The Renewable Energy Law
Across most countries, renewable energy sources such as solar, wind, and hydropower have become increasingly important components of energy production and provide a more sustainable source of electricity than traditional energy sources like coal and nuclear. As such, several countries have passed laws to encourage the use of renewable energy. These are commonly referred to as Renewable Energy Laws.
In the United States, the Renewable Energy Law was enacted in 2005 and was amended in 2007. The law requires that 20 percent of the country’s electricity must come from renewable sources by 2020. It also provides incentives to utility companies to develop renewable energy sources, as well as tax credits and grants for individuals who choose to install renewable energy systems. In addition, the law also provides for a Renewable Electricity Standard, which requires that utilities must purchase a minimum amount of renewable electricity each year.
The European Union also passed its own Renewable Energy Law in 2009. The law requires that 20 percent of the EU’s energy must come from renewable sources by 2020. It also provides incentives to utility companies to develop renewable energy sources and to individuals and businesses who purchase renewable energy. Additionally, the law provides for a mandatory minimum level of renewable energy production in each Member State, and it includes a framework allowing Member States to cooperate in the development of renewable energy projects.
In addition to the United States and the European Union, many other countries have adopted renewable energy legislation. China, for example, passed the Renewable Energy Law of the People’s Republic of China in 2005. The law sets targets for the development of renewable energy sources in the country, and it also provides for financial incentives for companies to invest in renewable energy projects. Similarly, India also passed the Renewable Energy Law in 2008 and is currently implementing the law across its territory.
The Renewable Energy Law is just one example of the many energy policies being implemented around the world. These policies have the potential to make a significant contribution to the reduction of global carbon emissions, and the deployment of renewable energy sources will have a significant impact on the global energy mix. As such, the Renewable Energy Law will likely remain in force for many years to come.
