EU Tries to Match US Green Subsidies With Its Clean Tech Deal
- Provisional agreement aims to stop offshoring of key tech
- Parliament, member states still need to sign off on deal
A woman works on a manufacturing robot of solar panel maker in Bourgoin-Jallieu, France.
Photographer: Philippe Desmazes/AFP/Getty ImagesThis article is for subscribers only.
The European Union reached a provisional deal to support its clean-tech industry as it seeks to fend off global challenges from the US and China.
Lawmakers and member states agreed to speed up permitting and change the way auctions for new renewables projects are conducted to help support the sector as part of the Net Zero Industry Act. The objective of the law is to manufacture 40% of the bloc’s clean-tech needs within the EU.