Renewable Energy Policies to achieve COP targets
Country-wise list of Renewable Energy Policies introduced to promote renewable energy growth and achieve COP (Conference of Parties) goals and targets: 1. United States Inflation Reduction Act (IRA) (2022): Provides tax credits for solar, wind, EVs, and battery manufacturing. Production Tax Credit (PTC) : Supports wind energy by offering tax benefits for production. Investment Tax Credit (ITC) : Encourages solar and wind energy deployment through capital subsidies. Renewable Fuel Standard (RFS) : Mandates blending biofuels into transportation fuels to reduce GHG emissions. State Renewable Portfolio Standards (RPS) : Many states require a certain percentage of electricity to come from renewable sources. 2. European Union European Green Deal : Aims for climate neutrality by 2050, with renewable energy as a key component. Fit for 55 Package : Targets a 55% reduction in emissions by 2030 with higher renewable energy quotas. Renewable Energy Directive (RED II) : Sets binding targets for r...