Technology International Magazine - SENSORS AND SENS...

Over the past 10 years, these sensing technologies have spread tre...

What is Distributed Energy and Why Does It Matter to Solar?

Distributed energy has become a hot topic of conversation in energy circ...

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS