The Compass lays out the Commission’s strategy, reflecting the findings of the Draghi report on Competitiveness, and guiding the EU executive’s work for the coming five years. It comes ahead of the anticipated Clean Industrial Deal, expected in February 2025.
“The European Commission’s commitment to competitiveness begins in earnest with this new publication. The Competitiveness Compass points to the right problem: our structural fossil fuel dependency. It also points to the right solutions: more renewables, faster electrification, and stronger system flexibility“, Walburga Hemetsberger, CEO of SolarPower Europe said.
Decarbonisation can go hand-in-hand with economic prosperity
„It is also good news that the European Commission will set out a 2040 climate target – decarbonisation goes hand-in-hand with Europe’s economic prosperity. Solar is the key competitiveness solution for our citizens and industry. Together with wind, solar saved the EU € 59 billion in fossil fuel import costs in 2024. Solar has been the fastest growing technology in the last five years, but is approaching slowdown. We now expect decisionmakers across Europe to lift the remaining barriers to offer clean, affordable, homegrown energy to industry“, Hemetsberger underlined.
Also see: ELTIF – Expansion of renewables requires immense investments
Arthur Daemers, Senior Policy Advisor, SolarPower Europe, said: „Solar PV is synonymous with affordable energy, but we still need to unlock its full potential. The announced Electrification Action Plan and European Grids Package must accelerate all those solutions; the Grids Package should become the Grids and Flexibility Package. There is no time to waste to decarbonise Europe with our most efficient, competitive asset: renewable electricity.
Also see: SolarPower Summit 2025 – Welcome to the solar flex era
The Affordable Energy Action Plan must help industry access it through Power Purchase Agreements (PPAs) and better market integration, but can also support them with the non-energy parts of their energy bills; grid fees and taxes.”
Good news for the European inverter industry
Anett Ludwig, Head of Supply Chains at SolarPower Europe said: “We need a strong industrial base for solar PV manufacturing in Europe and resilient value chains. It is encouraging to see that the European Commission is ready to use various policy instruments to promote clean tech manufacturing, to be adapted to each technology’s specificities.
We are looking forward to seeing funding, and especially Important Projects of Common European Interest (IPCEIs), made simpler and open to new sectors. This is potentially good news for our European inverter industry, which is key for the continent’s cyber- and economic security.” (hcn)
