Austrian Renewable Energy Expansion Act (EAG) ensures liberalization
The basis of the energy transition is the decentralization of energy generation. With the Renewable Energy Expansion Act (EAG), Austria is now taking a pioneering role worldwide in the liberalization of the energy infrastructure. An urgently needed step, as Walter Kreisel, founder and CEO of neoom said: “We at neoom are convinced that the energy transition will only be possible if everyone has the opportunity to profitably participate in energy generation.” An important building block for this is the option of energy communities which has now been established.
Austria’s renewable energy targets are ambitious. By 2030, electricity demand is to be covered entirely from renewable energy sources over the course of the year. This will require an additional 27 terawatt hours of electricity generation capacity. The Renewable Energy Act now defines the framework conditions under which the expansion of green electricity should be possible in less than ten years.